Dive Brief:
Sales in China, the pandemic-era gorpcore trend, more direct sales, an emerging comeback at Vans and an extra calendar week helped drive a 23% increase during VF Corp s latest quarter. Excluding the effect of acquisitions, revenue rose 16%, per a company press release.
Revenue in the Americas was up at the conglomerate s four biggest brands: 14% at Vans; 13% at the North Face; 21% at Timberland; and 9% at Dickie s. Net income rose 119% year over year to $89.5 million, pushing into the black after a nearly $484 million loss a year ago.
The conglomerate is selling more of its own goods and less via retailers. Direct-to-consumer sales were up 36% in the quarter, with e-commerce up 106%. This year the company expects direct-to-consumer revenue to increase between 38% and 40%, including digital growth of between 29% and 31%.
Dive Brief:
Adding to its growing roster of brand partnerships, Kohl s on Tuesday said it will bring Tommy Hilfiger men s sportswear to more than 600 stores, as well as an expanded assortment online in the fall.
The discount department store will install an elevated branded in-store and merchandise experience in nearly 100 of those stores, according to a company press release.
The announcement is the latest in a series of new tie-ups at Kohl s in recent months, including with Cole Haan, Eddie Bauer, Lands End and Sephora.
Dive Insight:
Kohl s may not be totally immune from the woes befalling most department stores, but its location strategy largely away from the mall and its discount orientation give it certain advantages. Those factors help keep traffic flowing, and in recent years that has been spiked further by its agreement to take Amazon returns, although it s not clear that is leading to many added sales.
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Apparel conglomerate VF Corp. closed on its $2.1 billion purchase of online streetwear sensation Supreme in the waning days of 2020. It was an acquisition coup that has been the buzz of the industry and part of a concerted effort to perfect the VF portfolio.
For several years now, that has also entailed dumping brands, including several workwear labels and denim companies Wrangler and Lee. But its star player right now is one it s hung on to for more than two decades, the more than 50-year-old outerwear brand The North Face, maker of tents, backpacks and puffy ski jackets, which VF bought in 2000. Several analysts called out the brand as a major contributor to VF s third quarter, which beat most expectations on profit and margins.