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Jun 28
VF Corp Q1 2026 Earnings Report
VF Corporation reported Q1 2026 results that beat guidance on both revenue and earnings, supported by strong performance in The North Face, Timberland, and Altra.
Key Takeaways
VF Corporation delivered a stronger-than-expected Q1 2026, with stable revenue and improved operating performance. While Vans continued to struggle, other key brands offset the weakness. The company made progress on cost savings and debt reduction.
Revenue reached $1.76 billion, slightly above expectations due to wholesale timing benefits.
Adjusted EPS improved to -$0.24 from -$0.35 a year ago.
Net loss narrowed to $87 million compared to $123 million in Q1 2025.
Vans declined 14%, but The North Face, Timberland, and Altra performed well.
VF Corp
VF Corp
VF Corp Revenue by Segment
Revenue by Segment
Outdoor segment Revenue
CapyFin.comActive segment Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
VF expects Q2 2026 revenue to decline slightly while operating income improves. FY26 guidance reflects increased free cash flow and operating margin improvement.
Positive Outlook
- Q2 adjusted operating income forecasted at $260M to $290M
- FY26 adjusted operating income expected to be higher than prior year
- Free cash flow projected to increase in FY26
- Operating cash flow anticipated to rise year-over-year
- Margin improvements achieved in Q1 expected to continue
Challenges Ahead
- Q2 revenue expected to decline by 2% to 4% in constant dollars
- Vans segment continues to face headwinds from channel rationalization
- SG&A dollars increased year-over-year
- No recovery timeline provided for underperforming brands
- Macro uncertainty could impact second half results
Revenue & Expenses
Visualization of income flow from segment revenue to net income