Following today’s release of VF Corp’s figures for the three months ending 31 December 2025; Chloe Tedford-Jones, apparel analyst at GlobalData, a leading data and analytics company, offers her view: “VF Corp delivered a modest recovery in Q3 FY2025/26, report revenue growth of 1.4% to reach $2.9bn, alongside a gross margin expansion to 56.6%, a 0.3ppts improvement on last year, and continued balance sheet improvement. Following the divestment of Dickies to Bluestar Alliance in November 2025, revenue on an adjusted basis excluding Dickies showed stronger growth of 4.4%, reflecting progress in the company’s turnaround initiatives. Q3’s performance brought VF Corp’s performance for the nine months to December to growth of 1.1% (and 2.5% excluding Dickies) which led management to reiterate guidance for flat to modest revenue growth in Q4. The company expects a continued progression toward medium-term financial targets, which suggests VF Corp is stabilising sales trends and beginning to capture efficiency gains from its transformation plan.
“Vans’ continued to weigh on overall group performance, as the brand declined 8.2%, reflecting a minimal improvement on the previous quarter’s results, where sales fell 9.1%. While the group highlighted improved engagement with newer silhouettes and franchises, the brand remains constrained by a narrow product offering still and intense competition within the casual footwear and streetwear space. The North Face continued to be the group’s bright spot, with revenue rising 8.2%, supported by strong demand for technical outerwear and lifestyle products. The brand has benefited from consistent innovation and clear positioning at the intersection of performance and fashion, allowing it to capture both core outdoor consumers and more fashion-conscious consumers. Timberland also delivered solid growth of 8.1%, underpinned by sustained demand for its core footwear styles and improved brand storytelling, which has helped it capitalise on the ongoing appeal of heritage-inspired styles.
“Continued improvements were seen regionally, as the Americas region delivered its strongest performance in over three years with 2.1% revenue growth in Q3, although year-to-date performance remained at a decline of 0.5%. Q3 performance in the region benefited from an improved stock management and a more disciplined promotional approach. EMEA outperformed, with sales increasing 3.9%, although currency volatility led to a decline of 4% in constant currency, despite improving consumer sentiment. APAC saw the worst performance regionally, with a decline of 5.7%, however this was likely due to tougher comparatives rather than a deterioration in demand. DTC sales returned to growth, rising3.9%, supported by an improved digital performance, reflecting the group’s broader efforts to rebalance its channel mix towards brand-controlled, higher-margin platforms. Wholesale remained in decline, falling 1.5% in Q3, as demand remained cautious and skewed towards core products.”
