Denver’s VF Corp is consolidating nationwide, affecting hundreds of jobs
VF Corp., the Denver-based parent company of Vans, North Face, Dickies, Timberland, JanSport and more, is shrinking its operations across the country.
The company is closing its Virginia distribution center, according to a layoff notice sent to Virginia officials on Nov. 15. The closure is expected to affect 242 jobs on the East Coast with the job cuts expected to start Jan. 19, 2025.
The 500,000 square-foot distribution center in Martinsville, Va. is listed for sale at an undisclosed price.
The Denver company is also moving the headquarters of Dickies from its century-old hometown of Fort Worth to Costa Mesa, Calif., where Vans is headquartered, the company announced. It came as a shock to the Texas city since Dickies moved its operations to a new building in downtown last year, spending more than $4 million on renovations, the Fort Worth Star-Telegram reported.
The move is set for May 2025 and is expected to impact approximately 120 employees.
VF Corp. relocated its HQ to Denver in 2019 from North Carolina, but has recently struggled with falling revenues — especially in the Americas.
The company reported it generated $2.8 billion in revenues in the last quarter, down 6% from the previous year, according to an earnings report released in October. It was an improvement from the previous earnings report, where revenues were down 10%.
Vans and Dickies were both down 11% in the last quarter, earnings show.
The company said in a statement that the Martinsville distribution center and the Dickies headquarters move is part of its larger “Reinvent” strategy, the VF Corp.’s effort to reshape the company and save $300 million in costs by the end of 2025.
VF Corp. officials announced in May that the Virginia distribution center would close and will move its shipping to its Ontario, Calif. distribution center and a third-party logistics provider. It will continue operating until March 2025.
“As part of VF’s Reinvent strategy, we have evaluated how we are shipping products to best meet the needs of our customers,” the company said in a statement.
Dickies move to California, announced this week, is another effort by the company to shrink its real estate footprint.
“By co-locating Dickies with our Vans team in Costa Mesa, we will create an even more vibrant campus where creativity and best practice sharing can thrive through greater collaboration and connections – creating a dynamic and innovative environment similar to our other VF co-branded offices,” the company said in a statement.
In addition, VF Corp. sold the Supreme brand to Ray-Ban maker EssilorLuxottica in a $1.5 billion deal in October after acquiring it in 2020 for $2.1 billion.