VF Corporation has reported another quarter of sales decline, however management said the results are in line with expectations and reflect “sequential improvement”.

The company’s revenue for the second quarter decreased 6 per cent year-on-year to $2.8 billion, compared to the 10 per cent drop in the first quarter.

The North Face brand’s sales were down 3 per cent while Vans sales declined 11 per cent. Timberland and Dickies recorded decreases of 3 per cent and 11 per cent, respectively.

By region, revenue fell 10 per cent in the Americas and 3 per cent in EMEA. Meanwhile, sales in Apac increased by 6 per cent.

 “Our results in the quarter met our expectations and reflect a sequential and broad-based improvement in year-on-year trends,” said Bracken Darrell, president and CEO of VF Corp.

“At the same time, we made further progress on our four Reinvent priorities and we are on track to reach our previously announced $300 million savings target by the end of FY25,” he added.

On the bottom line, the company swung to a net income of $52.2 million from a net loss of $450.7 million. For the first six months, VF recorded a net loss of $206.7 million compared to $508.1 million last year.

“In summary, we advanced our turnaround plan towards a return to growth and strong, sustainable value creation at VF,” Darrell remarked.

The company expects third-quarter revenue to be in the range of $2.7 billion to $2.75 billion, a decline of 1-3 per cent.