Q2 2025 VF Corp Earnings Call Transcript
Key Points
- VF Corp (VFC) achieved $65 million in cost savings during Q2, contributing to a cumulative total of $200 million since the Reinvent program's inception.
- The company successfully reduced inventories by 13% compared to the previous year, indicating improved inventory management.
- Net debt was reduced by almost $450 million year-over-year, and the company paid down a $1 billion term loan post-quarter, strengthening the balance sheet.
- Vans showed a significant improvement with a decline of 11% in Q2 compared to a 21% decline in Q1, indicating progress in the brand's turnaround.
- The North Face brand continued to perform well, particularly in APAC, and was recognized by Time Magazine as the world's best brand in the outdoor apparel category.
- Overall Q2 revenue was down 6% year-over-year, reflecting ongoing challenges in the business.
- The North Face experienced a 4% revenue decline due to strong prior-year comparisons, particularly in the Americas.
- Timberland's revenue was down 3% in Q2, despite improvements from Q1, indicating ongoing challenges in the brand's performance.
- Dickies brand revenue declined by 11% in Q2, although it showed sequential improvement from Q1.
- The company is still facing challenges in the US market, with the Americas region down 9% in Q2, despite sequential improvements.
Ladies and gentlemen, thank you for standing by. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the VF Corporation second quarter fiscal year 2025 earnings conference call. (Operator Instructions)
And I would now like to turn the conference over to Allegra Perry, Vice President of Investor Relations. You may begin.
Hello, and welcome to VF Corporation's second quarter fiscal 2025 conference call. Participants on today's call will make forward-looking statements. These statements are based on current expectations and are subject to uncertainties that could cause actual results to differ materially. These uncertainties are detailed in documents filed regularly with the SEC.
Unless otherwise noted, amounts referred to on today's call will be on an adjusted constant dollar and continuing operations basis, which we've defined in the press release that was issued this afternoon and which we use as lead numbers in our
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