VF Corp. e-commerce sales grow nearly 30% in Q2
July 22, 2016 12:49 PM
The web was a bright spot for VF Corp. in the second quarter, as the parent company of such major outdoor gear and footwear brands The North Face, Timberland and Vans reported a nearly 30% year-over-year increase in e-commerce sales.
VF Corp., No. 92 in the Internet Retailer 2016 Top 500 Guide, did not break out a dollar amount but said its direct-to-consumer business, which includes e-commerce and its full-line stores, represented 27% of total sales during the quarter, or roughly $653.4 million, compared with 26% last year.
At the end of 2015, VF Corp. reported that its e-commerce business comprised 16% of its direct-to-consumer business. Assuming second quarter web sales were at the same percentage of direct sales or higher, that would suggest the company generated at least $104.5 million in online sales during the period, compared with $80.5 million in the second quarter of last year. This would also suggest that VF Corp. gets roughly 4% of its total sales came from e-commerce.
The company says it ran 1,461 retail stores as of the end of the second quarter, compared with 1,319 in the year-ago period.
For the three months ended July 2, VF Corp. reported:
- Direct-to-consumer revenue represented 27% of total sales during the period versus 26% in the second quarter of last year. That amounts to roughly $653.4 million in DTC sales, up 4.7% from $624.0 million.
- Total sales of $2.42 billion, up 0.8% from $2.40 billion in the second quarter of last year.
- Net income of $51.0 million compared with $170.8 million.
For the first half of the year, the merchant also reported:
- Total sales of $5.15 billion, a 0.8% increase compared with $5.11 billion in the first six months of 2015.
- Net income of $311.3 billion compared with $459.5 billion.