Iconic shoe chain axes nearly 100 jobs in UK after plunge in sales
A MAJOR footwear brand has axed almost 100 jobs after another year of sales falling.
The chain’s owners, who also manage other names like North Face and Vans, cut jobs following a £38m turnover loss this year.
VF Corporation said that the fall in 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 channelled into training and development focusing on improving all customer facing activities.”
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VF Corporation was founded by John Barbey in 1899 and is headquartered in the US.
The company’s European division, whose brands also include Eastpak, Kipling and Napapijri, cut its headcount from 709 to 623 between 2024 and 2025.
The financial accounts of VF’s European vision show that the firm’s turnover fell from £359.1 million to £321.5 million in the same period.
In 2023, the company’s turnover was £401.7 million – making this the second year in a row of lower sales.
The latest accounts for the UK and Ireland arm of the Timberland owner also show its pre-tax profit declined from £15.5 million to £9.8 million during its latest financial year.
The latest total is the same as the company reported in the year to March 2023.
In September, it was reported that the group had sold workwear label Dickies to Scotch & Soda owner Bluestar Alliance for £440 million.
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