VF Corp Q2 Earnings Show Strong Profit Growth but Vans Remains a Drag

VF Corp reported that net income rose 50.3 % to $285.3 million, or $0.71 per diluted share, compared with the same quarter a year earlier. Revenue slipped 3.8 % to $2.7 billion, missing the $2.67 billion Wall Street forecast but beating the earnings-per-share estimate by $0.17. The company reaffirmed its fiscal-year-2027 guidance of at least 2 % revenue growth. By region, the Americas fell 2 % to $1.32 billion, Europe, Middle East and Africa (EMEA) declined 6 % to $1.01 billion, and APAC dropped 7 % to $361 million. Wholesale revenue, including royalties, fell 6 % to $1.78 billion, while direct-to-consumer (DTC) sales inched up 1 % to $915 million.

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The North Face generated $1.21 billion, up 4 %, and Timberland posted $525.9 million, also up 4 %. Vans revenue fell nearly 10 % to about $548 million, marking a second consecutive quarter of decline. “Other Brands” dropped 22 % to $414.3 million, a decline driven in part by the sale of the Dickies workwear brand, which was completed later in 2025; excluding Dickies, “Other Brands” revenue rose 6 % to over $414 million. Altra’s active-footwear line grew more than 40 %, contributing to overall revenue growth of 1 % year-on-year. Gross margin expanded 290 basis points to 55.4 % (excluding Dickies), helped by lower product costs and favorable currency effects. Net debt fell over $1 billion, a 20 % reduction from the prior year.

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CEO Bracken Darrell said the company is “delivering sustainable and profitable growth” and that the plan to revive Vans is showing early signs, with global DTC sales improving for the first time in almost five years and wholesale orders picking up for the next two quarters. He highlighted new style launches and opportunities in apparel and women’s footwear. Needham analyst Tom Nikic described the Vans turnaround as “excruciatingly long” and “glacial,” but expressed optimism that the brand’s momentum will eventually offset its decline.

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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, CEO

WWD

• “Our plan to reignite Vans is working — global [direct-to-consumer] 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.” — Bracken Darrell, CEO

WWD

• “We are super, super excited about Vans. I think we're really on a roll,” — Bracken Darrell, CEO

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