$VFC

V F CORP

CIK:0000103379|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Revenues	$ 1,669,379	$ 1,760,666
Costs and operating expenses
Cost of goods sold	752,335	811,664
Selling, general and administrative expenses	1,000,116	1,035,611
Total costs and operating expenses	1,752,451	1,847,275
Operating loss	(83,072)	(86,609)
Interest income	5,807	2,518
Interest expense	(30,418)	(43,638)
Other income (expense), net	791	1,136
Loss before income taxes	(106,892)	(126,593)
Income tax benefit	(9,740)	(10,185)
Net loss	$ (97,152)	$ (116,408)
Net loss per common share
Basic (in USD per share)	$ (0.25)	$ (0.30)
Diluted (in USD per share)	$ (0.25)	$ (0.30)
Weighted average shares outstanding
Basic (in shares)	392,107	390,024
Diluted (in shares)	392,107	390,024

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
OPERATING ACTIVITIES
Net loss	$ (97,152)	$ (116,408)
Adjustments to reconcile net loss to cash used by operating activities:
Depreciation and amortization	57,786	64,362
Reduction in the carrying amount of right-of-use assets	93,558	85,219
Stock-based compensation	22,832	20,684
Provision for doubtful accounts	2,130	3,327
Pension expense in excess of (less than) contributions	1,325	(5,730)
Other, net	(22,755)	8,908
Changes in operating assets and liabilities:
Accounts receivable	213,530	200,423
Inventories	(537,005)	(450,750)
Accounts payable	467,921	347,962
Income taxes	(44,676)	(51,303)
Accrued liabilities	(99,782)	(110,210)
Operating lease right-of-use assets and liabilities	(91,872)	(86,168)
Other assets and liabilities	(28,336)	(55,776)
Cash used by operating activities	(62,496)	(145,460)
INVESTING ACTIVITIES
Payment for working capital adjustment for sale of business	(11,867)	0
Proceeds from sale of assets	22,514	605
Capital expenditures	(39,580)	(28,246)
Software purchases	(13,686)	(17,148)
Other, net	(1,681)	(4,224)
Cash used by investing activities	(44,300)	(49,013)
FINANCING ACTIVITIES
Net increase (decrease) in short-term borrowings	(451)	380,446
Payments on long-term debt	0	(282)
Payment of debt issuance costs	0	(1,540)
Cash dividends paid	(35,377)	(35,150)
Proceeds from issuance of Common Stock, net of payments for tax withholdings	(5,097)	(4,519)
Cash provided (used) by financing activities	(40,925)	338,955
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash	(4,052)	72,377
Net change in cash, cash equivalents and restricted cash	(151,773)	216,859
Cash, cash equivalents and restricted cash – beginning of year	832,344	431,475
Cash, cash equivalents and restricted cash – end of period	680,571	648,334
Balances per Consolidated Balance Sheets:
Cash and cash equivalents	670,063	642,386
Other current assets	10,258	5,871
Other assets	250	77
Total cash, cash equivalents and restricted cash	$ 680,571	$ 648,334

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 27, 2026	Mar. 28, 2026	Jun. 28, 2025
Current assets
Cash and cash equivalents	$ 670,063	$ 823,943	$ 642,386
Accounts receivable, less allowance for doubtful accounts of: June 2026 - $23,149; March 2026 - $23,964; June 2025 - $35,803	1,215,279	1,427,957	1,172,223
Inventories	1,899,470	1,371,274	2,135,478
Other current assets	417,758	386,340	425,429
Total current assets	4,202,570	4,009,514	4,375,516
Property, plant and equipment, net	674,539	674,508	720,785
Intangible assets, net	1,463,187	1,467,542	1,723,749
Goodwill	586,298	587,705	620,829
Operating lease right-of-use assets	1,307,325	1,320,733	1,319,142
Other assets	1,230,463	1,230,175	1,390,476
TOTAL ASSETS	9,464,382	9,290,177	10,150,497
Current liabilities
Short-term borrowings	9,688	10,139	392,915
Current portion of long-term debt	499,375	0	586,005
Accounts payable	1,274,713	826,347	1,166,757
Current portion of operating lease liabilities	325,396	333,469	312,037
Accrued liabilities	839,250	1,011,217	981,925
Total current liabilities	2,948,422	2,181,172	3,439,639
Long-term debt	3,003,417	3,519,870	3,560,990
Long-term portion of operating lease liabilities	1,115,806	1,119,876	1,135,094
Other liabilities	632,120	619,381	722,491
Total liabilities	7,699,765	7,440,299	8,858,214
Commitments and contingencies
Stockholders’ equity
Preferred Stock, par value $1; shares authorized, 25,000,000; no shares outstanding at June 2026, March 2026 or June 2025	0	0	0
Common Stock, stated value $0.25; shares authorized, 1,200,000,000; shares outstanding at June 2026 - 393,117,450; March 2026 - 391,515,399; June 2025 - 390,555,382	98,279	97,879	97,639
Additional paid-in capital	3,480,918	3,487,884	3,527,375
Accumulated other comprehensive loss	(777,515)	(807,051)	(1,037,424)
Accumulated deficit	(1,037,065)	(928,834)	(1,295,307)
Total stockholders’ equity	1,764,617	1,849,878	1,292,283
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 9,464,382	$ 9,290,177	$ 10,150,497