VF Corp. reported fourth-quarter earnings on May 19, 2022 with a presentation providing updates on its top brands: Vans, The North Face, Dickies, Timberland and Supreme. Positives were lead by The North Face, Timberland and Dickies while Vans sales continued to disappoint, hurt by lockdowns in China and what was described as “lower brand heat.”
Weighing in on Supreme’s performance, CEO Steve Rendle said while physical store sales were up 35 percent thanks to two new European stores, the brand’s performance was softer than expected with less than stellar sales hurt by supply chain disruption.
Looking ahead, the CEO said Supreme is working on “relocations and updates to key stores in the United States and in Japan,” and added the company is planning to expand distribution in Asian cities.
On the earnings call, Rendle officially confirmed designer Tremaine Emory as the brand’s creative director. Back in March, the news of Emory’s new role was leaked but wasn’t confirmed at the time by either VFC or Emory. VFC shocked the streetwear space when it acquired Supreme for $2.1 billion in November 2020.
VFC also highlighted The North Face’s collaboration with KAWS, which was launched in China in mid-January and in our other regions two weeks later. Described as “a huge success,” the partnership drove “significant brand heat” and boasted close100% sell-through within days of being launched.