Economic Indicators - Pre-market futures show slight increases with Dow up +20 points, S&P 500 up +8 points, and Nasdaq up +50 points, following economic news [1] - ADP reported +104K new private-sector jobs in July, a significant rebound from the revised -23K in June and exceeding the consensus estimate of +64K [3][6] - Q2 GDP growth was reported at +3.0%, surpassing the expected +2.3% and marking a recovery from the -0.5% in Q1 [7][8] Company Earnings - Kraft Heinz (KHC) exceeded bottom-line earnings estimates by +7.8%, reporting 69 cents per share [2] - V.F. Corp. (VFC) reported a smaller-than-expected loss, improving by +31.5% [2] - Etsy (ETSY) missed Zacks consensus estimates by -53.7% [2] Sector Performance - The job growth breakdown shows Goods-producing jobs at +30% and Services at +70%, with Leisure & Hospitality leading at +46K new jobs [4] - Small companies added +12K jobs, while medium and large businesses contributed +46K jobs [5] - The Core PCE Price Index rose to +2.5%, indicating stronger-than-expected economic growth without runaway inflation [8][9] Market Expectations - The Federal Open Market Committee (FOMC) is expected to maintain interest rates at +4.25-4.50% during the upcoming meeting [9] - Anticipation surrounds whether voting members will support or oppose Fed Chair Jerome Powell's stance on interest rates [10] - Major companies like Microsoft (MSFT) and Meta Platforms (META) are set to report earnings after the market closes [11]

Core Insights - V.F. Corporation (VFC) reported a revenue of $1.76 billion for the quarter ended June 2025, reflecting a year-over-year decline of 7.7% and an EPS of -$0.24, an improvement from -$0.33 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $1.69 billion by 3.96%, while the EPS surprised positively by 31.43% compared to the consensus estimate of -$0.35 [1] Financial Performance - The company's shares returned +1.3% over the past month, underperforming the Zacks S&P 500 composite's +3.4% change [3] - VFC holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3] Geographic Revenue Breakdown - Americas: $937.6 million, below the average estimate of $951.6 million, with a year-over-year decline of 10.3% [4] - Europe: $551.3 million, exceeding the estimate of $495.87 million, with a slight year-over-year decline of 0.3% [4] - Asia-Pacific: $271.8 million, below the estimate of $278.36 million, with a year-over-year decline of 12.2% [4] Revenue by Segment - Outdoor: $812.47 million, slightly below the estimate of $832.32 million, with a year-over-year increase of 2.8% [4] - Active: $699.69 million, above the estimate of $691.15 million, but reflecting a significant year-over-year decline of 25.7% [4] Revenue by Brand - The North Face: $557.4 million, exceeding the estimate of $523.34 million, with a year-over-year increase of 6.3% [4] - Vans: $498 million, above the estimate of $472.72 million, but showing a year-over-year decline of 14.4% [4] - Timberland: $255.1 million, surpassing the estimate of $230.92 million, with a year-over-year increase of 11.2% [4] Revenue by Channel - Direct-To-Consumer: $720.7 million, below the estimate of $748.72 million, with a year-over-year decline of 18% [4] Segment Profit (Loss) - Active: $56.84 million, below the estimate of $66.22 million [4] - Outdoor: $-42.27 million, better than the estimate of $-78.77 million [4]

Core Insights - Steven Madden reported revenue of $559 million for the quarter ended June 2025, reflecting a 6.8% increase year-over-year, but fell short of the Zacks Consensus Estimate of $575.92 million by 2.94% [1] - The company's EPS was $0.20, down from $0.57 in the same quarter last year, resulting in an EPS surprise of -16.67% against the consensus estimate of $0.24 [1] Revenue Breakdown - Total Revenue (Net Sales) was $556.09 million, compared to the estimated $573.58 million, marking a 6.6% increase year-over-year [4] - Total Wholesale revenue was $360.6 million, below the estimated $395.65 million, representing a decline of 6.4% year-over-year [4] - Direct-to-Consumer revenue reached $195.5 million, exceeding the estimate of $142.39 million, with a significant year-over-year increase of 43.3% [4] - Licensing fee income totaled $2.91 million, surpassing the estimated $2.36 million, and showed a year-over-year growth of 57.8% [4] Stock Performance - Over the past month, Steven Madden's shares returned +4.4%, outperforming the Zacks S&P 500 composite's +3.4% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [3]

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $1.8 billion, flat on a reported basis and down 2% year-over-year in constant dollars, which was better than the guidance of down 3% to down 5% [31][32] - Adjusted gross margin increased by 200 basis points to 54.1%, driven by higher quality inventory and lower discounts [34] - Adjusted loss per share was $0.24 compared to $0.35 in Q1 of the previous year [35] Business Line Data and Key Metrics Changes - Vans revenue decreased by 15%, with 40% of the decline attributed to channel rationalization actions [12][33] - The North Face grew by 5%, with strong performance in footwear and bags, aiming for higher growth rates in the future [14][32] - Timberland's revenue increased by 9%, reflecting growth across all regions and channels [16][33] Market Data and Key Metrics Changes - The APAC region grew by 4%, while the Americas and EMEA regions saw declines of 3% and 2%, respectively [33] - Excluding Vans, the Americas region was up 3% year-over-year [33] Company Strategy and Development Direction - The company is focused on transforming its operations, improving cost structures, and aiming for growth after two years of resetting [9][11] - A unified product and marketing engine is being built across brands globally, with a focus on premiumization and improved inventory management [10][29] - The company aims to reduce leverage to below 2.5 times by fiscal 2028 while investing in growth [10][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in turning the company back into a growth entity despite current macroeconomic challenges [6][9] - The anticipated impact of tariffs is expected to negatively affect gross profit by $60 million to $70 million in fiscal 2026, but management believes they can mitigate these impacts [38][39] - The company is optimistic about the upcoming back-to-school season and plans to invest more in marketing [110] Other Important Information - The company has changed its segment reporting to better reflect key areas of focus across brands [43] - The company is pursuing a $1.5 billion asset-backed revolving loan to enhance liquidity and flexibility [42] Q&A Session Summary Question: What were the expectations for the Warp Tour and its impact? - Management expected modest impact initially but saw enormous demand with tickets selling out quickly, indicating strong engagement and merchandise sales [49][52] Question: Can you clarify the $60 million to $70 million gross profit impact from tariffs? - Management confirmed that this impact is mostly in the back half of the year and will be offset through pricing and other actions [57][58] Question: What are the long-term views on gross margin improvement? - Management sees opportunities for gross margin improvement across all brands, particularly through premiumization and better product mix [66][70] Question: How do you expect unit volumes to be affected by price increases? - Management indicated that unit volumes might decrease in line with price increases, but the overall impact is uncertain due to industry-wide effects [78][79] Question: What is the outlook for free cash flow and net debt? - Management expects free cash flow to be up year-over-year despite fluctuations in quarterly performance, and net debt is anticipated to decline [118][120]

Financial Data and Key Metrics Changes - Q1 revenue was $1.8 billion, flat on a reported basis and down 2% year over year in constant dollars, which was better than the guidance of down 3% to down 5% [31][36] - Adjusted gross margin increased by 200 basis points to 54.1%, driven by higher quality inventory and lower discounts [34] - Adjusted loss per share was $0.24 compared to $0.35 in Q1 of the previous year [35] Business Line Data and Key Metrics Changes - Vans revenue decreased by 15%, with 40% of the decline attributed to channel rationalization actions [11][33] - The North Face grew by 5%, with strong performance in footwear and bags, aiming for higher growth in the future [13][32] - Timberland's revenue increased by 9%, reflecting growth across all channels [15][33] Market Data and Key Metrics Changes - APAC region grew by 4%, while the Americas and EMEA regions were down 3% and 2%, respectively [33] - Excluding Vans, the Americas region was up 3% year over year [33] Company Strategy and Development Direction - The company is focused on transforming into a growth-oriented organization, with significant cost reductions and improvements in operational efficiency [7][10] - Plans to enhance product and marketing strategies across brands globally, aiming for a unified approach [8][9] - The company is committed to reducing leverage to below 2.5 times by fiscal 2028 [9][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround strategy, emphasizing the importance of growth and the potential for each brand [10][28] - The anticipated impact of tariffs is expected to negatively affect gross profit by $60 million to $70 million in fiscal 2026, but management believes they can mitigate this through pricing and sourcing actions [39][41] - The company expects operating income to be up year over year in fiscal 2026, despite tariff impacts [41] Other Important Information - The company has made changes to segment reporting to better reflect key areas of focus across brands [44] - The return of the Vans Warp Tour was highlighted as a significant marketing initiative, with strong ticket sales and brand engagement [25][26] Q&A Session Summary Question: What were the expectations for the Vans Warp Tour and its impact? - Management expected modest impact initially but saw enormous demand with sold-out events and significant merchandise sales [50][53] Question: Can you clarify the $60 million to $70 million gross profit impact from tariffs? - The impact is primarily in the back half of the year, and management is working on offsetting this through pricing and other actions [58][59] Question: What are the long-term views on gross margin improvement? - Management sees opportunities for gross margin improvement across all brands, particularly through premiumization strategies [67][70] Question: How will unit volumes be affected by price increases due to tariffs? - Management expects a one-to-one relationship between price increases and unit volume declines, but believes it could be slightly better due to industry-wide impacts [78][80] Question: What is the outlook for free cash flow and net debt? - Management expects free cash flow to be up year over year, with net debt anticipated to decline as they work towards their leverage targets [121][123]

Financial Performance - Group retail sales increased by 10% in H1-25[11, 44, 47, 51] - Net revenues reached €2.74 billion, a 9% increase at constant exchange rates[12, 41, 44, 74] - Miu Miu experienced substantial growth of 49%[12, 47] - Prada sales decreased by 2%[12, 47] - EBIT adjusted margin remained steady at 22.6%, amounting to €619 million[12, 41, 53, 74] - Net income saw a slight increase of 1% to €386 million[53, 74] Strategic Investments - Capital expenditure totaled €247 million[12, 56] - Cash flow from operations was €696 million[41, 63] - The company maintains a solid balance sheet with a net cash position of €352 million[62, 63] Retail and Geographic Performance - Retail channel contributed 90% of net revenues[44] - Asia Pacific retail sales increased by 10%[51] - Europe retail sales increased by 9%[51] - Americas retail sales increased by 12%[51]

Financial Performance - Revenue was $1.8 billion, flat compared to last year, or down 2% in constant dollars[15] - Net debt decreased by $1.4 billion, a 20% reduction compared to last year[16] - Excluding lease liabilities, net debt decreased by $1.4 billion, a 27% reduction compared to last year[16] - Adjusted operating loss significantly beat guidance[15] - Loss per share (EPS) was ($0.30), with an adjusted EPS of ($0.24)[15] Brand Performance - The North Face revenue increased by 6%, or 5% in constant dollars[25] - Vans revenue decreased by 14%, or 15% in constant dollars, impacted by channel rationalization actions[25] - Timberland revenue increased by 11%, or 9% in constant dollars[25] - Other Brands revenue increased by 4%, or 2% in constant dollars, with Altra growing over 20%[25, 41] Outlook - Q2'26 revenue is expected to decrease by 4% to 2% in constant dollars[18] - Q2'26 adjusted operating income is projected to be between $260 million and $290 million[18]

H1 2025 Financial Performance - Group revenues reached €928 million, a decrease of 3% year-on-year (YoY) and 2% on an organic basis[27] - Q2 revenues amounted to €469 million, reflecting a 6% YoY decrease and a 3% organic decline[27] - ZEGNA brand revenues, constituting 61% of H1 Group revenues, increased by 2% organically, driven by the DTC channel[33] - Thom Browne brand revenues, accounting for 14% of H1 Group revenues, experienced a 24% organic decrease due to wholesale channel streamlining[33] - TOM FORD FASHION brand revenues, representing 16% of H1 Group revenues, grew by 4% organically, propelled by the DTC channel[33] Segment Performance - Zegna segment showed positive performance, boosted by the ZEGNA brand, while the textile division contracted[28] - Thom Browne segment's revenue was impacted by the strategic decision to streamline the wholesale business[28] - Tom Ford Fashion (TFF) segment's revenues were driven by strong double-digit organic growth in the DTC channel[28] Channel Performance - DTC revenues reached €353 million, showing an 8% organic increase, with growth accelerating across all three brands, particularly ZEGNA[42] - Wholesale branded revenues decreased by 33% organically, reflecting a strategic focus on the DTC channel for each brand, especially Thom Browne[42] Geographic Performance - EMEA revenues declined by 2% organically, influenced by wholesale performance in the region[38] - Americas revenues demonstrated strong organic growth of 10%, driven by solid DTC channel results, particularly for ZEGNA and Thom Browne[38] - Greater China Region (GRC) revenues decreased by 17% organically, due to the wholesale channel[38]

Core Insights - Steven Madden, Ltd. reported challenging financial results for Q2 2025, primarily due to new tariffs impacting imported goods [3][4][11] - The company is focused on long-term growth through strategic consumer engagement and the integration of Kurt Geiger, which is expected to drive future growth [3][4] Financial Performance - Total revenue for Q2 2025 increased by 6.8% to $559.0 million compared to $523.6 million in Q2 2024 [8] - Gross profit as a percentage of revenue decreased to 40.4% from 41.5% in the same period last year [8] - The company reported a net loss of $39.5 million, or $0.56 per diluted share, compared to a net income of $35.4 million, or $0.49 per diluted share, in Q2 2024 [8][27] Revenue Breakdown - Wholesale revenue was $360.6 million, a decrease of 6.4% year-over-year, with a 12.8% decline when excluding Kurt Geiger [4] - Direct-to-consumer revenue rose by 43.3% to $195.5 million, although it decreased by 3.0% when excluding Kurt Geiger [5] Operational Metrics - The company ended the quarter with 392 retail stores, including 98 outlets, and seven e-commerce websites [6] - Operating expenses as a percentage of revenue increased to 47.2% from 31.3% in Q2 2024 [8] Balance Sheet and Cash Flow - As of June 30, 2025, total debt was $293.5 million, with cash and short-term investments totaling $111.9 million, resulting in net debt of $181.6 million [9] - The company did not repurchase any shares during the quarter [9] Dividend Announcement - The Board of Directors approved a quarterly cash dividend of $0.21 per share, payable on September 23, 2025 [10] Future Outlook - Due to ongoing macroeconomic uncertainties related to tariffs, the company is not providing financial guidance for 2025 [11]

VF Corp. shares soared after the the apparel and shoe company reported fiscal first-quarter earnings that beat Wall Street expectations https://t.co/mq6H5Qdzfo ...