New York, May 20, 2026, 08:06 EDT
- VF posted full-year revenue growth for the first time in three years.
- Fourth-quarter revenue came in ahead of Wall Street estimates, but adjusted earnings were flat.
- The company brought back its annual guidance for fiscal 2027 and left its quarterly payout steady at 9 cents a share.
VF Corp shares jumped in premarket trading Wednesday after the owner of The North Face, Vans and Timberland beat quarterly sales forecasts and guided for more revenue growth this year. The Wall Street Journal said investors may be giving CEO Bracken Darrell’s turnaround plan more runway, noting the stock was up 8.2% to $18.11 before the open.
Timing is important. VF has worked to turn around Vans, reduce debt and show growth at The North Face and Timberland can cover weaker parts of its portfolio. The company said fiscal 2026 was its first year of revenue growth in three years.
Fourth-quarter revenue hit $2.17 billion, up from $2.14 billion last year and topping the $2.13 billion expected by Wall Street. Adjusted earnings came in flat, while analysts polled by WSJ were looking for a 1-cent loss.
VF said full-year revenue rose to $9.61 billion, up 1% for the period ended March 28. Revenue increased 4% if Dickies is excluded, the company said. Dickies was sold during the year. On a constant-currency basis, revenue was up 1%, with the company backing out currency moves to show its business minus foreign-exchange shifts.
Margins improved. VF said gross margin for the full year was up 130 basis points to 54.8%. A basis point equals one-hundredth of a percentage point. Adjusted operating income, excluding Dickies, came in at $650 million. The company also cut its leverage ratio to 3.1 times, down from 4.1 times last year.
Brand results came in mixed, though VF did better than recent quarters. The North Face posted a 12% revenue gain for the quarter, Timberland was up 8%, but Vans dropped 1%. VF said Vans is growing again in Americas direct-to-consumer, meaning its own stores and sites, not wholesalers.
Darrell called the fourth quarter VF’s “strongest revenue performance since I joined VF,” saying Vans was “starting to show momentum.” But investors are likely to focus on Vans, since it is still the key swing factor for the company. VF Corporation
VF gave guidance for fiscal 2027, calling for revenue to rise 1% to 2% in constant currency. The company is looking for an adjusted operating margin of around 8%, and free cash flow at or above the $405 million reported for fiscal 2026. Adjusted results leave out items like restructuring, deal-related expenses, and pension charges, and are not U.S. GAAP.
VF Corporation filed an 8-K with the SEC and said its board set a quarterly dividend at 9 cents per share. The payout is set for June 18, with a record date of June 10.
Nike shares gained Monday after dropping for six sessions. VF and Levi Strauss traded mixed Tuesday, as apparel stocks moved unevenly during a broader market selloff. That puts focus on VF’s guidance, giving investors a clearer view of the company itself instead of another consumer discretionary stock move.
But there’s no guarantee the recovery will last. VF pointed out risks around demand, tariffs, geopolitics, raw materials, changing fashion, pressure on margins, and hitting its turnaround goals. Gains at Vans in the Americas could stall or slip, and tariffs or softer discretionary spending could hurt margins. That would make Wednesday’s premarket rally look light.
Management planned a call to go over the results at 8 a.m. ET. Investors in the regular session want to see if VF has turned from a cost-cutting play into a growth story, or if the company just bought time for another quarter.
