V.F. Corporation reported its second-quarter fiscal 2025 financial results for the period ended September 28, 2024. The company achieved revenues of $2.76 billion, surpassing the consensus estimate of $2.7 billion.
Adjusted earnings per share reached $0.60, exceeding analyst estimates of $0.37 per share. Gross margin expanded by 120 basis points to 52.2%, driven by product cost tailwinds.
The company made progress on its 'Reinvent' program, reducing net debt by approximately $450 million year-over-year and decreasing inventories by 13%. Vans' revenue decline moderated to 11%, an improvement from the prior quarter's 21% decline, while The North Face was down 4% and Timberland was down 3%.
VFC confirmed it is on track to achieve its previously announced $300 million cost savings target by the end of fiscal 2025. The Board of Directors also declared a quarterly dividend of $0.09 per share.
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