Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.26.1
REVENUES
 3 Months Ended
Jun. 27, 2026
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Contract Balances
The following table provides information about contract assets and contract liabilities:
(In thousands) June 2026 March 2026 June 2025
Contract assets (a)
$ 1,126  $ 976  $ 6,365 
Contract liabilities (b)
78,421  76,923  76,164 
(a)Included in the other current assets line item in the Consolidated Balance Sheets.
(b)Included in the accrued liabilities line item in the Consolidated Balance Sheets.

For the three months ended June 2026, the Company recognized $47.3 million of revenue that was included in the contract liability balance during the period, including amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied within the same period, such as order deposits from customers. The change in the contract asset and contract liability balances primarily results from timing differences between the Company’s satisfaction of performance obligations and the customer’s payment.
Performance Obligations
As of June 2026, the Company expects to recognize $8.5 million of fixed consideration related to the future minimum guarantees in effect under its licensing agreements and expects such
amounts to be recognized over time based on the contractual terms through December 2028. The variable consideration related to licensing arrangements is not disclosed as a remaining performance obligation as it qualifies for the sales-based royalty exemption. VF has also elected the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with an original expected duration of one year or less.
As of June 2026, there were no arrangements with transaction price allocated to remaining performance obligations other than contracts for which the Company has applied the practical expedients and the fixed consideration related to future minimum guarantees discussed above.
Disaggregation of Revenues
The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors.
Three Months Ended June 2026
(In thousands) Outdoor Active
All Other (a)
Total
Channel revenues
Wholesale $ 471,604  $ 359,357  $ 93,791  $ 924,752 
Direct-to-consumer 382,176  304,909  51,306  738,391 
Royalty 3,199  3,037  —  6,236 
Total $ 856,979  $ 667,303  $ 145,097  $ 1,669,379 
Geographic revenues
Americas $ 408,128  $ 400,081  $ 87,292  $ 895,501 
Europe 274,997  189,700  46,449  511,146 
Asia-Pacific 173,854  77,522  11,356  262,732 
Total $ 856,979  $ 667,303  $ 145,097  $ 1,669,379 
Three Months Ended June 2025
(In thousands) Outdoor Active
All Other (a)
Total
Channel revenues
Wholesale $ 456,831  $ 392,423  $ 175,252  $ 1,024,506 
Direct-to-consumer 352,210  301,029  67,424  720,663 
Royalty 3,425  6,235  5,837  15,497 
Total $ 812,466  $ 699,687  $ 248,513  $ 1,760,666 
Geographic revenues
Americas $ 372,847  $ 404,035  $ 160,716  $ 937,598 
Europe 272,844  213,507  64,912  551,263 
Asia-Pacific 166,775  82,145  22,885  271,805 
Total $ 812,466  $ 699,687  $ 248,513  $ 1,760,666 
(a)“All Other” is included for purposes of reconciliation of revenues, but it is not considered a reportable segment. “All Other” includes the following brands: Dickies® (through the date of sale), Altra®, Smartwool®, Napapijri® and Icebreaker®.