Timberland owner cuts UK jobs as sales slip again
Almost 100 jobs have been lost at the UK and Ireland arm of the retail giant behind the likes of The North Face, Vans and Timberland as its sales continued to fall during its latest financial year, it has been revealed.
The division of VF Corporation, whose brands also include Eastpak, Kipling and Napapijri, cut its headcount from 709 to 623 in the 12 months to 31 March, 2025.
New accounts filed with Companies House have also revealed that the firm’s turnover fell from £359.1m to £321.5m over the same period.
Its turnover had stood at £401.7m in the year before that.
The latest accounts for the UK and Ireland arm of the Timberland owner also show its pre-tax profit declined from £15.5m to £9.8m during its latest financial year.
The latest total is the same as the company reported in the year to March 2023.
Timberland owner hit by cost-of-living crisis
A statement signed off by the board said the fall in its turnover was “due to a decrease in the sale to customers who are reducing their spend on new clothes and footwear”.
It added: “Sales growth is the primary objective of the company, driven by investing and supporting the best people and from product innovation emanating from significant investment in product design and innovation by its principals.
“Sales growth will be enhanced by the declared intention of its principals to invest in more owned or franchised activities which it believes will assist sales growth through the traditional channels of distribution.
“Increasing investment is being channeled into training and development focusing on improving all customer facing activities.”
VF Corporation is headquartered in the US and was founded in 1899 by John Barbey.
In September, it was reported that the group had sold workwear label Dickies to Scotch & Soda owner Bluestar Alliance for £440m.