V.F. Corp narrows Q1 loss to $0.30 a share as revenue holds flat at $1.8 billion
V.F. Corporation reported first-quarter fiscal 2026 revenue of $1.76 billion, flat versus last year and down 2% in constant currency, with a net loss of $116.4 million, or $0.30 per share, compared with $0.39 per share in continuing operations a year earlier. The adjusted operating loss of $56 million beat the company's guidance of $110 million to $125 million, and the company set second-quarter revenue guidance of down 4% to down 2% in constant currency. The company also declared a $0.09 quarterly dividend and realigned its reportable segments into Outdoor and Active.
Key points
- Q1 revenue was $1.76 billion, flat versus last year (down 2% in constant currency); Vans fell 14%, while The North Face rose 6% and Timberland rose 11%.
- Net loss was $116.4 million, or $0.30 per share, versus a loss of $0.39 per share from continuing operations a year earlier; adjusted operating loss was $56 million versus guidance of $110 million to $125 million.
- Q2 fiscal 2026 guidance calls for revenue down 4% to down 2% in constant currency and adjusted operating income of $260 million to $290 million.
- Net debt fell $1.4 billion, or 20%, to $5.3 billion versus last year; the quarterly dividend of $0.09 per share is payable September 18, 2025, to holders of record on September 10, 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 30, 2025.
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