Financial Performance - Net revenues for Q3 FY25 were $2,833,912, a 1.9% increase from $2,780,194 in Q3 FY24[12] - Operating income for Q3 FY25 was $225,777, compared to a loss of $91,242 in Q3 FY24, marking a significant turnaround[12] - The company reported a net income of $167,780 in Q3 FY25, compared to a net loss of $42,452 in Q3 FY24[12] - Earnings per share for continuing operations was $0.43 in Q3 FY25, a recovery from a loss of $0.24 in Q3 FY24[12] - Comprehensive income for Q3 FY25 was $286,875, compared to a loss of $82,120 in Q3 FY24, showing a significant improvement[15] - Income from continuing operations for the three months ended December 2024 was $169.1 million ($0.43 per diluted share), compared to a loss of $91.7 million ($(0.24) per diluted share) in the same period of 2023[145] Assets and Liabilities - The total assets decreased to $10,554,222 in December 2024 from $12,616,474 in December 2023, reflecting a decline of approximately 16.4%[9] - Total liabilities decreased to $8,873,992 in December 2024 from $10,507,281 in December 2023, a reduction of about 15.5%[9] - Cash and equivalents increased to $1,369,376 in December 2024 from $975,937 in December 2023, representing a growth of approximately 40.3%[9] - Total cash, cash equivalents, and restricted cash at the end of December 2024 was $1,371,309,000, up from $989,322,000 at the end of December 2023[22] - Working capital increased to $1.79 billion at December 2024, up from $733.6 million in March 2024[185] Cash Flow - Cash provided by operating activities for continuing operations was $609,545,000, down from $975,171,000 in the previous year[19] - Cash provided by investing activities for continuing operations was $1,450,486,000, a turnaround from cash used of $184,498,000 in the same period last year[19] - Cash dividends paid were $105,094,000, a decrease from $268,155,000 in the previous year[19] - The company experienced a net increase in cash of $694,352,000 for the nine months ended December 2024, compared to a net increase of $173,003,000 in the same period last year[19] Impairments and Charges - The company incurred an impairment of goodwill and intangible assets amounting to $51,000 in Q3 FY25, down from $257,096 in Q3 FY24[12] - The company reported an impairment of goodwill and intangible assets of $51,000,000 for the nine months ended December 2024, down from $257,096,000 in the prior year[19] - Impairment charges of $94.0 million and $51.0 million were recorded for Supreme's goodwill and indefinite-lived trademark intangible asset, respectively, during Q1 FY25[55] Segment Performance - VF's total segment revenues for the three months ended December 2024 were $2,833.9 million, an increase from $2,780.2 million in the same period of 2023, representing a growth of 1.9%[90] - The Outdoor segment generated revenues of $1,851.1 million in Q3 FY25, up from $1,738.6 million in Q3 FY24, reflecting a growth of 6.5%[90] - The Active segment reported revenues of $766.3 million in Q3 FY25, a decrease of 6.5% compared to $819.3 million in Q3 FY24[90] Debt and Financing - Payments on long-term debt amounted to $1,000,829,000, compared to $907,926,000 in the same period last year[19] - VF's total outstanding debt averaged $5.0 billion in the nine months ended December 2024, with a weighted average interest rate of 3.3%[142] - VF's long-term debt ratings were 'BB' by S&P and 'Ba1' by Moody's as of December 2024, with a stable outlook[202] Restructuring and Cost Management - The company initiated a large-scale cost reduction program expected to deliver $300 million in annual fixed cost savings[131] - VF recorded restructuring charges of $16.4 million and $41.8 million for the three and nine months ended December 2024, respectively, totaling $150.5 million since the program's inception[130] - The total restructuring accrual at December 2024 was $55.0 million, with $53.5 million expected to be paid within the next 12 months[120] Taxation - The effective income tax rate for the nine months ended December 2024 was 16.1%, a significant decrease from 578.0% in the same period of 2023[78] - The net discrete tax benefit for the nine months ended December 2024 was $1.9 million, primarily from unrecognized tax benefits and interest[78] Shareholder Returns - VF intends to continue paying quarterly dividends, subject to Board approval[204] - As of December 2024, VF had $2.5 billion remaining for future share repurchases under its authorization[196] Discontinued Operations - VF Corporation completed the sale of the Supreme brand to EssilorLuxottica S.A. for an aggregate base purchase price of $1.500 billion, receiving net proceeds of $1.486 billion[52] - The estimated after-tax loss on the sale of Supreme was $127.5 million, included in the income (loss) from discontinued operations for the nine months ended December 2024[52] - The company completed the sale of the Supreme brand business on October 1, 2024, reallocating related interest expenses to discontinued operations[127]

Core Insights - V.F. Corporation reported revenue of $2.83 billion for the quarter ended December 2024, a decrease of 4.3% year-over-year, but exceeded the Zacks Consensus Estimate of $2.75 billion by 3.19% [1] - The company's EPS was $0.62, up from $0.57 in the same quarter last year, representing a significant surprise of 82.35% compared to the consensus estimate of $0.34 [1] Revenue Performance - Geographic Revenue: - Americas: $1.51 billion, down 5% year-over-year, exceeding the estimate of $1.46 billion [4] - Europe: $894.20 million, down 2% year-over-year, slightly below the estimate of $900.35 million [4] - Asia-Pacific: $432.90 million, down 6.2% year-over-year, below the estimate of $456.16 million [4] - Revenue by Segment: - Work: $216.46 million, down 2.6% year-over-year, exceeding the estimate of $211.78 million [4] - Outdoor: $1.85 billion, up 6.5% year-over-year, surpassing the estimate of $1.75 billion [4] - Active: $766.31 million, down 23.3% year-over-year, below the estimate of $815.67 million [4] Brand Performance - Revenue by Brand: - Dickies: $133.60 million, down 9.7% year-over-year, exceeding the estimate of $129.87 million [4] - Timberland: $527 million, up 11.4% year-over-year, surpassing the estimate of $458.51 million [4] - Vans: $607.60 million, down 9.1% year-over-year, slightly below the estimate of $612.27 million [4] - The North Face: $1.25 billion, up 5.1% year-over-year, exceeding the estimate of $1.17 billion [4] Market Performance - V.F. shares have returned +23.9% over the past month, significantly outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Revenue Performance - Revenue for Q3'25 was $2.8 billion, up 2% year-over-year, with all regions showing growth, particularly The North Face® and Timberland[12] - VF's total revenue for Q3 2025 was $2,833.9 million, representing a 2% increase compared to $2,780.2 million in Q3 2024[33] - The North Face brand revenue increased by 5% to $1,253.3 million, while Vans brand revenue decreased by 9% to $607.6 million[33] - The Americas region generated $1,506.7 million in revenue, a 1% increase from $1,486.0 million in Q3 2024[33] - Total segment revenues for Q3 2024 were $2,833,912, representing a 2% increase from $2,780,194 in Q3 2023[41] - Outdoor segment revenue increased by 6% to $1,851,146, while Active segment revenue decreased by 6% to $766,307[41] Profitability and Earnings - Operating income was $226 million, with an operating margin of 8.0%, an increase of 1,130 basis points year-over-year[12] - Earnings per share (EPS) improved to $0.43 compared to a loss of $(0.24) in Q3'24[12] - Net income for Q3 2025 was $167.8 million, compared to a net loss of $42.5 million in the same quarter last year[36] - Earnings per share for continuing operations was $0.43, a recovery from a loss of $0.24 per share in Q3 2024[36] - The diluted earnings per share from continuing operations for the nine months ended December 2024 was $0.56, compared to a loss of $1.56 for the same period in 2023[70] Financial Guidance and Projections - The company is establishing Q4'25 guidance with expected revenue decline of 4% to 6% year-over-year[12] - Adjusted operating loss for Q4'25 is projected to be between $(30) million to $0 million[12] - Free cash flow guidance for FY'25 has been increased to $440 million, up from the previous guidance of $425 million[12] Cost Management and Savings - The company is on track to deliver $300 million in gross savings from its Reinvent program, with $55 million generated in Q3'25[16] - VF's total costs and operating expenses for Q3 2025 were $2,608.1 million, a decrease from $2,871.4 million in Q3 2024[36] - Restructuring charges related to the Reinvent transformation program are estimated to be approximately $190.0 million, with cumulative charges through Q3 of Fiscal 2025 at $150.5 million[62] Debt and Cash Flow - Net debt decreased by $1.9 billion year-over-year, with net inventories down 14%[12] - Cash provided by operating activities for continuing operations was $609,545, a decrease from $975,171 in the previous year[39] - Total liabilities decreased to $8,873,992 from $9,954,598 in March 2024, a reduction of 10.9%[38] - Cash, cash equivalents, and restricted cash at the end of the period were $1,371,309, up from $676,957 at the beginning of the year[39] Impairments and Charges - The company reported a goodwill impairment of $51 million in Q3 2025, down from $257.1 million in the previous year[36] - The company incurred an impairment of goodwill and intangible assets amounting to $51,000 for the nine months ended December 2024[44] - The company recognized a noncash impairment charge of $51.0 million related to the Dickies trademark intangible asset during the nine months ended December 2024[63] Brand and Market Insights - Vans® revenue declined by 9% year-over-year, while Timberland saw an increase of 11%[18] - The company plans to share more on its iconic brands at the upcoming Investor Day in March[12] - The North Face brand experienced a global revenue growth of 5% for the three months ended December 2024, while Vans saw a decline of 8%[81] - Direct-to-consumer (DTC) sales decreased by 3% to $1,565.6 million, while wholesale sales increased by 8% to $1,268.3 million[33] - Geographic revenue growth for the Americas was 1% for the three months ended December 2024, with a decline of 7% for the nine months[83] - Direct-to-consumer channel revenue decreased by 3% for the three months ended December 2024, with a decline of 7% for the nine months[83] User Data and Customer Base - The company reported a significant increase in user data, with a focus on expanding its customer base across various brands including Vans and Timberland[86]

VF Corporation (VFC) Q3 Fiscal 2025 Earnings Preview - VF Corporation is expected to report a year-over-year decline in both revenue and earnings for Q3 fiscal 2025, with revenue estimated at $2.8 billion, a 7.2% decline from the prior-year quarter [1] - Earnings are projected at 34 cents per share, a more than 40% decline from the year-ago quarter, though the estimate has risen by a penny in the past 30 days [2] - The company has a history of earnings surprises, with a 46.3% surprise in the last reported quarter, but has missed consensus estimates by a sharp margin in the trailing four quarters [2] Key Factors Impacting VFC's Q3 Results - Challenging operating conditions, including inflationary pressures, are expected to negatively impact results [3] - Weak performance in certain regions and channels, particularly in the wholesale business in the United States, where major partners are taking a cautious approach to forward orders [3] - Direct-to-consumer (DTC) business is also underperforming, with Americas sales expected to fall 11.3% year-over-year, wholesale revenues to decline 0.7%, and DTC revenues to drop 11.5% [3] Brand Performance and Market Challenges - VF Corp's brands, including The North Face and Vans, are experiencing softness due to shifting consumer preferences, increased competition, and declining appeal among younger customers [4] - Sales at Vans and The North Face are anticipated to decline by 8.7% and 5.9%, respectively, for the quarter [4] - Elevated promotional activity and higher costs are likely to have further dented the company's bottom-line performance [5] Management Guidance and Cost Management - Management projected Q3 revenues to be between $2.7-$2.75 billion, down 1-3% year-over-year, including a negative foreign exchange impact of about 100 basis points [5] - Adjusted operating income is expected to be in the range of $170-$200 million, down from $218 million in the year-earlier quarter [5] - Selling, general, and administrative costs are anticipated to increase modestly due to the reintroduction of incentive compensation [5] Transformation Program and Valuation - VF Corp's Reinvent program aims to improve brand-building, operating performance, and cost management, with a focus on North America performance, Vans' turnaround, and strengthening the balance sheet [6] - The company's stock is trading at a premium valuation, with a forward 12-month price/earnings ratio of 31.18, higher than the industry average of 14.72 and its median of 17.13 [8] - VFC shares have surged 53.9% in the past three months, outperforming the industry's 17.1% growth [9] Other Companies with Potential Earnings Beats - lululemon athletica (LULU) is expected to report Q4 fiscal 2024 revenue of $3.6 billion, an 11.3% year-over-year increase, with earnings projected at $5.81 per share, up 9.8% from the year-earlier quarter [10][11] - Royal Caribbean Cruises (RCL) is anticipated to report Q4 2024 revenue of $3.8 billion, a 13.2% year-over-year increase, with earnings projected at $1.50 per share, up 20% from the year-earlier quarter [12][13] - Fox (FOXA) is expected to report Q3 fiscal 2025 revenue of $4.9 billion, a 15.4% year-over-year increase, with earnings projected at 64 cents per share, up 88.2% from the year-earlier quarter [14][15]

Stock Performance - VFC is trading above its 50-day SMA of $21.03 and 200-day SMA of $16.84, indicating a strong upward momentum and long-term bullish trend [1][2] - VFC shares have gained 20% in the past three months, outperforming the Zacks Textile - Apparel industry's 12.1% growth, the Consumer Discretionary sector's 5.3% growth, and the S&P 500 index's 1.2% growth [4] Reinvent Transformation Program - The Reinvent program focuses on improving North America's performance, turning around Vans, reducing costs, and strengthening the balance sheet [6] - VFC has achieved $65 million in cost savings in Q3 fiscal 2025, bringing cumulative savings to approximately $200 million, with plans to reach $300 million by the end of the fiscal year [10] - The company is reinvesting some savings into product and brand building while strengthening its balance sheet [11] Operational Improvements - VFC's Americas segment has shown sequential improvement, with early signs of recovery and brand-elevation efforts gaining traction, particularly with the Vans turnaround [12] - Operational efficiency improvements have led to a 120 bps expansion in gross profit margin for Q2 fiscal 2025, with further gross margin gains expected in Q3 due to lower product costs and fewer reserves [13] Strategic Moves - VFC's divestiture of the Supreme brand aims to refocus on core business and improve operational efficiency, enhancing financial flexibility by reducing leverage [8] Growth Outlook - VFC's focus on the Reinvent program, operational improvements, and brand strengthening efforts like Vans and The North Face present a positive growth outlook [14] - The company anticipates sequential improvement in overall business and revenue trends during Q4 fiscal 2025, with gross margin and SG&A growth rates mirroring Q3 [13]

V.F. Corporation (VFC) reached a new 52-week high of $23.49 yesterday, a significant milestone that has caught investors’ attention. The stock momentum is driven by the company’s ongoing strategic initiatives and Reinvent transformation program focused on strengthening its brands and improving operational performance. This continued rise in share price leaves investors weighing whether to buy the stock at these levels, hold their positions or book profits.In the past month, V.F. Corp.'s shares surged 19.8%, ...

The company seems as if it might be walking the walk with its rationalization efforts.Investors returned to beleaguered apparel maker VF Corp (VFC -6.96%) over the past few days. Much of this was due to the company's surprisingly robust second-quarter fiscal 2025 results and the pronouncements made by management at the company's subsequent investor day event. As a result, according to data compiled by S&P Global Market Intelligence, VF Corp stock was up by almost 24% in price week to date as of early Friday ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 1-5256 V. F. CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23-1180120 (State or other ...

V.F. Corporation VFC shares are trading higher on Tuesday.The parent company of Vans and The North Face reported second-quarter revenue of $2.8 billion, beating the consensus estimate of $2.7 billion, according to Benzinga Pro. The company reported second-quarter earnings of 60 cents per share, beating analyst estimates of 37 cents per share.BMO Capital Markets analyst Simeon Siegel reiterated the Market Perform rating, with a price forecast of $14.The analyst acknowledged the initial signs of progress and ...

V.F. Corporation (VFC) reported second-quarter fiscal 2025 results, wherein the bottom and top lines beat the Zacks Consensus Estimate. Although the company's sales and earnings declined year over year, the results reflected sequential revenue improvements across its brands. Moreover, VFC is on track with its Reinvent program and expects to deliver on its cost-saving target. Quarterly results met management's expectations, reflecting a sequential and broad-based improvement year over year. Driven by the bet ...