In the fourth quarter of the year, the company reported revenue of US$2.4 billion, falling by 13% year-on-year. The North Face brand was down 5% to US$814.3 million, while Vans dropped by 26% to US$631.2 million, Timberland was down 14% to US$341.5 million, Dickies declined 15% to US$162.4 million and Other brands fell 3% to US$424.4 million.

The Americas were down 22% for the group in the quarter to US$1.13 billion, while EMEA declined 3% to US$869.9 million and APAC fell 3% to US$377.7 million. Channel-wise, direct-to-consumer was down 5% to US$1.09 billion and wholesale fell 20% to US$1.28 billion.

In the full 2024 fiscal year, revenue was down by 10% to US$10.5 billion. There was an increase of 2% for North Face to US$3.67 billion, while Vans fell 24% to US$2.79 billion, Timberland was down 13% to US$1.56 billion, Dickies dropped 15% to US$618.4 million and Other brands had growth of 1% to US$1.82 billion.

For the full year, the Americas declined 18% to US$5.46 billion, EMEA was flat at US$3.43 billion and APAC increased 3% to US$1.56 billion. In channels, direct-to-consumer fell 5% to US$4.97 billion and wholesale was down 14% to US$5.49 billion.

President and CEO Bracken Darrell said: “In Q4, we made progress advancing our Reinvent transformation program. We closed the fiscal year with further inventory reductions helping us deliver US$1 billion in operating cash flow and over US$800 million in free cash flow, exceeding our guidance.

“As we move into fiscal year 2025, we will continue to execute our broader turnaround plans, including driving continued momentum on our key priorities, namely fixing the Americas, turning around Vans, reducing costs and paying down debt, while progressing on the actions resulting from our strategic portfolio review. We have been rebuilding the leadership team, including the announcement of the CFO appointment, and I feel energized that we are positioning VF to return to sustainable and profitable growth.”