1Sem.·

V.F. Corp Q1 Earnings Highlights

$VFC (+0,19 %)


🔹 Revenue: $1.76B (Est. $1.70B) 🟢; FLAT YoY or DOWN -2% Constant Currency

🔹 Adj. EPS: ($0.24) (Est. ($0.33)) 🟢

🔹 Adj. Operating Loss: ($56M) vs. guide of ($125M) to ($110M); 🟢

🔹 Adj. Operating Margin: -3.2%; UP +270 bps YoY

🔹 Adj. Gross Margin: UP +290 bps YoY

🔹 SG&A: FLAT YoY (Adjusted)

🔹 Net Debt: DOWN -$1.4B or -20% YoY


Q1 Segments (YoY):

🔹 The North Face®: STRONG growth

🔹 Timberland®: POSITIVE momentum

🔹 Vans®: DOWN -14% YoY (channel rationalization)

🔹 Altra®: STRONG growth

🔹 Excluding Vans®, Total Revenue: UP +6% YoY


Guidance:

Q2 FY26

🔹 Revenue: DOWN -4% to -2% Constant Currency

🔹 Adj. Operating Income: $260M–$290M


FY26 Outlook

🔹 Free Cash Flow: UP YoY (includes tariff impact)

🔹 Adj. Operating Income: UP YoY

🔹 Operating Cash Flow: UP YoY


CEO Commentary:

🔸 “We performed ahead of expectations, improving our topline trend and delivering a stronger bottom line.” – Bracken Darrell, CEO

🔸 “We’re reducing debt, lowering costs, and resetting VF for growth.”

🔸 “Soon we will move to growth—that’s what the entire organization is now focused on.”

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