VF revenue falls 5% as outlook rises

• VF Corporation (NYSE:VFC) reported Q1 FY2027 revenue of $1.7 billion, down 5% year over year, while raising its full-year revenue outlook.
• The company reported an operating loss of $83 million, while net debt declined by $1.1 billion from the prior year.
• VF expects FY2027 constant-currency revenue growth of 2% or better and adjusted operating margin of about 8%.

VF Corporation (NYSE:VFC) reported Q1 FY2027 revenue of $1.7 billion, down 5% year over year, while raising its full-year revenue outlook after results exceeded expectations.

Revenue excluding Dickies increased 1% year over year, or was flat in constant currency, ahead of the company’s previous guidance for a low-single-digit decline.

“We delivered a solid start to fiscal 2027, with performance ahead of our expectations and continued progress across our strategic priorities,” said VF Corporation President and Chief Executive Officer Bracken Darrell.

The company reported an operating loss of $83 million and an operating margin of negative 5.0%, while adjusted operating loss excluding Dickies was $95 million, slightly ahead of its $100 million guidance.

Following the announcement, VF Corporation's share price was unchanged at $13.20.

VF reported gross margin of 54.9%, up 100 basis points year over year, while net debt declined by $1.1 billion, or 20%, compared with the prior year.

Looking ahead, VF raised its FY2027 outlook to constant-currency revenue growth of 2% or better, adjusted operating margin of approximately 8%, and free cash flow of flat to above the prior-year level of $405 million.