While the Vans segment struggles, the company is betting on a broader recovery led by its outdoor portfolio. CEO Bracken Darrell highlighted growth in The North Face, Timberland, and Altra, prompting the firm to raise its full-year revenue outlook to a minimum 2% increase on a constant-currency basis. Despite the revenue decline, the Denver-based company narrowed its net loss to $97.2 million, or 25 cents a share, compared with a $116.4 million loss in the prior-year period.
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VF Corp Finance Chief Departs as Vans Slump Weighs on Results
VF Corporation shares slid nearly 7% in premarket trading after the apparel giant reported a 5% revenue drop to $1.67 billion, dragged down by ongoing weakness in its Vans brand, alongside the surprise announcement that CFO Paul Vogel will step down after just two years in the role.
Abhishek Dalmia, the current executive vice president and chief operating officer, will assume the CFO role on August 1. Vogel, who joined in 2024, will move into an advisory position to oversee the transition. The company stated the departure is amicable and unrelated to any internal disputes, though the adjusted loss of 27 cents a share missed analyst expectations of 22 cents. Excluding the recent sale of the Dickies brand, underlying revenue managed a 1% increase, providing a thin margin of optimism for investors.
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