VF Corporation Progressed on Transformation in Its Third Quarter Fiscal 2026 Delivering Revenue Growth, Margin Expansion and Debt Reduction
Bracken Darrell, President and CEO, said: "In Q3, we delivered growth during our peak holiday quarter and beat revenue and operating income guidance. The North Face® and Timberland® each grew
Strong execution during holidays, led by the
- Completed sale of Dickies® during the quarter; disclosed Q3’26 figures are shown on both reported and adjusted excluding Dickies® ("ex Dickies®") bases
-
The North Face®, +
8% vs. LY or +5% C$, delivered growth during the brand's peak season -
Product newness and digital performance drove holiday period at Vans®, (
8% ) vs. LY or (10% ) C$ -
Timberland®, +
8% vs. LY or +5% C$, delivered fifth consecutive quarter of growth -
Americas region, +2% vs. LY; ex Dickies® +6% C$ with DTC and Wholesale channels up vs. LY -
Global DTC performance inflected to positive, +
4% vs. LY or +3% C$ ex Dickies®, driven by Digital
Q3'26 Financial Review
|
Reported |
Adjusted ex Dickies® |
Revenue % vs. LY |
+ |
+ |
Revenue % vs. LY (C$) |
( |
+ |
Gross margin |
|
|
|
+30bps vs. LY |
+10bps vs. LY |
SG&A % of revenue |
|
|
|
-100bps vs. LY |
-20bps vs. LY |
Operating income |
|
|
|
vs. LY of |
vs. LY of |
Operating margin |
|
|
|
+210bps vs. LY |
+30bps vs. LY |
Earnings per share |
|
|
|
vs. LY of |
vs. LY of |
Q4'26 and FY'26 Financial Outlook1
-
Q4'26:
-
Revenue flat to +
2% C$ vs. LY -
Adjusted OI of
$10M $30M
-
Revenue flat to +
-
FY'26:
-
Free cash flow up vs. LY
- Adjusted OI up vs. LY
- Operating cash flow up vs. LY
-
Free cash flow up vs. LY
- FYE'26 leverage at or below 3.5x, progressing towards medium-term target
1 Q4'26 and FY'26 P&L guidance exclude Dickies® in current and prior years; |
FY'26 free and operating cash flow guidance on a reported basis, including Dickies® through the date of sale in Q3'26 |
Webcast Information
VF management will host its third quarter Fiscal 2026 conference call beginning at approximately 8:00 a.m. ET today. The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.
Dividend Declared
VF’s Board of Directors declared a quarterly dividend of
About VF
VF Corporation is a portfolio of leading outdoor and active brands, including The North Face®, Vans® and Timberland®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit vfc.com.
Financial Presentation Disclosure
All per share amounts are presented on a diluted basis. This release refers to “reported” (R$) and “constant dollar” (C$) or “constant currency” amounts, terms that are described under the heading below “Constant Currency - Excluding the Impact of Foreign Currency.” Unless otherwise noted, “reported” and “constant dollar” or “constant currency” amounts are the same, and amounts will be as “reported” unless otherwise specified. This release also refers to “continuing” and “discontinued” operations amounts, which are concepts described under the heading “Discontinued Operations - Supreme.” Unless otherwise noted, results presented are based on continuing operations. This release also refers to results “excluding Dickies®” and “Adjusted excluding Dickies”, which are described under the heading “Dickies Divestiture”. This release also refers to “adjusted” amounts, a term that is described under the heading “Adjusted Amounts - Excluding Reinvent, Transaction and Deal Related Activities, Pension Settlement Charge and Non-cash Impairment Charge”. Unless otherwise noted, “reported” and “adjusted” amounts are the same. VF operates and reports using a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. This release refers to VF's third quarter of Fiscal 2026 as Q3'26, and similarly Q3'25 denotes VF's third quarter of Fiscal 2025, etc. VF defines “free cash flow” as cash flow from continuing operations less capital expenditures and software purchases and defines “net debt” as long-term debt, the current portion of long-term debt, short-term borrowings, and operating lease liabilities, less cash and cash equivalents per VF's consolidated balance sheet.
Change in Reportable Segments
VF realigned its reportable segments in the first quarter of Fiscal 2026. VF's updated reportable segments are Outdoor and Active. We have included an “All Other” category for the remaining operating segments that do not meet the quantitative threshold to be disclosed as a separate reportable segment. VF's financial results in this release reflect the new segments for all periods presented.
Dickies Divestiture
On September 15, 2025, VF entered into a definitive agreement with Bluestar Alliance LLC to sell the Dickies® brand business (“Dickies”) and on November 12, 2025, VF completed the sale of Dickies. “Reported” amounts present VF's third quarter Fiscal 2026 results in accordance with generally accepted accounting principles in the
Discontinued Operations - Supreme
On July 16, 2024, VF entered into a definitive Stock and Asset Purchase Agreement with EssilorLuxottica S.A. to sell the Supreme® brand business (“Supreme”). On October 1, 2024, VF completed the sale of Supreme. Accordingly, the company has reported the related held-for-sale assets and liabilities as assets and liabilities of discontinued operations and included the operating results and cash flows of the business in discontinued operations for all periods presented, through the date of sale.
Constant Currency - Excluding the Impact of Foreign Currency
This release refers to “reported” amounts in accordance with GAAP, which include translation and transactional impacts from foreign currency exchange rates. This release also refers to both “constant dollar” and “constant currency” amounts, which exclude the impact of translating foreign currencies into
Adjusted Amounts - Excluding Reinvent, Transaction and Deal Related Activities, Pension Settlement Charge and Non-cash Impairment Charge
The adjusted amounts in this release exclude costs related to Reinvent, VF's transformation program. Costs, including restructuring charges and project-related costs, were approximately
The adjusted amounts in this release exclude transaction and deal related activities associated with the divestiture of Dickies, including expenses and an estimated pre-tax gain on sale. Total transaction and deal related activities, included expenses of approximately
The adjusted amounts in this release exclude a non-cash pension settlement charge of approximately
The adjusted amounts in this release exclude a non-cash impairment charge related to the Napapijri reporting unit goodwill of approximately
Combined, the above items positively impacted earnings per share by
Reconciliations of measures calculated in accordance with GAAP to adjusted amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors. The company does not provide a reconciliation of forward-looking measures where the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors and is unable to reasonably predict certain items contained in the GAAP measures without unreasonable efforts. This is due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred and are out of the company's control or cannot be reasonably predicted. For the same reasons, the company is unable to address the probable significance of the unavailable information.
Forward-looking Statements
Certain statements included in this release are “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on VF’s expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. Words such as “will,” “anticipate,” “believe,” “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates may be used to identify forward-looking statements, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto, are forward-looking statements. Forward-looking statements are not guarantees, and actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel, footwear and accessories; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products, including as a result of tariffs; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF’s ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute its Reinvent transformation program, “The VF Way” and other business priorities, including measures to streamline and right-size its cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which it relies, are frequent targets of cyberattacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyberattacks, could result in data or financial loss, reputational harm, business disruption, damage to VF’s relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF’s vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF’s ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio, including the completed sale of the Dickies® brand; VF’s ability to execute, and realize benefits, successfully, or at all, from the completed sale of the Dickies® brand; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions, including any potential effects from changes in tariffs and international trade policy, and the
VF CORPORATION Supplemental Financial Information Reconciliation of Select GAAP Measures to Non-GAAP Measures - Three and Nine Months Ended December 2025 (Unaudited) (In thousands, except per share amounts) |
|||||||||||||||||||||||||||
Three Months Ended
|
|
As Reported
|
|
Reinvent (a) |
|
Impairment
|
|
Transaction
|
|
Adjusted |
|
Less: Adjusted
|
|
Adjusted
|
|||||||||||||
Revenues |
|
$ |
2,875,801 |
|
|
$ |
— |
|
|
$ |
— |
|
$ |
— |
|
|
$ |
2,875,801 |
|
|
$ |
55,747 |
|
|
$ |
2,820,054 |
|
Gross profit |
|
|
1,628,341 |
|
|
|
214 |
|
|
|
— |
|
|
— |
|
|
|
1,628,555 |
|
|
|
21,475 |
|
|
|
1,607,080 |
|
Percent |
|
|
56.6 |
% |
|
|
|
|
|
|
|
|
56.6 |
% |
|
|
|
|
57.0 |
% |
|||||||
Selling, general and administrative expenses |
|
|
1,308,571 |
|
|
|
(4,885 |
) |
|
|
— |
|
|
(8,173 |
) |
|
|
1,295,513 |
|
|
|
29,430 |
|
|
|
1,266,083 |
|
Percent |
|
|
45.5 |
% |
|
|
|
|
|
|
|
|
45.0 |
% |
|
|
|
|
44.9 |
% |
|||||||
Operating income (loss) |
|
|
289,054 |
|
|
|
5,099 |
|
|
|
30,716 |
|
|
8,173 |
|
|
|
333,042 |
|
|
|
(7,955 |
) |
|
|
340,997 |
|
Percent |
|
|
10.1 |
% |
|
|
|
|
|
|
|
|
11.6 |
% |
|
|
|
|
12.1 |
% |
|||||||
Diluted earnings (loss) per share from continuing operations (e) |
|
|
0.76 |
|
|
|
0.01 |
|
|
|
0.14 |
|
|
(0.34 |
) |
|
|
0.56 |
|
|
|
(0.01 |
) |
|
|
0.58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Nine Months Ended
|
|
As Reported
|
|
Reinvent (a) |
|
Impairment
|
|
Transaction
|
|
Adjusted |
|
Less: Adjusted
|
|
Adjusted
|
|||||||||||||
Revenues |
|
$ |
7,439,173 |
|
|
$ |
— |
|
|
$ |
— |
|
$ |
— |
|
|
$ |
7,439,173 |
|
|
$ |
309,255 |
|
|
$ |
7,129,918 |
|
Gross profit |
|
|
4,039,787 |
|
|
|
4,257 |
|
|
|
— |
|
|
— |
|
|
|
4,044,044 |
|
|
|
136,662 |
|
|
|
3,907,382 |
|
Percent |
|
|
54.3 |
% |
|
|
|
|
|
|
|
|
54.4 |
% |
|
|
|
|
54.8 |
% |
|||||||
Selling, general and administrative expenses |
|
|
3,494,006 |
|
|
|
(47,107 |
) |
|
|
— |
|
|
(10,194 |
) |
|
|
3,436,705 |
|
|
|
125,428 |
|
|
|
3,311,277 |
|
Percent |
|
|
47.0 |
% |
|
|
|
|
|
|
|
|
46.2 |
% |
|
|
|
|
46.4 |
% |
|||||||
Operating income |
|
|
515,065 |
|
|
|
51,364 |
|
|
|
30,716 |
|
|
10,194 |
|
|
|
607,339 |
|
|
|
11,235 |
|
|
|
596,104 |
|
Percent |
|
|
6.9 |
% |
|
|
|
|
|
|
|
|
8.2 |
% |
|
|
|
|
8.4 |
% |
|||||||
Diluted earnings per share from continuing operations (e) |
|
|
0.95 |
|
|
|
0.10 |
|
|
|
0.14 |
|
|
(0.34 |
) |
|
|
0.85 |
|
|
|
0.02 |
|
|
|
0.83 |
|
Notes:
(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, were
The Company incurred
(b) VF recognized a non-cash impairment charge related to the Napapijri reporting unit goodwill of
A non-cash pension settlement charge of
The impairment and pension settlement charge resulted in a net tax benefit of
(c) Transaction and deal related activities include costs associated with the divestiture of Dickies, which totaled
(d) The “Adjusted Contribution from Dickies” column represents the operating results of Dickies for the three and nine months ended December 2025 on an adjusted basis. This column excludes transaction and deal related costs as described above. The adjusted contribution from Dickies resulted in a net tax benefit of
(e) Amounts shown in the table have been calculated using unrounded numbers. The diluted earnings (loss) per share impacts were calculated using 397,157,000 and 394,414,000 weighted average common shares for the three and nine months ended December 2025, respectively.
Non-GAAP Financial Information
The financial information above has been presented on a GAAP basis, on an adjusted basis, which excludes the impact of Reinvent, an impairment and pension settlement charge and transaction and deal related activities, and on an adjusted basis excluding Dickies, which also excludes the operating results of Dickies on an adjusted basis. These adjusted presentations provides non-GAAP measures and are not based on any comprehensive set of accounting rules or principles. Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.
Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies. These measures should be used to evaluate the Company's results of operations only in conjunction with the corresponding GAAP measures.
VF CORPORATION Supplemental Financial Information Reconciliation of Select GAAP Measures to Non-GAAP Measures - Three and Nine Months Ended December 2024 (Unaudited) (In thousands, except per share amounts) |
||||||||||||||||||||||||||
Three Months Ended
|
|
As Reported
|
|
Reinvent (a) |
|
Impairment
|
|
Transaction
|
|
Adjusted |
|
Less: Adjusted
|
|
Adjusted
|
||||||||||||
Revenues |
|
$ |
2,833,912 |
|
|
$ |
— |
|
|
$ |
— |
|
$ |
— |
|
|
$ |
2,833,912 |
|
|
$ |
133,599 |
|
$ |
2,700,313 |
|
Gross profit |
|
|
1,595,174 |
|
|
|
— |
|
|
|
— |
|
|
— |
|
|
|
1,595,174 |
|
|
|
59,038 |
|
|
1,536,136 |
|
Percent |
|
|
56.3 |
% |
|
|
|
|
|
|
|
|
56.3 |
% |
|
|
|
|
56.9 |
% |
||||||
Selling, general and administrative expenses |
|
|
1,318,397 |
|
|
|
(47,282 |
) |
|
|
— |
|
|
— |
|
|
|
1,271,115 |
|
|
|
53,450 |
|
|
1,217,665 |
|
Percent |
|
|
46.5 |
% |
|
|
|
|
|
|
|
|
44.9 |
% |
|
|
|
|
45.1 |
% |
||||||
Operating income |
|
|
225,777 |
|
|
|
47,282 |
|
|
|
51,000 |
|
|
— |
|
|
|
324,059 |
|
|
|
5,588 |
|
|
318,471 |
|
Percent |
|
|
8.0 |
% |
|
|
|
|
|
|
|
|
11.4 |
% |
|
|
|
|
11.8 |
% |
||||||
Diluted earnings per share from continuing operations (e) |
|
|
0.43 |
|
|
|
0.09 |
|
|
|
0.10 |
|
|
— |
|
|
|
0.62 |
|
|
|
0.01 |
|
|
0.61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Nine Months Ended
|
|
As Reported
|
|
Reinvent (a) |
|
Impairment
|
|
Transaction
|
|
Adjusted |
|
Less: Adjusted
|
|
Adjusted
|
||||||||||||
Revenues |
|
$ |
7,360,920 |
|
|
$ |
— |
|
|
$ |
— |
|
$ |
— |
|
|
$ |
7,360,920 |
|
|
$ |
402,793 |
|
$ |
6,958,127 |
|
Gross profit |
|
|
3,941,409 |
|
|
|
412 |
|
|
|
— |
|
|
— |
|
|
|
3,941,821 |
|
|
|
172,726 |
|
|
3,769,095 |
|
Percent |
|
|
53.5 |
% |
|
|
|
|
|
|
|
|
53.6 |
% |
|
|
|
|
54.2 |
% |
||||||
Selling, general and administrative expenses |
|
|
3,513,749 |
|
|
|
(105,998 |
) |
|
|
— |
|
|
(490 |
) |
|
|
3,407,261 |
|
|
|
151,604 |
|
|
3,255,657 |
|
Percent |
|
|
47.7 |
% |
|
|
|
|
|
|
|
|
46.3 |
% |
|
|
|
|
46.8 |
% |
||||||
Operating income |
|
|
376,660 |
|
|
|
106,410 |
|
|
|
51,000 |
|
|
490 |
|
|
|
534,560 |
|
|
|
21,123 |
|
|
513,437 |
|
Percent |
|
|
5.1 |
% |
|
|
|
|
|
|
|
|
7.3 |
% |
|
|
|
|
7.4 |
% |
||||||
Diluted earnings per share from continuing operations (e) |
|
|
0.56 |
|
|
|
0.20 |
|
|
|
0.10 |
|
|
— |
|
|
|
0.87 |
|
|
|
0.05 |
|
|
0.82 |
|
Notes:
(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, were
(b) VF recognized a non-cash impairment charge related to the Dickies indefinite-lived trademark intangible asset of
(c) Transaction and deal related activities reflect activities associated with the review of strategic alternatives for the Global Packs business, consisting of the Kipling®, Eastpak® and JanSport® brands, which totaled
(d) The “Adjusted Contribution from Dickies” column represents the operating results of Dickies for the three and nine months ended December 2024 on an adjusted basis. This column excludes a noncash impairment charge as described above. The adjusted contribution from Dickies resulted in a net tax expense of
(e) Amounts shown in the table have been calculated using unrounded numbers. The diluted earnings per share impacts were calculated using 393,908,000 and 391,435,000 weighted average common shares for the three and nine months ended December 2024, respectively.
Non-GAAP Financial Information
The financial information above has been presented on a GAAP basis, on an adjusted basis, which excludes the impact of Reinvent, an impairment charge and transaction and deal related activities, and on an adjusted basis excluding Dickies, which also excludes the operating results of Dickies on an adjusted basis. These adjusted presentations provides non-GAAP measures and are not based on any comprehensive set of accounting rules or principles. Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.
Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies. These measures should be used to evaluate the Company's results of operations only in conjunction with the corresponding GAAP measures.
VF CORPORATION Supplemental Financial Information Reportable Segment Information - Constant Currency Basis (Unaudited) (In thousands, except per share amounts) |
||||||||||||
|
|
Three Months Ended December 2025 |
||||||||||
|
|
As Reported |
|
Adjust for Foreign |
|
|
||||||
|
|
under GAAP |
|
Currency Exchange |
|
Constant Currency |
||||||
Revenues: |
|
|
|
|
|
|
||||||
Outdoor segment |
|
$ |
1,926,008 |
|
|
$ |
(53,668 |
) |
|
$ |
1,872,340 |
|
Active segment |
|
|
671,835 |
|
|
|
(17,774 |
) |
|
|
654,061 |
|
All Other |
|
|
277,958 |
|
|
|
(6,736 |
) |
|
|
271,222 |
|
Total revenues |
|
$ |
2,875,801 |
|
|
$ |
(78,178 |
) |
|
$ |
2,797,623 |
|
Segment profit (loss): |
|
|
|
|
|
|
||||||
Outdoor segment |
|
$ |
407,726 |
|
|
$ |
(11,820 |
) |
|
$ |
395,906 |
|
Active segment |
|
|
(4,622 |
) |
|
|
(1,645 |
) |
|
|
(6,267 |
) |
Total segment profit |
|
|
403,104 |
|
|
|
(13,465 |
) |
|
|
389,639 |
|
Impairment of goodwill |
|
|
(30,716 |
) |
|
|
— |
|
|
|
(30,716 |
) |
Corporate and other income (expenses) (a) |
|
|
10,030 |
|
|
|
397 |
|
|
|
10,427 |
|
Interest expense, net |
|
|
(34,611 |
) |
|
|
(479 |
) |
|
|
(35,090 |
) |
“All Other” profit |
|
|
15,052 |
|
|
|
(141 |
) |
|
|
14,911 |
|
Income from continuing operations before income taxes |
|
$ |
362,859 |
|
|
$ |
(13,688 |
) |
|
$ |
349,171 |
|
Diluted earnings per share change from continuing operations |
|
|
76 |
% |
|
|
(6 |
%) |
|
|
70 |
% |
(a) An estimated pre-tax gain on the sale of Dickies of
Constant Currency Financial Information
VF is a global company that reports financial information in
To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the
These constant currency performance measures should be viewed in addition to, and not in lieu of or superior to, our operating performance measures calculated in accordance with GAAP. The constant currency information presented may not be comparable to similarly titled measures reported by other companies.
VF CORPORATION Supplemental Financial Information Reportable Segment Information - Constant Currency Basis (Unaudited) (In thousands, except per share amounts) |
||||||||||||
|
|
Nine Months Ended December 2025 |
||||||||||
|
|
As Reported |
|
Adjust for Foreign |
|
|
||||||
|
|
under GAAP |
|
Currency Exchange |
|
Constant Currency |
||||||
Revenues: |
|
|
|
|
|
|
||||||
Outdoor segment |
|
$ |
4,401,953 |
|
|
$ |
(103,023 |
) |
|
$ |
4,298,930 |
|
Active segment |
|
|
2,132,272 |
|
|
|
(41,285 |
) |
|
|
2,090,987 |
|
All Other |
|
|
904,948 |
|
|
|
(18,495 |
) |
|
|
886,453 |
|
Total revenues |
|
$ |
7,439,173 |
|
|
$ |
(162,803 |
) |
|
$ |
7,276,370 |
|
Segment profit: |
|
|
|
|
|
|
||||||
Outdoor segment |
|
$ |
666,196 |
|
|
$ |
(18,815 |
) |
|
$ |
647,381 |
|
Active segment |
|
|
117,964 |
|
|
|
(6,258 |
) |
|
|
111,706 |
|
Total segment profit |
|
|
784,160 |
|
|
|
(25,073 |
) |
|
|
759,087 |
|
Impairment of goodwill |
|
|
(30,716 |
) |
|
|
— |
|
|
|
(30,716 |
) |
Corporate and other expenses (a) |
|
|
(190,202 |
) |
|
|
1,017 |
|
|
|
(189,185 |
) |
Interest expense, net |
|
|
(121,940 |
) |
|
|
(1,473 |
) |
|
|
(123,413 |
) |
“All Other” profit |
|
|
63,245 |
|
|
|
(2,103 |
) |
|
|
61,142 |
|
Income from continuing operations before income taxes |
|
$ |
504,547 |
|
|
$ |
(27,632 |
) |
|
$ |
476,915 |
|
Diluted earnings per share change from continuing operations |
|
|
69 |
% |
|
|
(11 |
%) |
|
|
58 |
% |
(a) An estimated pre-tax gain on the sale of Dickies of
Constant Currency Financial Information
VF is a global company that reports financial information in
To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the
These constant currency performance measures should be viewed in addition to, and not in lieu of or superior to, our operating performance measures calculated in accordance with GAAP. The constant currency information presented may not be comparable to similarly titled measures reported by other companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260128355682/en/
Investor Contact:
Allegra Perry
ir@vfc.com
Media Contact:
Colin Wheeler
corporate_communications@vfc.com
Source: VF Corporation
