DENVER, CO – August 28, 2025 — This week, employees from VF Corporation (NYߣ����վ: VFC), a global leader in branded lifestyle apparel, footwear, and accessories, are traveling to Old Fort and Asheville, North Carolina, to take part in hands-on volunteer projects aimed at restoring trails and waterways damaged by Hurricane Helene. This inaugural service trip is an expansion of VF’s ongoing commitment to supporting communities in need and builds upon financial assistance provided by The VF Foundation to help with disaster recovery in the region.

Outdoor restoration events will take place throughout the week. First, employees will work with VF Foundation grantee, G5 Trail Collective, in Old Fort to improve trail infrastructure, working alongside local nonprofits, community leaders, and outdoor advocates, including the Outdoor Foundation, the Morrison Family Foundation, and North Carolina Outdoor Economy Office. Later in the week, the team will partner with Mountain True in Asheville to remove trash and debris along the rivers. These efforts are designed not only to address damage caused by the hurricane but also to strengthen the long-term resilience of the region’s natural areas, which serve as vital recreational and ecological resources for the community and help fuel North Carolina’s outdoor recreation economy.

Brent Hyder, VF’s Chief People Officer and President, AMER Region, as well as Vice Chair of The VF Foundation, emphasized the deep connection between VF’s values and volunteerism. “At VF, service is more than just something we do—it’s a core part of who we are. Volunteering allows us to strengthen the places where we live, work and play while staying connected to each other and the communities that support us. Seeing our employees come together this week to lend their time and hard work in Old Fort and Asheville was incredibly inspiring and puts our values into actions in ways that uplift and improve these special places for us and North Carolina.”

VF has deep roots in North Carolina, with a presence for nearly 30 years in the state and a major office hub in Greensboro. The VF Foundation has contributed more than $10 million to the state and specifically supported Hurricane Helene recovery efforts last fall with a 3:1 employee matching grant amounting to more than $100,000 to the American Red Cross and $10,000 to the Outdoor Recreation Roundtable’s Rural Resilience Grant Program, along with a collection of product donations from The North Face^®, Altra^® and Smartwool^® brands totaling more than $1 million.

This week, the Foundation also announced a donation of an additional $100,000 to The Outdoor Foundation’s Thrive Outside Initiative in Western North Carolina to further expand outdoor access for youth and families through local schools and nonprofits and continue the support of Hurricane Helene relief efforts.

“We believe in pairing philanthropy with action,” said Gloria Schoch, Executive Director of The VF Foundation. “By combining monetary grants with boots-on-the-ground volunteerism we hope to deliver both immediate and lasting benefits to the communities that remain an important part of our footprint. This is the beginning of a programmatic journey we hope to evolve and grow year after year.”

VF’s commitment to volunteerism is reflected across its brand portfolio, with brands like Timberland^® making service a cornerstone of their culture. VF’s new annual service trip initiative will continue to build on this legacy, offering employees meaningful opportunities to give back while deepening their connection to the places they live and work.

To learn more about grantees of the VF Foundation, please see the latest��Impact Report.

About VF
VF Corporation is a portfolio of leading outdoor, active and workwear brands, including��The North Face^®,��Vans^®,��Timberland^®�����Ի���Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit��.

About The VF Foundation
��The VF Foundation is the philanthropic arm of VF Corporation. Inspired by the vision of VF Corporation and its brands, The VF Foundation works to create positive societal impact and systems change to advance a more active, sustainable, and inclusive world. Established in 2002, The VF Foundation has granted more than $75 million globally to improve the communities where VF operates through its key strategic pillars: Thriving Outside, Protecting Our Planet, Powering Potential, and supporting Humanitarian Relief and Recovery. Learn more at /responsibility/the-vf-foundation.

Media Contact:
Colin Wheeler
Vice President, Corporate Affairs, Public Relations and Communications
corporate_communications@vfc.com

Bracken Darrell, President and CEO, said: "We performed ahead of our expectations and guidance in Q1'26, improving our top-line trend versus last year to flat (-2% C$) while delivering a much stronger bottom line. The North Face^® and Timberland^® sustained their positive momentum while Altra^® grew strongly. Vans^® was impacted by channel rationalization actions, as we strengthen the business to return to healthy, sustainable growth.

As I pass the two-year mark in my role as CEO, we are on track with VF's transformation. We are lowering costs, improving margins, reducing debt and transforming the organization. We have reset the table and soon will move to growth. That is what we are all here for and what the entire organization is now focused on.

We are as confident as ever in our plans to transform VF and return the company to long-term growth, in revenue and in profit."

Q1'26 Financial Review

• Revenue of $1.8B, flat vs. LY or (2%) C$
  • Revenue above guidance
  • Wholesale timing shift into Q1'26 from Q2'26 benefited revenue by 2% or 1% C$
  • Excluding Vans^®, total revenue was +6% vs. LY or +5% C$
  • Global strength at The North Face^® and Timberland^®, while Vans^® was (14%) vs. LY or (15%) C$, impacted by channel rationalization actions
• Adjusted operating loss significantly beat guidance
  • Operating loss of ($87M); adjusted operating loss of ($56M), significantly better than guidance of ($125M) to ($110M)
  • Operating margin of (4.9%), up 210bps vs. LY, and adjusted operating margin of (3.2%), up 270bps vs. LY
  • Gross margin up 270bps vs. LY and adjusted gross margin up 290bps vs. LY
  • SG&A dollars up 1% vs. LY and adjusted SG&A dollars flat vs. LY
• EPS (loss) of ($0.30), adjusted EPS of ($0.24)
  • Earnings (loss) per share (EPS) of ($0.30) vs. Q1'25 ($0.39), adjusted EPS of ($0.24) vs. Q1'25 ($0.35)
  • Net interest expense of ($41M); effective tax rate of 8.0% and adjusted effective tax rate of 3.5%
• Net debt down $1.4B or (20%) vs. LY
  • Net debt excluding lease liabilities down $1.4B or (27%) vs. LY

Q2'26 and FY'26 Financial Outlook

• Q2'26:
  • Revenue (4%) to (2%) C$ vs. LY
  • Adjusted operating income of $260M to $290M
• FY'26:
  • Free cash flow up vs. LY, includes known and anticipated tariff impacts
    • Adjusted operating income up vs. LY
    • Operating cash flow up vs. LY

Webcast Information

VF management will host its first quarter Fiscal 2026 conference call beginning at approximately 8:00 a.m. ET today. The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.

Dividend Declared

VF’s Board of Directors declared a quarterly dividend of $0.09 per share. This dividend will be payable on September 18, 2025, to shareholders of record at the close of business on September 10, 2025.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit vfc.com.

Financial Presentation Disclosure

All per share amounts are presented on a diluted basis. This release refers to “reported” (R$) and “constant dollar” (C$) or “constant currency” amounts, terms that are described under the heading below “Constant Currency - Excluding the Impact of Foreign Currency.” Unless otherwise noted, “reported” and “constant dollar” or “constant currency” amounts are the same, and amounts will be as "reported" unless otherwise specified. This release also refers to “continuing” and “discontinued” operations amounts, which are concepts described under the heading “Discontinued Operations - Supreme.” Unless otherwise noted, results presented are based on continuing operations. This release also refers to “adjusted” amounts, a term that is described under the heading "Adjusted Amounts - Excluding Reinvent". Unless otherwise noted, “reported” and “adjusted” amounts are the same. VF operates and reports using a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. This release refers to VF's first quarter of Fiscal 2026 as Q1'26, and similarly Q1'25 denotes VF's first quarter of Fiscal 2025, etc. VF defines "free cash flow" as cash flow from continuing operations less capital expenditures and software purchases and defines "net debt" as long-term debt, the current portion of long-term debt, short-term borrowings, and operating lease liabilities, less cash and cash equivalents per VF's consolidated balance sheet.

Change in Reportable Segments

VF realigned its reportable segments in the first quarter of Fiscal 2026. VF's updated reportable segments are Outdoor and Active. We have included an "All Other" category for the remaining operating segments that do not meet the quantitative threshold to be disclosed as a separate reportable segment. VF's financial results for Q1'26 and Q1'25 in this presentation reflect the new segments. VF has recast the quarterly prior period segment data for Fiscal 2025 to reflect the change and included this information in Exhibit 99.3 and Exhibit 99.1 of VF's Current Report on Form 8-K dated July 30, 2025.

Discontinued Operations - Supreme

On July 16, 2024, VF entered into a definitive Stock and Asset Purchase Agreement with EssilorLuxottica S.A. to sell the Supreme^® brand business (“Supreme”). On October 1, 2024, VF completed the sale of Supreme. Accordingly, the company has reported the related held-for-sale assets and liabilities as assets and liabilities of discontinued operations and included the operating results and cash flows of the business in discontinued operations for all periods presented, through the date of sale.

Constant Currency - Excluding the Impact of Foreign Currency

This release refers to “reported” amounts in accordance with U.S. generally accepted accounting principles (“GAAP”), which include translation and transactional impacts from foreign currency exchange rates. This release also refers to both “constant dollar” and “constant currency” amounts, which exclude the impact of translating foreign currencies into U.S. dollars. Reconciliations of GAAP measures to constant currency amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors.

Adjusted Amounts - Excluding Reinvent

The adjusted amounts in this release exclude costs related to Reinvent, VF's transformation program. Costs, including restructuring charges and project-related costs, were approximately $31 million in the first quarter of Fiscal 2026.

The above items negatively impacted loss per share by $0.06 during the first quarter of Fiscal 2026. All adjusted amounts referenced herein exclude the effects of these amounts.

Reconciliations of measures calculated in accordance with GAAP to adjusted amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors. The company does not provide a reconciliation of forward-looking measures where the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors and is unable to reasonably predict certain items contained in the GAAP measures without unreasonable efforts. This is due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred and are out of the company's control or cannot be reasonably predicted. For the same reasons, the company is unable to address the probable significance of the unavailable information.

Forward-looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on VF’s expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. Words such as “will,” “anticipate,” "believe," “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates may be used to identify forward-looking statements, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto, are forward-looking statements. Forward-looking statements are not guarantees, and actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel, footwear and accessories; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products, including as a result of tariffs; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute its Reinvent transformation program, "The VF Way" and other business priorities, including measures to streamline and right-size its cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which it relies, are frequent targets of cyber-attacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyber-attacks, could result in data or financial loss, reputational harm, business disruption, damage to VF’s relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions, including any potential effects from changes in tariffs and international trade policy; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Europe, the Middle East and Asia and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; and tax risks associated with the spin-off of the Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed with the ߣ����վC, including VF’s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the ߣ����վC.

Notes:

^(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, were $30.8 million in the three months ended June 2025. These costs related primarily to severance and employee-related benefits and expenses related to the engagement of a consulting firm to support VF's transformation journey. VF entered into a contract with a consulting firm during the second quarter of Fiscal 2025, with services under the contract expected to be substantially complete by the third quarter of Fiscal 2026. In addition to payment for services, the contract includes contingent fees tied to increases in VF's stock price through June 2027. Expenses related to the contract, including contingent fees, were $8.0 million in the three months ended June 2025. Reinvent resulted in a net tax benefit of $6.8 million in the three months ended June 2025.

The Company incurred $207.6 million in total restructuring charges in connection with Reinvent. Substantially all restructuring actions were completed at the end of the first quarter of Fiscal 2026. Total fees associated with the contract with the consulting firm could be up to $141.0 million, with $75.0 million of the fees contingent on increases to VF’s stock price through June 2027.

^(b) Amounts shown in the table have been calculated using unrounded numbers. The diluted net loss per share impacts were calculated using 390,024,000 weighted average common shares for the three months ended June 2025.

Non-GAAP Financial Information

The financial information above has been presented on a GAAP basis and on an adjusted basis, which excludes the impact of Reinvent. The adjusted presentation provides non-GAAP measures. Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.

Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies.

Notes:

^(a) Costs related to Reinvent, VF's transformation program, including restructuring charges and project-related costs, were $17.8 million in the three months ended June 2024. These costs related primarily to severance and employee-related benefits. Reinvent resulted in a net tax benefit of $4.1 million in the three months ended June 2024.

^(b) Transaction and deal related activities reflect activities associated with the review of strategic alternatives for the Global Packs business, consisting of the Kipling^®, Eastpak^® and JanSport^® brands, which totaled $0.5 million for the three months ended June 2024. The transaction and deal related activities resulted in a net tax benefit of $0.1 million in the three months ended June 2024.

^(c) Amounts shown in the table have been calculated using unrounded numbers. The diluted net loss per share impacts were calculated using 388,741,000 weighted average common shares for the three months ended June 2024.

Non-GAAP Financial Information

The financial information above has been presented on a GAAP basis and on an adjusted basis, which excludes the impact of Reinvent and transaction and deal related activities. The adjusted presentation provides non-GAAP measures. Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.

Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies.

Constant Currency Financial Information

VF is a global company that reports financial information in U.S. dollars in accordance with GAAP. Foreign currency exchange rate fluctuations affect the amounts reported by VF from translating its foreign revenues and expenses into U.S. dollars. These rate fluctuations can have a significant effect on reported operating results. As a supplement to our reported operating results, we present constant currency financial information, which is a non-GAAP financial measure that excludes the impact of translating foreign currencies into U.S. dollars. We use constant currency information to provide a framework to assess how our business performed excluding the effects of changes in the rates used to calculate foreign currency translation. Management believes this information is useful to investors to facilitate comparison of operating results and better identify trends in our businesses.

To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period).

These constant currency performance measures should be viewed in addition to, and not in lieu of or superior to, our operating performance measures calculated in accordance with GAAP. The constant currency information presented may not be comparable to similarly titled measures reported by other companies.

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation

The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation

VF management will host its fourth quarter fiscal 2025 conference call beginning at approximately 8:00 a.m. ET today. The conference call will be broadcast live via the Internet, accessible at . For those unable to listen to the live broadcast, an archived version will be available at the same location.

Dividend Declared

VF’s Board of Directors declared a quarterly dividend of $0.09 per share. This dividend will be payable on June 18, 2025, to shareholders of record at the close of business on June 10, 2025.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation

The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

��

Source: VF Corporation

Bracken Darrell, President and CEO, said: “We continue to make progress on transforming VF through our Reinvent plan. Since I joined VF just over a year and a half ago, we have delivered on our key priorities: reduced costs, lowered net debt, improved the performance of the Americas business, and taken strong steps in the ongoing Vans turnaround. As part of our completely reset leadership team, our new brand presidents are perfectly placed to leverage their rich experience in the areas of product and marketing to grow our brands.

For the next phase of our transformation plan, we are adopting ‘The VF Way’, a series of best-in-class standardized processes which will empower our brands by enhancing creativity and building functional excellence to fuel long-term growth. I am confident these actions will create a multi-brand advantage for VF while enabling further investment to drive sustainable shareholder value creation.”

Webcast Information

The event will be broadcast live on the Internet, accessible at vfc.com/investor-day-2025 beginning at approximately 10:00 a.m. until 12:30 p.m. ET today. An archived version of the broadcast will be available at the same location following the event until March 16, 2025.

Presentation

All presentations will be posted and archived at vfc.com/investor-day-2025 following the conclusion of the event.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

Forward-looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on VF's expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” "believe," “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto are forward-looking statements. VF cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel and footwear; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute its Reinvent transformation program and other business priorities, including measures to streamline and right-size its cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which we rely, are frequent targets of cyber-attacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyber-attacks, including the cyber incident that was reported by VF in December 2023, could result in data or financial loss, reputational harm, business disruption, damage to our relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio; VF's ability to realize benefits from the completed sale of the Supreme^® brand business; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Ukraine and the Middle East and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; and tax risks associated with the spin-off of the Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed with the ߣ����վC, including VF’s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the ߣ����վC.

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation

This in-person event will be held in New York City and is by invitation only. The presentation will be broadcast live on the Internet, accessible at . For those unable to listen to the live broadcast, an archived version will be available at the same location until March 16, 2025.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit vfc.com.

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
Corporate_Communications@vfc.com

Source: VF Corporation

VF management will host its third quarter fiscal 2025 conference call beginning at approximately 8:00 a.m. ET today. The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.

Dividend Declared

VF’s Board of Directors declared a quarterly dividend of $0.09 per share. This dividend will be payable on March 20, 2025, to shareholders of record at the close of business on March 10, 2025.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation

The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation

Bracken Darrell, President and CEO, said: "We activated our transformation program, Reinvent, during my first 15 months at VF, through which we are making excellent progress advancing our priorities and reshaping the company. We are accelerating the pace of change by building new capabilities across our organization to leverage our powerful portfolio of brands for long-term, sustainable, profitable growth. We are beginning to see benefits from our initiatives, but significant upside remains as we create a structure primed for growth while transforming our company and its culture. This strong foundation positions us to quickly enhance VF’s profitability while enabling further investment in sustainable shareholder value creation."

FY25 Investor Day, Part 1

The company is updating the key pillars of its enterprise strategy and introducing medium-term¹ financial targets.

• Capitalizing on VF’s multi-brand portfolio anchored in performance: VF’s brands will remain anchored in the performance category with style elements that further expand the platform for growth. The company is adopting a unified way of operating that can be scaled across the multi-brand portfolio.
• Investing in scalable capabilities: VF is investing in six key areas to build capabilities and enhance the company’s competitive advantage: elevated design function, modern marketing, global commercial platform, best-in-class integrated business planning, use-case centric AI and talent development.
• Creating the optimal value-building P&L structure: A series of integrated workstreams are underway and making progress addressing key capability gaps with a focus on reducing the SG&A cost base, expanding gross margin and positioning the company for future revenue growth. These actions together are expected to create a scalable and highly cash generative P&L structure.
• Committing to further strengthening the balance sheet: VF intends to further reduce debt and leverage to reach its optimal capital structure. The company will continue to prioritize free cash flow² and debt reduction with a goal of further reducing net leverage³. While prioritizing debt paydown, VF remains committed to returning capital to shareholders through paying a quarterly cash dividend, subject to approval by VF’s Board of Directors.

Medium-Term Financial Targets

• Adjusted operating margin of at least 10%
  • Adjusted gross margin of at least 55%
  • Adjusted SG&A as a percentage of revenue of 45% or lower
• Net leverage of 2.5x or below

^{____________________
1} Medium-term is defined as in Fiscal Year 2028.
² Free cash flow is defined as cash flow from operations less capital expenditures and software purchases.
³ Net leverage is calculated as net debt to adjusted EBITDA. Net debt includes long-term debt, the current portion of long-term debt, short-term borrowings, and operating lease liabilities, less cash and cash equivalents per VF’s consolidated balance sheet. Adjusted EBITDA excludes rent expense.

Webcast Information

The event will be broadcast live on the Internet, accessible at vfc.com/investor-day-2024 beginning at approximately 10:00am until 12:00pm ET today. An archived version will be available at the same location following the event.

Presentation

All presentations will be posted and archived at vfc.com/investor-day-2024 following the conclusion of the event.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face^®, Vans^®, Timberland^® and Dickies^®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit .

Adjusted Amounts

The company provides these targets on an adjusted, non-GAAP basis as we cannot predict certain elements which are included in reported GAAP results.

Forward-looking Statements

Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on VF's expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” "believe," “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto are forward-looking statements. VF cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel and footwear; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute its Reinvent transformation program and other business priorities, including measures to streamline and right-size its cost base and strengthen the balance sheet while reducing leverage; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which we rely, are frequent targets of cyber-attacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyber-attacks, including the cyber incident that was reported by VF in December 2023, could result in data or financial loss, reputational harm, business disruption, damage to our relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio; VF's ability to realize benefits from the completed sale of the Supreme^® brand business; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Ukraine and the Middle East and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; and tax risks associated with the spin-off of the Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed with the ߣ����վC, including VF’s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the ߣ����վC.

View source version on businesswire.com:

Investor Contact:
Allegra Perry
ir@vfc.com

Media Contact:
Colin Wheeler
corporate_communications@vfc.com

Source: VF Corporation