In the first quarter of 2026, VF Corporation reported a significant revenue of $1.76 billion, reflecting a substantial decline of 36.16% year-over-year and a 17.87% decrease quarter-over-quarter. The net income recorded was a loss of approximately $126.6 million, marking a staggering year-over-year decline of 342.62%. This disappointing performance comes amidst ongoing challenges within the apparel market and rising competition. Management highlighted a tougher retail environment and the need for strategic pivots to improve profitability moving forward, emphasizing a renewed focus on direct-to-consumer sales.
Despite facing setbacks, management remains cautiously optimistic about the company's long-term strategies to enhance efficiency and market share. The commitment to reducing debt and improving cash flows was reiterated, indicating a focus on strengthening the financial foundation of the company amidst turbulent conditions.