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VF Raises Sales Guidance After Q1 Upswing

Wall Street Journal US Business •
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Revenue fell 5% to $1.67 billion, but was above analyst forecasts. VF raised its full-year guidance after a stronger-than-expected first fiscal quarter, buoyed by growth at The North Face and Timberland brands.

The company now expects full-year revenue to grow by at least 2% on a constant‑currency basis, up from its previous target of 1% to 2%. Chief Executive Bracken Darrell said the company’s The North Face, Timberland and Altra brands delivered another quarter of growth, while Vans Americas DTC continued to grow.

Declines in global wholesale offset DTC gains; Darrell expects performance at Vans to pick up in the latter half. “We expect Vans Wholesale to improve significantly in the second half of the year,” he said.