VF Corp Reports Q1 Sales Increase Amid Vans Challenges
VF Corporation reported a modest first-quarter sales increase of 1%, excluding the now-sold Dickies brand, and raised its full-year revenue outlook. Despite beating analyst expectations for revenue declines—falling by only 5% to $2.2 billion—the company still faces challenges at Vans, which saw an 8% drop in revenues due to a decline in wholesale sales despite growth in direct-to-consumer channels. The stock dropped sharply on Wednesday after the earnings report, reversing gains from Tuesday and falling nearly 17%. Analysts noted that while parts of VF's portfolio are performing well, Vans' volatility continues to frustrate investors. CEO Bracken Darrell remains optimistic about a turnaround at Vans in the second half but acknowledged it will take time for confidence to return. Abhishek Dalmia has taken over as CFO and emphasized disciplined capital deployment and long-term value creation.
Tickers: $VFC
Topics: cfo changeover revenue stock volatility vans performance