The US clothing group VF Corporation was able to exceed its own expectations in the first quarter of the 2025/26 financial year. The parent company of brands such as The North Face, Vans and Timberland reported on Wednesday that it was able to stabilize sales and significantly reduce its loss.
In the opening quarter, which was completed at the end of June, the group sales from continued business areas were $ 1.76 billion ($ 1.53 billion). He remained almost unchanged compared to the same period last year. Adjusted to change course changes, he fell by two percent. In advance, the company had expected a decline in sales by three to five percent
The brands The North Face (+6 percent) and Timberland (+11 percent) were able to grow, while Vans’s turnover decreased by 14 percent. The losses in the long -weaking label had been expected to this extent and, according to the company, attributed to targeted strategic measures. The total turnover of the other group brands, including Dickies, Altra and Eastpak, rose by four percent.
CEO Bracken Darrell sees the group “on course”
Thanks to a higher gross margin and significantly lower costs, the group was able to reduce the surgical loss for special effects, which was $ 104.7 million in the first quarter of the previous year, to $ 55.8 million. Here, too, the company exceeded its own forecasts. A corresponding shortfall in the range of $ 110 to $ 125 million was expected.
The net loss from continued business areas fell by 23 percent, the designated net loss was reduced to $ 116.4 million (EUR 100.9 million). He was less than half as high as in the previous year, in which he was $ 258.9 million, not least due to high losses at the Supreme brand, which was now sold.
CEO Bracken Darrell was satisfied with the recent results. In the first quarter, the group “exceeded expectations and forecasts”, he emphasized, referring to the effects of the extensive restructuring measures: “” We reduce the costs, improve margins, remove debts and change the organization. “
Overall, the group is “on course” during its transformation, explained Darrell. Management continues to trust the current strategy and to “attribute the company to long -term growth in sales and profits”.