“We made strong progress in Q3'25, improving profitability and further strengthening the balance sheet. The pace of VF’s transformation is on track as we deliver against our Reinvent priorities”, said Bracken Darrell, President and CEO. “Although there is work to do to consistently deliver double-digit operating margins and sustainable top-line growth, we are making great strides in transforming VF into a truly differentiated, multi-brand operator”.

Third Quarter Results

In the third quarter of fiscal 2025, which ended on the 28^th of December, VF Corp’s revenue amounted to 2.83 billion US dollars, up by 2% on both a reported and constant currency basis as compared to the same period of the previous fiscal year. This represents a return to positive territory after four negative quarters.

During this period, the revenue of The North Face brand increased by 5% on both a reported and constant currency basis, Timberland’s revenue increased by 11% or 12% on a constant currency basis and the revenue of Other Brands increased by 4% or 5% on a constant currency basis, on a comparable basis to the third quarter of fiscal 2024.  

On the contrary, Dickies’ third quarter revenue decreased by 10% year-on-year on both a reported and constant currency basis and Vans’ revenue decreased by 9% or 8% on a constant currency basis, respectively. However, these figures reflect a sequential quarter-on-quarter improvement for Vans, as last year’s reset actions have resulted in a cleaner marketplace.

In the third quarter of the current year, progress was also made in the US, mainly due to better operational execution through improved inventory efficiency and commercial intensity. As a result, the Americas region reported revenue growth of 1%, or 2% on a constant currency basis, as compared to the third quarter of fiscal 2024 and versus a decline of 10% and 9%, respectively, in the previous quarter. In the EMEA and the APAC regions, revenue grew by 1% and 5% year-on-year respectively, on both a reported and a constant currency basis.

In the three months ended on the 28^th of December, the company’s operating income was 225.7 million US dollars, as compared to an operating loss of 91.2 billion US dollars, and net income was 167.8 billion US dollars, as compared to a net loss of 42.5 billion US dollars in the same quarter of the previous year.

VF Corp highlighted that it continues to strengthen its balance sheet, reducing its net debt by 1.9 billion US dollars in the third quarter of fiscal 2024 to 4.67 billion US dollars this quarter.

However, for the fourth quarter, the company expects its revenue to decline year-on-year in the range of 4% to 5% or in the range of 2% to 4% on a constant currency basis.