Fashion
VF Corp revenue totals $2.8 billion in Q2 FY26, net debt drops 21%
Published
October 28, 2025
VF Corporation’s revenue reached $2.8 billion in the second quarter of the 2026 financial year, rising 2% year on year. The Vans, Timberland, The North Face, and Dickies owner also reduced its net debt by 21% compared to the same period last year, it announced on October 28.
Vans reported a 9% loss in the second quarter, down from 11% a year prior. Timberland and The North Face reported 7% and 6% growth respectively. The results exceeded prior guidance and reflect better-than-expected back-to-school results and early wholesale demand, according to VF Corp.
“In Q2 we made further progress on our turnaround plan,” said the business’ president and CEO Bracken Darrell in a release posted on VF Corp’s website. “We delivered broad-based growth for The North Face® and Timberland®, while continuing to moderate declines in Vans®. We also announced the pending sale of Dickies® for $600 million, enhancing our capacity to invest in the portfolio and drive shareholder returns. Looking ahead, we will continue to focus on generating value across our brands and returning the company to sustainable and profitable growth.”
VF Corp’s adjusted operating income totalled $330 million and its operating income was at $313 million in the second quarter. The business reported an operating margin of 11.2%, up by +130 bps compared to the second quarter of the 2025 fiscal year, with a gross margin of 52.2%.
VF Corp expects to report adjusted operating income of over $275 million in the third quarter of the 2026 financial year. The business foresees both its adjusted operating income and its operating cash flow increasing year on year for the whole 2026 fiscal year.
Along with announcing its results for the quarter ending September 27, the business’ Board of Directors authorised a quarterly per share dividend of $0.09, payable on December 18, 2025, to shareholders of record at the close of business on December 10, 2025. VF Corp’s shares were up about 4% in premarket trading, Reuters reported. Based in Denver, Colorado, the business’ results come in contrast to a backdrop of increasing US retail pressure, fuelled by US-imposed global tariffs.
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While trends in high frequency indicators for January-February 2026 appear favourable, the heightened uncertainty around the duration of the Middle East conflict casts a shadow on the near-term macroeconomic outlook for India amid high import dependency for items like crude oil, natural gas and fertilisers, it noted.
India’s FY27 GDP growth is likely to slow to 6.5 per cent from the projected 7.5 per cent in FY26 owing to the impact of higher energy prices and concerns around energy availability, ICRA Ratings said.
The heightened uncertainty around the duration of the Iran war casts a shadow on the near-term macroeconomic outlook for India.
If the conflict lasts longer, the adverse effects could widen across sectors.
If the conflict lasts for an extended period, the adverse implications of the same could widen across sectors, amid an uptick in input costs and the consequent impact on profitability of the India corporate sector.
Amid the projected uptrend in the consumer price index-based inflation in FY27 with risks tilted to the upside, ICRA Ratings expects an extended pause on the policy rates by the central bank’s monetary policy committee in the fiscal despite the anticipated softening in the GDP growth. However, it expects the Reserve Bank of India to continue to intervene on the liquidity front during FY27.
The available data for January–February FY2026 indicate a positive trend across most non-agricultural indicators, with the year-on-year performance of 12 out of 18 indicators improving compared to the third quarter of FY26, while the remaining six deteriorated.
Fibre2Fashion News Desk (DS)
Indonesia’s apparel exports rose modestly to $8.705 billion in 2025 from $8.316 billion in 2024, reflecting gradual recovery.
The US remained dominant, accounting for over 56 per cent of shipments, highlighting growing market dependence.
While Japan, South Korea and Europe offered stability, exports stayed concentrated in key products and segments.
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Methanol prices in India have surged nearly 150 per cent from pre-Iran–US tension levels, tracking a sharp rise in crude oil and tightening global energy markets.
Hormuz disruption risks, limited rerouting capacity, rising freight and insurance costs, and constrained imports are fuelling volatility, with prices seen approaching ₹90 per kg.
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