VF Corp: Turnaround Gains Traction With Brand Strength And Margin Expansion Ahead

VF Corp (VFC) remains a buy as its turnaround gains traction, with shares up 32% in six months and further upside expected. VFC's Q3'26 beat expectations, driven by North Face and Timberland growth, DTC channel recovery, and early signs of stabilization at Vans. Balance sheet strength improved via the Dickies divestiture, debt reduction, and operating margin expansion; refinancing risks are now minimal.