By Denny Jacob

VF Corp. posted higher-than-expected revenue in its third quarter with sales growing across all its regions as previously-enacted turnaround efforts continue to bear fruit.

The owner of brands including Vans, North Face and Timberland logged net income of $167.8 million, or 43 cents a share, for the three months ended Dec. 31, compared to a loss of $42.5 million, or 11 cents a share, a year earlier.

Stripping out certain one-time items, earnings came in at 62 cents a share. Analysts polled by FactSet expected 34 cents a share.

Revenue ticked up 1.9% to $2.83 billion from $2.78 billion. Analysts polled by FactSet expected $2.75 billion.

By region, revenue grew in the Americas, EMEA and APAC. APAC, which represents the smallest region by percentage of revenue, grew 5% to $432.9 million.

By brand, North Face grew 5% to $1.25 billion from a year earlier, while Timberland climbed 11% to $527 million during the same period. Vans declined 9% to $607.6 million, and Dickies was off 10% to $133.6 million.

Turning around the performance at Vans and VF as a whole has been a continuing effort under Chief Executive Bracken Darrell since he joined in July 2023.

Darrell in Wednesday's earnings announcement said VF's turnaround plan is on track as it delivers against its priorities. He added that there is still work to do to consistently deliver double-digit operating margins and sustainable top-line growth.

VF forecast fourth-quarter revenue to be down between 4% and 6% from a year earlier. For fiscal 2025, the company now expects free cash flow of $440 million, up from its prior guidance of $425 million.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 29, 2025 07:33 ET (12:33 GMT)

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