Apparel company VF Corporation expects revenue to be “modestly down to flat” for the year due to softening sales in its wholesale business.

The company’s portfolio includes brands such as Vans, The North Face, Dickies, Jansport, Supreme, Smart Wool Napapijri, Kipling and Timberland.

For the quarter to July 1, revenue fell 8 per cent to $2.1 billion as The North Face delivered its 10th consecutive quarter of double-digit revenue growth, up 12 per cent.

Vans’ sales fell 22 per cent impacted by wholesale in the Americas as the turnaround worked for the brand.

By region, Greater China sales were up 24 per cent while Apac sales were up 13 per cent and EMEA revenue fell 2 per cent.

Matt Puckett, CFO of VF Corp, said the business remains focused on improving its operational execution, although it may take time for revenue performance to benefit from these actions.

“We are well positioned to advance our key priorities this year with an emphasis on increasing operating earnings through improved gross margins, generating healthy cash flow and reducing debt, all of which lead to a strengthened financial position.”

President and CEO of VF Corporation, Bracken Darrell, who was appointed last month, said he is “honored” to lead the company into the next chapter.

“We have all the necessary ingredients to unlock the company’s significant potential and return to delivering strong, sustainable and profitable growth which will translate to elevated shareholder returns.”