(This story was updated on 4/13/2023.)
The North Face was the star performer for parent company VF Corp. for the quarter ended Dec. 31, with total revenue for the brand reaching $1.32 billion, a 13% increase in constant currency.
The North Face reported growth in every region and channel, and was held up by new VF Interim CEO Benno Dorer as a model for the rest of the brands in the VF portfolio. He cited The North Face’s strong consumer engagement, iconic products with robust product line excitement, and its broad-based growth.
Channel and Regional Results
The North Face’s sales in the wholesale channel globally grew 7% in constant currency, while DTC sales jumped 18%. Both North Face stores and online sales rose double digits.
Regionally, Americas sales increased 9% in constant currency, while Europe jumped 13%. APAC reported a 29% increase in sales as the region continues to rebound from Covid lockdowns.
VF encountered supply chain problems in the quarter, which led to delayed shipments and cancelled orders from retailers. If not for that, The North Face would have grown even more.
The North Face Product Highlights
The North Face’s product and marketing highlights during the quarter included:
- The “It’s More Than a Jacket” marketing campaign, which helped drive growth in outerwear, snowsports, and footwear.
- The Nuptse Remastered and Summit Series saw particularly strong consumer response.
- The TNF x KAWS collaboration, which launched globally, sold out across all regions.
- The brand’s customer loyalty program, the XPLR Pass, added 2 million new members during the quarter for a total of 17 million members.
Raised Outlook for the Year
As a result of The North Face’s strong results, VF raised its outlook for the brand for the full year.
The North Face is now expected to grow revenue at least 14% in constant currency, up from the previous forecast of up 12%.
Related story: See a detailed report of how VF-owned Vans performed during the quarter on our sister publication, Shop Eat Surf.
