V.F. Corporation (VFC): A Bull Case Theory

We came crossed a bullish thesis on V.F. Corporation on Matt McClintock Retail/Consumer Research - M Squared Capital’s Substack by Matthew McClintock. In this article, we volition summarize the bulls’ thesis on VFC. V.F. Corporation's share was trading astatine $20.10 as of February 5th. VFC’s trailing and forward P/E were 37.16 and 18.42 respectively according to Yahoo Finance.

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V.F. Corporation, unneurotic with its subsidiaries, offers branded apparel, footwear, and accessories for men, women, and children successful the Americas, Europe, and the Asia-Pacific. VFC appears to beryllium firmly backmost connected a maturation trajectory for the archetypal clip since FY23, with 75% of its concern increasing this quarter, up from 65%-70% past 4th and 60% successful 1Q26. This momentum is broad-based, reflecting advancement crossed aggregate segments and geographies, and investors whitethorn find it progressively hard to disregard the trend.

The Americas basal retired arsenic a peculiarly beardown region, with absorption noting it arsenic 1 of the company’s champion performances successful implicit 3 years. Growth successful the direct-to-consumer (DTC) transmission is particularly encouraging, arsenic it intimately reflects eventual user request and provides the fastest lever for scaling caller products, peculiarly done integer platforms. Gross borderline trends are positive, with absorption optimistic astir reaching oregon exceeding the semipermanent people of 55%, aided by pricing benefits coming successful Q4 to mitigate earlier tariff impacts.

Vans, portion inactive facing gross headwinds owed to double-digit declines successful caller merchandise sales, shows signs of stabilization, with the marque expected to diminution lone successful the mid-single digits successful 4Q26. Global e-commerce growth, the archetypal successful implicit 4 years, highlights the spot of integer channels, though carnal store traffic remains uneven.

VFC is besides cultivating Altra arsenic a high-potential brand, controlling organisation to physique semipermanent value, with a $1 cardinal gross people successful sight. Management emphasizes a disciplined attack to debt, favoring organic maturation implicit M&A, and maintains a transparent guidance doctrine designed to deed the apical extremity of the scope erstwhile possible. With robust DTC and integer execution, broad-based recovery, and disciplined management, VFC presents a compelling lawsuit for sustainable, multi-channel growth, signaling a beardown upside trajectory for investors.

Previously, we covered a bullish thesis on V.F. Corporation (VFC) by Fun-Imagination-2488 successful April 2025, highlighting the turnaround nether Bracken Darrell, improved revenue, EPS, gross margins, indebtedness reduction, and absorption connected halfway brands. VFC’s banal terms has appreciated by astir 72% since our coverage. Matthew McClintock shares a akin thesis but emphasizes broad-based growth, DTC and integer strength, and the Altra brand’s semipermanent potential.