January 12, 2024

23 U.S. and European buyers representing 3,863 doors

UNITED STATES 12 buyers (9 independent retailers and 3 specialty retail chains) representing 1,524 doors

WESTERN EUROPE 11 buyers (5 in Germany, 4 in France and 2 in the United Kingdom) representing 2,339 doors

REPEAT SOURCES 20 (9 U.S. and 11 European buyers) from OTR Global’s October report

INTERVIEWS Dec. 11 through Jan. 9

Challenges Persist, North Face Slows
VF Corp.’s The North Face was hurt by warm weather during FY3Q24 and a cyberattack in December that prevented it from fulfilling last-minute wholesale orders, and Vans and Timberland struggled against weak consumer demand.

• The North Face: U.S. FY3Q24 sales below plan for 4 of 5 buyers (vs. none in FY2Q24) hindered by unseasonably warm weather, inability to fulfill holiday reorders after cyberattack

• Vans: U.S. FY3Q24 sales below plan for 4 of 5 buyers (vs. all 5 in FY2Q24), hurt by weak demand for core styles; Western European sales below plan for 7 of 9 (as in FY2Q24), hurt by lower demand

• Timberland: U.S. FY3Q24 sales below plan for 4 of 6 buyers, met for 2 (similar to FY2Q24), hurt by slow sales of six-inch wheat boots and despite price reduction; Western European sales at least met plan for 4 of 6 (better vs. FY2Q24), aided by rainboot sales

Consumer Discretionary