Lifestyle clothing conglomerate VF Corp (NYSE: VFC) reported Q3 CY2025 results exceeding the market’s revenue expectations, but sales fell by 3.5% year on year to $2.80 billion. The company expects next quarter’s revenue to be around $2.90 billion, close to analysts’ estimates. Its non-GAAP profit of $0.52 per share was 22.5% above analysts’ consensus estimates.
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VF Corp (VFC) Q3 CY2025 Highlights:
- Revenue: $2.80 billion vs analyst estimates of $2.78 billion (3.5% year-on-year decline, 0.9% beat)
- Adjusted EPS: $0.52 vs analyst estimates of $0.42 (22.5% beat)
- Revenue Guidance for Q4 CY2025 is $2.90 billion at the midpoint, roughly in line with what analysts were expecting
- Operating Margin: 11.2%, up from 9.4% in the same quarter last year
- Market Capitalization: $6.49 billion
Company Overview
Owner of The North Face, Vans, and Supreme, VF Corp (NYSE: VFC) is a clothing conglomerate specializing in branded lifestyle apparel, footwear, and accessories.
Revenue Growth
A company’s long-term sales performance is one signal of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Regrettably, VF Corp’s sales grew at a sluggish 4% compounded annual growth rate over the last five years. This was below our standard for the consumer discretionary sector and is a rough starting point for our analysis.
Long-term growth is the most important, but within consumer discretionary, product cycles are short and revenue can be hit-driven due to rapidly changing trends and consumer preferences. VF Corp’s performance shows it grew in the past but relinquished its gains over the last two years, as its revenue fell by 2% annually. 
This quarter, VF Corp’s revenue fell by 3.5% year on year to $2.80 billion but beat Wall Street’s estimates by 0.9%. Company management is currently guiding for a 2% year-on-year decline in sales next quarter.
Looking further ahead, sell-side analysts expect revenue to remain flat over the next 12 months. While this projection indicates its newer products and services will catalyze better top-line performance, it is still below average for the sector.
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Operating Margin
VF Corp’s operating margin has been trending up over the last 12 months, leading to break even profits over the last two years. However, its large expense base and inefficient cost structure mean it still sports inadequate profitability for a consumer discretionary business.
This quarter, VF Corp generated an operating margin profit margin of 11.2%, up 1.7 percentage points year on year. This increase was a welcome development, especially since its revenue fell, showing it was more efficient because it scaled down its expenses.
Earnings Per Share
Revenue trends explain a company’s historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions.
Sadly for VF Corp, its EPS declined by 11.6% annually over the last five years while its revenue grew by 4%. This tells us the company became less profitable on a per-share basis as it expanded.
In Q3, VF Corp reported adjusted EPS of $0.52, down from $0.60 in the same quarter last year. Despite falling year on year, this print easily cleared analysts’ estimates. Over the next 12 months, Wall Street expects VF Corp’s full-year EPS of $0.77 to grow 16.1%.
Key Takeaways from VF Corp’s Q3 Results
It was good to see VF Corp beat analysts’ EPS expectations this quarter. We were also happy its revenue narrowly outperformed Wall Street’s estimates. Overall, this print had some key positives. The stock traded up 5% to $17.43 immediately following the results.
Indeed, VF Corp had a rock-solid quarterly earnings result, but is this stock a good investment here? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
