VF Corp. posted second-quarter results that beat Wall Street’s expectations, but shares still fell in pre-market trading on Wednesday.
For the second quarter ended Sept. 26, net income jumped 50.3 percent to $285.3 million, or 71 cents a diluted share, from $189.8 million, or 48 cents, in the same year-ago period. Revenues were down 3.8 percent to $2.7 billion from $2.80 billion.
Wall Street was expecting revenues of $2.67 billion and adjusted diluted earnings per share (EPS) of 54 cents. VF bested the EPS estimate by 17 cents.
By brand, revenue for The North Face rose 4 percent to $1.21 billion, and Timberland also grew 4 percent to $525.9 million. Revenue for Vans was down 10 percent to $547.6 million, while VF’s Other Brands dropped 22 percent to $414.3 million.
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“The North Face and Timberland continued to deliver consistent growth, and Altra grew more than 40 percent, all powered by bold product design and innovation and brand storytelling that are resonating with our consumers,” Bracken Darrell, president and chief executive officer, said in a statement. “Our plan to reignite Vans is working — global [direct-to-consumer (DTC)] is growing again for the first time in almost five years, and strong orders from wholesale partners continue to give us confidence of a second half improvement.”
Darrell added: “We are delivering sustainable and profitable growth on our path to achieve our full-year guidance and medium-term targets, as the upside potential in our business becomes even more evident.”
The company has been signaling that the Vans business would turn around first in its DTC channel, followed by wholesale.
Data points ahead of the report indicated that web and foot traffic for Vans indicate recovery, particularly with male teens, while Timberland resonates with upper-income teens.
The drop in Other Brands for the quarter was due in part to the sale of Dickies, which was sold to Bluestar Alliance LLC for $600 million. The transaction was completed on Nov. 12, 2025. Excluding Dickies, revenue for the quarter was up 1 percent, better than VF’s guidance of flat from year-ago levels. Meanwhile, the growth at Altra continues to be one of VF’s biggest growth stories.
By region, the Americas fell the least at 2 percent to $1.32 billion. EMEA (Europe, Middle East and Africa) was down 6 percent to $1.01 billion and APAC (Asia Pacific) was down 7 percent to $361.0 million.
By channel, wholesale revenue including royalties fell 6 percent to $1.78 billion, while DTC inched up 1 percent to $915.2 million
For the six months, net income was $188.1 million, or 47 cents a diluted share, on revenue of $4.36 billion.
VF reaffirmed Fiscal Year 2027 guidance, with revenue at up 2 percent or better. That guidance was first disclosed in July when the company reported first quarter earnings results, which was at the time ahead of the 1 to 2 percent range previously given.
