VF Corporation Beats Q1 Fiscal 2027 Expectations, Raises Full-Year Revenue Outlook
05/August/2026
VF Corporation (NYSE: VFC), the global apparel and footwear giant behind iconic brands like The North Face, Vans, and Timberland, delivered first-quarter fiscal 2027 financial results that surpassed internal guidance, prompted a guidance hike, and coincided with a major leadership appointment.
Following a strong start to the fiscal year ended June 27, 2026, VF Corp raised its full-year constant currency revenue growth target to +2% or better (up from its prior estimate of +1% to +2%).
Key Financial Highlights (Q1 Fiscal 2027)
Revenue Performance: Reported revenue decreased 5% year-over-year, primarily reflecting the divestiture of the Dickies® brand completed in late 2025. Excluding Dickies, revenue rose +1% (+0% in constant currency), beating guidance expectations of a low-single-digit decline.
Direct-to-Consumer Growth: Global DTC sales grew +2% (+5% constant currency excluding Dickies), led by strong momentum in the Americas region.
Operating Performance: Adjusted operating loss excluding Dickies came in at ($95 million), outperforming the company's guidance of ($100 million). Gross margin expanded 100 basis points to 54.9%.
Balance Sheet Strength: Net debt was slashed by $1.1 billion—a 20% reduction year-over-year—strengthening the company’s capital structure.
Dividend: VF Corp’s Board of Directors authorized a quarterly dividend of $0.09 per share, payable on September 17, 2026.
Brand Performance & Outlook
Performance across VF Corp’s core brand portfolio remained mixed but showed underlying strength in key categories:
Brand | Revenue Performance | Key Drivers |
The North Face® | +6% (+4% C$) | Driven by strong demand in the Americas and Direct-to-Consumer channels. |
Timberland® | +4% (+3% C$) | Led by solid growth in the Americas market. |
Altra® | Growth reported | Continued momentum in performance running gear. |
Vans® | -8% (-9% C$) | Americas DTC channel expanded, but was offset by global wholesale declines. Wholesale recovery is projected for H2. |
“We had a solid start to the year, beating our revenue and operating income guidance,” said Bracken Darrell, President and CEO of VF Corporation. “The North Face, Timberland, and Altra delivered another quarter of growth... Given our overall Q1 performance and better visibility into the balance of the year, we are raising our FY'27 revenue guidance.”
C-Suite Leadership Transition
Alongside its earnings release, VF Corporation announced that Abhishek Dalmia has been appointed to the expanded dual role of Chief Financial Officer and Chief Operating Officer. Dalmia succeeds outgoing CFO Paul, stepping in to drive operational efficiency and financial strategy as VF executes its broader transformation program.
