VF Corp revenue totals $2.8 billion in Q2 FY26, net debt drops 21%

Published



October 28, 2025

VF Corporation’s revenue reached $2.8 billion in the second quarter of the 2026 financial year, rising 2% year on year. The Vans, Timberland, The North Face, and Dickies owner also reduced its net debt by 21% compared to the same period last year, it announced on October 28.

VF Corp owns the brands Vans, Timberland, The North Face, and Dickies – DR

Vans reported a 9% loss in the second quarter, down from 11% a year prior. Timberland and The North Face reported 7% and 6% growth respectively. The results exceeded prior guidance and reflect better-than-expected back-to-school results and early wholesale demand, according to VF Corp.
 
“In Q2 we made further progress on our turnaround plan,” said the business’ president and CEO Bracken Darrell in a release posted on VF Corp’s website. “We delivered broad-based growth for The North Face® and Timberland®, while continuing to moderate declines in Vans®. We also announced the pending sale of Dickies® for $600 million, enhancing our capacity to invest in the portfolio and drive shareholder returns. Looking ahead, we will continue to focus on generating value across our brands and returning the company to sustainable and profitable growth.”

VF Corp’s adjusted operating income totalled $330 million and its operating income was at $313 million in the second quarter. The business reported an operating margin of 11.2%, up by +130 bps compared to the second quarter of the 2025 fiscal year, with a gross margin of 52.2%.
 
VF Corp expects to report adjusted operating income of over $275 million in the third quarter of the 2026 financial year. The business foresees both its adjusted operating income and its operating cash flow increasing year on year for the whole 2026 fiscal year.
 
Along with announcing its results for the quarter ending September 27, the business’ Board of Directors authorised a quarterly per share dividend of $0.09, payable on December 18, 2025, to shareholders of record at the close of business on December 10, 2025. VF Corp’s shares were up about 4% in premarket trading, Reuters reported. Based in Denver, Colorado, the business’ results come in contrast to a backdrop of increasing US retail pressure, fuelled by US-imposed global tariffs.

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