Jun 2026 (Q1 FY27) — Jul 29, 2026
V.F. Corporation Q1 FY27 — Raised Full-Year Revenue Outlook on Solid Start
Read the full callV F (VFC) earnings
- Mar 2026
- Jun 2026 (Q1 FY27)
- Mar 2026
V F earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,166 | +1.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 2.8 | +6.2 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | -119 | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
37 of 40 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly gross margin guidance (Q1 FY27) | Up year-over-year | Mar 2026 | Adjusted gross margin for the quarter was 54.9%, up slightly over last year | Achieved |
| Medium-term SG&A-to-sales ratio target (≤45%, FY28) | 45% SG&A-to-sales ratio | Jun 2025 | the geography of that 10% is going to be slightly driven more by gross margin versus SG&A leverage down to 45% | Diluted |
| Full-year effective tax rate guidance (FY26) | 33% to 34% | Dec 2025 | tax expense was $25 million, reflecting a full year adjusted rate of 36% | Missed |
3 of V F CORP's 59 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 56 more targets are in the full ledger.
Claimed
- Q1 revenue was flat year-over-year at approximately $1.7 billion, ahead of guidance for low single-digit decline.
- Full-year FY27 revenue outlook raised from 1-2% growth to "2% or better" year-over-year.
- The North Face grew 4% in Q1, stronger than expectations of a flat quarter.
- Timberland revenue was up 3% in Q1, with Americas growing 10%.
- Net debt was down $1.1 billion, a 20% reduction versus last year.
Qualified
- Vans Q1 revenue was down 9% globally year-over-year, with a similar trend expected for Q2.
- Q1 adjusted operating loss was $95 million, and adjusted loss per share was $0.27.
- EMEA revenue was down 7% and APAC revenue was down 1% in Q1.
- Gross margin was impacted by 140 basis points due to unfavorable FX in Q1.
- Timberland's Q1 growth was impacted by the Middle East conflict and distributor work, representing a 3-point impact.
Price
$17.14 +1.72% · +$0.29
Performance +20.0% 1Y
1Y: $14.28 on 17 Oct 2025 → $17.14. High $21.55 (22 Apr 2026), low $12.62 (10 Sept 2026).
- Previous close
- $16.85
- 52-week range
- $12.62 – $21.55
- One year
- +18.78%
Overview
- Symbol
- VFC
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
37 of 40 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly gross margin guidance (Q1 FY27) | Up year-over-year | Mar 2026 | Adjusted gross margin for the quarter was 54.9%, up slightly over last year | Achieved |
| Medium-term SG&A-to-sales ratio target (≤45%, FY28) | 45% SG&A-to-sales ratio | Jun 2025 | the geography of that 10% is going to be slightly driven more by gross margin versus SG&A leverage down to 45% | Diluted |
| Full-year effective tax rate guidance (FY26) | 33% to 34% | Dec 2025 | tax expense was $25 million, reflecting a full year adjusted rate of 36% | Missed |
Claimed
- Q1 revenue was flat year-over-year at approximately $1.7 billion, ahead of guidance for low single-digit decline.
- Full-year FY27 revenue outlook raised from 1-2% growth to "2% or better" year-over-year.
- The North Face grew 4% in Q1, stronger than expectations of a flat quarter.
- Timberland revenue was up 3% in Q1, with Americas growing 10%.
- Net debt was down $1.1 billion, a 20% reduction versus last year.
Qualified
- Vans Q1 revenue was down 9% globally year-over-year, with a similar trend expected for Q2.
- Q1 adjusted operating loss was $95 million, and adjusted loss per share was $0.27.
- EMEA revenue was down 7% and APAC revenue was down 1% in Q1.
- Gross margin was impacted by 140 basis points due to unfavorable FX in Q1.
- Timberland's Q1 growth was impacted by the Middle East conflict and distributor work, representing a 3-point impact.
The full ledger
Open V F CORP’s full ledger
A free account opens 5 company ledgers a month. All 59 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q4 FY26) — May 20, 2026
V.F. Corporation Q4 FY26 — Strong Q4 Performance and Reinstated FY27 Guidance
Read the full callEvery analysed call
V F earnings calls (VFC)
Financials
What the filings say
Net profit, year on year: +21% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,769 | 2,758 | 2,834 | 2,144 | 1,761 | 2,803 | 2,876 | 2,166 |
| Expenses | 1,892 | 2,484 | 2,608 | 2,217 | 1,847 | 2,490 | 2,587 | 2,105 |
| Operating profit | -123 | 274 | 226 | -73 | -87 | 313 | 289 | 62 |
| Operating margin | −7.0% | 9.9% | 8.0% | −3.4% | −4.9% | 11.2% | 10.1% | 2.8% |
| Interest | 44 | 46 | 43 | 40 | 44 | 50 | 40 | 34 |
| Profit before tax | -165 | 231 | 197 | -117 | -127 | 268 | 363 | -163 |
| Tax rate | 8.1% | 12.2% | 14.0% | −28.9% | 8.1% | 29.3% | 17.1% | 27.0% |
| Net profit | -259 | 52 | 168 | -151 | -116 | 190 | 301 | -119 |
| EPS ($ per share) | -0.67 | 0.13 | 0.43 | — | -0.30 | 0.49 | 0.77 | — |
| Line item | Mar 2019 | Mar 2020 | Apr 2021 | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 99 | 97 | 98 | 97 | 97 | 97 | 97 | 98 |
| Reserves | 1,180 | 7 | 190 | 443 | 57 | -975 | -1,173 | -929 |
| Total liabilities | 6,058 | 7,776 | 10,698 | 9,812 | 11,080 | 9,955 | 7,890 | 7,440 |
| Fixed assets | 876 | 954 | 976 | 1,042 | 911 | 789 | 721 | 675 |
| Investments | — | 0 | 599 | 0 | — | — | — | — |
| Total assets | 10,357 | 11,133 | 13,754 | 13,342 | 13,990 | 11,613 | 9,378 | 9,290 |
| Line item | Mar 2019 | Mar 2020 | Apr 2021 | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,664 | 875 | 1,313 | 864 | -656 | 1,015 | 465 | 671 |
| Cash from investing | -221 | -302 | -2,896 | 904 | -188 | -172 | 1,428 | 407 |
| Cash from financing | -1,591 | 310 | 1,053 | -1,269 | 464 | -960 | -2,146 | -738 |
| Net cash flow | -133 | 855 | -560 | 426 | -461 | -139 | -245 | 401 |
| Capital expenditure | -216 | -288 | -199 | -245 | -152 | -136 | -86 | -115 |
| Free cash flow | 1,448 | 586 | 1,115 | 619 | -808 | 879 | 379 | 557 |
VFC revenue by segment
Active shrank from 32% to 25% of revenue over the last two years.
| Segment | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Outdoor | 60% | 65% | 64% | 46% | 59% | 67% | 62% | 51% | +5.5% |
| Active | 32% | 27% | 25% | 40% | 27% | 23% | 27% | 40% | -4.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q1 FY2027 · share of revenue
- Americas 54% ↑ 4 pt
- Europe 31% ↓ 6 pt
- Asia Pacific 16% ↑ 2 pt
As VFC cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
31 filings between Oct 31, 2025 and Aug 13, 2026.
Open market
decisions to buy or sellPurchases
$1.30M
3 purchases by 2 insiders
Sales
$142.2K
1 sale by 1 insider
Compensation
not trading decisions- 17
- Award — granted as compensation
- 10
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Carucci Richard | $809.6K | — | Aug 13, 2026 |
| Darrell Bracken | $492.8K | — | Jul 31, 2026 |
| CHUGG JULIANA L | — | $142.2K | Feb 10, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 13, 2026 | Carucci Richard Director | Purchase | 20,000 | $294.6K |
| Jul 31, 2026 | Darrell Bracken President & Chief Exec Officer | Purchase | 32,894 | $492.8K |
| Jun 9, 2026 | Carucci Richard Director | Purchase | 30,000 | $515.0K |
| Jun 4, 2026 | Dalmia Abhishek EVP, Chief Operating Officer | Tax withheld | 11,351 | $186.3K |
| Jun 4, 2026 | Hyder Brent EVP, Chief Commercial Officer | Tax withheld | 20,405 | $334.8K |
| Jun 4, 2026 | Sim Jennifer S. EVP, CLO and Corp Secretary | Tax withheld | 4,091 | $67.1K |
| Jun 4, 2026 | Phillips Michael Edward VP, Chief Accounting Officer | Tax withheld | 1,613 | $26.5K |
| Jun 4, 2026 | Vogel Paul Aaron Exec. Vice President and CFO | Tax withheld | 10,246 | $168.1K |
| Jun 4, 2026 | Darrell Bracken President & Chief Exec Officer | Tax withheld | 36,446 | $598.1K |
| May 28, 2026 | Phillips Michael Edward VP, Chief Accounting Officer | Tax withheld | 941 | $16.4K |
| May 28, 2026 | Dalmia Abhishek EVP, Chief Operating Officer | Tax withheld | 36,750 | $639.8K |
| May 22, 2026 | Sim Jennifer S. EVP, CLO and Corp Secretary | Award | 71,857 | $1.20M |
| May 22, 2026 | Phillips Michael Edward VP, Chief Accounting Officer | Tax withheld | 323 | $5.3K |
| May 22, 2026 | Phillips Michael Edward VP, Chief Accounting Officer | Award | 20,959 | $350.0K |
| May 22, 2026 | GROSSMAN MINDY F Director | Award | 11,977 | $200.0K |
| May 22, 2026 | Vogel Paul Aaron Exec. Vice President and CFO | Award | 107,785 | $1.80M |
| May 22, 2026 | Carucci Richard Director | Award | 11,977 | $200.0K |
| May 22, 2026 | EDWARDS TREVOR A Director | Award | 11,977 | $200.0K |
| May 22, 2026 | HOPLAMAZIAN MARK SAMUEL Director | Award | 11,977 | $200.0K |
| May 22, 2026 | Lang Laura W Director | Award | 11,977 | $200.0K |
| May 22, 2026 | Shattock Matthew J Director | Award | 11,977 | $200.0K |
| May 22, 2026 | OTIS CLARENCE JR Director | Award | 11,977 | $200.0K |
| May 22, 2026 | Roberts Carol L Director | Award | 11,977 | $200.0K |
| May 22, 2026 | CHO ALEX Director | Award | 11,977 | $200.0K |
| May 22, 2026 | CHUGG JULIANA L Director | Award | 11,977 | $200.0K |
| May 22, 2026 | Tanner Kirk Director | Award | 11,977 | $200.0K |
| May 22, 2026 | Darrell Bracken President & Chief Exec Officer | Award | 395,210 | $6.60M |
| May 22, 2026 | Dalmia Abhishek EVP, Chief Operating Officer | Award | 161,677 | $2.70M |
| May 22, 2026 | Hyder Brent EVP, Chief Commercial Officer | Award | 143,713 | $2.40M |
| Feb 10, 2026 | CHUGG JULIANA L Director | Sale | 6,678 | $142.2K |
| Oct 31, 2025 | Scabbia Guerrini Martino EVP, Chief Commercial Officer | Tax withheld | 68,139 | $945.1K |
| Aug 1, 2025 | Sim Jennifer S. EVP, CLO and Corp Secretary | Tax withheld | 1,174 | $13.4K |
| Jul 17, 2025 | Darrell Bracken President & Chief Exec Officer | Tax withheld | 17,987 | $217.1K |
| Jun 4, 2025 | Carucci Richard Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | EDWARDS TREVOR A Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | HOPLAMAZIAN MARK SAMUEL Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | Lang Laura W Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | Shattock Matthew J Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | CHO ALEX Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | CHUGG JULIANA L Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | GROSSMAN MINDY F Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | OTIS CLARENCE JR Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | Roberts Carol L Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | Tanner Kirk Director | Award | 13,285 | $166.7K |
| Jun 4, 2025 | Darrell Bracken President & Chief Exec Officer | Award | 710,334 | $8.91M |
| Jun 4, 2025 | Vogel Paul Aaron Exec. Vice President and CFO | Award | 193,729 | $2.43M |
| Jun 4, 2025 | Dalmia Abhishek EVP, Chief Operating Officer | Award | 193,729 | $2.43M |
| Jun 4, 2025 | Hyder Brent EVP, Chief People Officer | Award | 387,456 | $4.86M |
| Jun 4, 2025 | Sim Jennifer S. EVP, GC & Secretary | Award | 96,865 | $1.22M |
| Jun 4, 2025 | Scabbia Guerrini Martino EVP, Chief Commercial Officer | Award | 258,304 | $3.24M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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