Overview
- Revenue rose to $2.80 billion versus $2.74 billion expected, with adjusted earnings of 52 cents a share topping the 43-cent consensus.
- Brand results diverged as The North Face grew about 6% and Timberland about 7%, while Vans fell roughly 9% with declines moderating from the prior quarter.
- Management forecast third‑quarter revenue down 1% to 3% excluding Dickies and projected adjusted operating income of $275 million to $305 million, citing tariff pressure estimated at $60 million to $70 million in the second half.
- Investors sold the stock on the outlook, with shares down more than 10% by late afternoon.
- Operating income improved to $313 million ($330 million adjusted) and net debt fell by about $1.5 billion, as VF moved to sell Dickies to Bluestar Alliance for $600 million to reduce leverage.