VF Corporation, which owns the Timberland and Vans brands, has released its financial report for the second quarter of the fiscal year (ended September 28, 2024). The bottom line is sales of 2.8 billion US dollars (2.59 billion euros), a decrease of 6% compared to the same period last year. However, the minus is smaller than in the first quarter, when it was 10%. Vans sales fell 11%, down 21% in the first quarter. A sales decline of 3% was measured for the Timberland brand. Gross margin is 52.2%, up 120 basis points. The operating margin is 9.9%, down 210 basis points.
While sales development remains negative, the company was able to return to profitability. Earnings per share, both absolute and diluted, are $0.13. At the time of comparison, there was an absolute and diluted loss per share of $1.16.