Retailers’ memories of a warm winter are continuing to haunt VF Corp.’s The North Face brand during a sweltering summer.
Reporting second-quarter results that beat analysts’ estimates Friday even as revenues fell slightly shy of them, VF indicated that North American stores are taking a conservative approach to cold-weather oriented merchandise as they plan for fall. That’s hurt North Face’s advance orders for the season in the Americas, even though second-quarter global volume for the brand rose 5 percent. The brand’s sales were up 40 and 10 percent in the less penetrated markets of Asia and Europe, respectively, despite a “modest decline” in the brand’s wholesale business in the Americas.
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