On January 28, 2026, Goldman Sachs kept its Neutral rating on VF Corp, adjusting its 12-month price target upward from $16 to $18. The firm highlighted the company’s consistent execution on its cost-saving initiatives and noted that the recent divestiture of the Dickies brand has sharpened VF Corp’s focus on its core lifestyle portfolio. Goldman’s analysts believe that while near-term upside is constrained, VF’s strategic brand realignment and margin improvement programs will support stable cash flow generation.

In the third quarter, VF Corp reported adjusted earnings of $0.58 per share, beating the FactSet consensus of $0.45 by 29%. Revenue climbed 1.5% year-over-year to $2.88 billion, topping analysts’ estimates of $2.75 billion. This performance was driven by strong holiday-season sales at The North Face and Timberland, which together accounted for roughly 40% of the quarter’s revenue growth.

VF Corp’s gross margin widened by 30 basis points to 56.6%, buoyed by a favorable product mix and sourcing savings that offset tariff impacts. Operating income rose by 28% to $289 million, up from $226 million a year earlier. Jefferies observed that the Vans brand showed sequential improvement, with a constant-currency sales decline of 10% compared to an 11% drop in the prior quarter, reflecting successful product innovation and inventory management.

Despite the quarter’s positive results, VF Corp’s shares have experienced volatility over the past year, trading within a range of $9.41 to $29.02. With a current market capitalization near $7.5 billion, the company is forecasting flat to 2% revenue growth in the fourth quarter of fiscal 2026, and adjusted operating income between $10 million and $30 million. Management reiterated its commitment to higher free cash flow and operating cash flow growth for the full year as it continues to execute its Reinvent plan.