VF Corporation $VFC raised its full-year revenue guidance on Wednesday after first-quarter results came in ahead of the company's own targets, though VF stock fell in premarket trading.
The North Face and Timberland parent now expects full-year revenue to grow at least 2% in constant currency, up from a 1%-2% target
VF Corporation $VFC raised its full-year revenue guidance on Wednesday after first-quarter results came in ahead of the company's own targets, though VF stock fell in premarket trading.
The apparel company, parent to The North Face, Vans, and Timberland, now anticipates full-year revenue will increase at least 2% on a constant-currency basis versus the year prior. That is an increase from its previous guidance of 1% to 2% growth, the company said.
Revenue for the quarter ended June 27 fell 5% to $1.67 billion. Excluding the Dickies brand, which VF sold in November 2025, and stripping out currency fluctuations, revenue rose 1% — ahead of the company's own guidance for a low-single-digit percentage decline. Analyst expectations called for a revenue decline of 6.8%, according to WWD.
VF posted a net loss of $97.2 million, or $0.25 per share, compared with a $116.4 million loss, or $0.30 per share, in the year-ago quarter. Stripping out one-time items, the adjusted loss came to $0.27 per share, short of the $0.22 adjusted loss analysts had anticipated, according to The Wall Street Journal.
VF stock fell more than 6% in premarket trading on Wednesday.
The Vans brand remained a drag, with revenue declining 8% in the quarter; gains in the Americas direct-to-consumer business could not compensate for steeper losses across global wholesale. The North Face posted 6% revenue growth, and Timberland grew 4%.
"We had a solid start to the year, beating our revenue and operating income guidance," President and Chief Executive Officer Bracken Darrell said in a statement. "We expect Vans Wholesale to improve significantly in the second half of the year."
VF also announced a leadership change on Wednesday, saying Abhishek Dalmia, currently executive vice president and chief operating officer, will take on the additional role of chief financial officer effective August 1, 2026. He will succeed Paul Vogel, who joined the company in July 2024 and is moving into an advisory role during the handover period, the company said. VF said Vogel's departure is not the result of any dispute or disagreement.
The company also declared a quarterly dividend of $0.09 per share, payable September 17, 2026, to shareholders of record as of September 10, 2026.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.