Core Insights - V.F. Corporation (VFC) reported a narrower-than-expected loss per share in Q1 fiscal 2026, with a sales beat and improved earnings year over year despite a dip in revenues [1][3][9] - The company is progressing with its Reinvent program, aiming for cost savings and improved operating profitability [1][13] Revenue Performance - VFC's net revenues for Q1 fiscal 2026 were $1.76 billion, surpassing the consensus estimate of $1.69 billion, with a year-over-year decline of approximately 2% in constant currency [3][4] - The North Face and Timberland brands continued to perform well, while Altra showed strong growth; however, Vans faced challenges due to channel rationalization [2][14] Segment Analysis - Revenues in the Outdoor segment increased by 8% year over year to $812.5 million, while the Active segment saw a decline of 10% to $699.7 million [7] - The All-Other segment reported a revenue increase of 4% year over year to $248.5 million [7] Financial Position - VFC ended Q1 with cash and cash equivalents of $642.4 million and long-term debt of $3.56 billion, with net debt down $1.4 billion from the previous year [8] - The company declared a quarterly dividend of 9 cents per share, payable on September 18, 2025 [8] Future Outlook - For Q2 fiscal 2026, VFC expects revenues to decline by 2% to 4% in constant currency, with adjusted operating income projected between $260 million and $290 million [12] - For the full fiscal 2026, VFC anticipates growth in adjusted operating income and cash flow, driven by strong performance from The North Face, Timberland, and Altra [13][14]

V.F. Corporation (VFC) Q1 2026 Earnings Call July 30, 2025 08:00 AM ET Company ParticipantsAllegra Perry - VP - IRBracken Darrell - President & CEOPaul Vogel - Chief Financial OfficerJay Sole - Managing DirectorMichael Binetti - Senior Managing DirectorPeter McGoldrick - Vice PresidentBrooke Roach - VP - Equity ResearchConference Call ParticipantsAdrienne Yih - MD & Consumer Discretionary AnalystLorraine Hutchinson - AnalystTracy Kogan - AnalystLaurent Vasilescu - MD & Senior Equity AnalystMatt Boss - Equit ...