V F CORP SEC 10-Q Report

VF Corporation, a global leader in branded lifestyle apparel, footwear, and accessories, has released its Form 10-Q report for the third quarter of Fiscal 2026. The report provides a comprehensive overview of the company's financial performance and key business activities, reflecting VF's strategic initiatives and operational efficiency.

Financial Highlights

• Revenues: $2,802.7 million, reflecting a slight increase from the previous year's $2,757.9 million, indicating stable sales performance.
• Operating Income: $312.6 million, an improvement from $273.9 million in the prior year, suggesting enhanced operational efficiency.
• Net Income: $189.8 million, a significant increase compared to $52.2 million in the previous year, driven by improved cost management and operational performance.
• Earnings (loss) per common share - basic: $0.49, up from $0.13 in the prior year, reflecting the company's improved profitability.
• Earnings (loss) per common share - diluted: $0.48, compared to $0.13 in the previous year, indicating better earnings performance.

Business Highlights

• Revenue Segments: VF Corporation's revenue is divided into three main segments: Outdoor, Active, and All Other. The Outdoor segment includes brands like The North Face® and Timberland®, while the Active segment comprises brands such as Vans®, Kipling®, Eastpak®, and JanSport®. The 'All Other' category includes brands like Dickies®, Altra®, Smartwool®, Napapijri®, and Icebreaker®.
• Geographical Performance: The company reported its revenues across three main geographical regions: Americas, Europe, and Asia-Pacific. The Americas region contributed significantly to the total revenue, followed by Europe and Asia-Pacific.
• Segment Realignment: In the first quarter of Fiscal 2026, VF Corporation realigned its reportable segments to better reflect management's focus and operational structure. The Timberland® and Timberland PRO® brands are now managed as one operating segment and aggregated with The North Face® brand in the Outdoor segment.
• Future Outlook: VF Corporation expects to recognize $51.2 million of fixed consideration related to future minimum guarantees under its licensing agreements, which will be recognized over time through March 2031. This indicates a stable revenue stream from licensing agreements.
• Operational Changes: The company has entered into a definitive agreement to sell the Dickies® brand to Bluestar Alliance LLC for $600 million. This sale is expected to result in a pre-tax gain in the third quarter of Fiscal 2026, indicating a strategic shift in VF's brand portfolio.
• Discontinued Operations: The Supreme® brand was sold to EssilorLuxottica S.A. for $1.5 billion, with the transaction completed on October 1, 2024. This sale was part of VF's strategy to streamline its brand portfolio and focus on core operations.
• Lease Operations: VF Corporation continues to manage a substantial number of operating leases for retail locations, office spaces, and distribution facilities. The total lease cost for the six months ended September 2025 was $268.7 million, reflecting the company's ongoing commitment to maintaining its operational infrastructure.
• Supply Chain Financing: VF facilitates a voluntary supply chain finance program, allowing suppliers to leverage VF's credit rating for early payment. As of September 2025, $696.6 million of obligations were due to suppliers participating in this program, highlighting VF's efforts to support its supply chain partners.
• Pension Plan Termination: VF has executed a resolution to terminate its U.S. qualified pension plan, which is expected to be completed in Fiscal 2026. This move is part of VF's broader strategy to manage its pension obligations and reduce future liabilities.

SEC Filing: V F CORP [ VFC ] - 10-Q - Oct. 28, 2025