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%.