As we previously reported, it’s been a tough ride for Vans lately. The iconic skate shoe brand saw its revenue drop by a staggering $400 million over the past year.
In the fourth quarter of VF Corporation’s 2025 fiscal year, Vans' revenue plunged 22%, dragging down the parent company’s total revenue by 5%, landing at $2.1 billion. For the full year, Vans posted a 16% decline, making it clear that the brand is in the middle of a serious slump.
But VF Corp’s CEO, Bracken Darrell, isn’t panicking. In fact, he says this dip was expected and is part of a much bigger plan to turn the Vans brand around. “We’re in the middle of a reset,” he explained during VF’s earnings presentation. “The turnaround is well underway.”
The company launched its brand revitalization plan in October 2023, which includes fresh marketing campaigns, new leadership, and some tough cuts — including laying off hundreds of employees. The idea? Reinvent Vans without losing its core identity.
Despite the revenue drop, there are some signs of life. VF says newer Vans products are actually performing well — it's the older, classic "icon" products that are dragging things down. The brand is also cutting back on certain distribution channels to streamline operations and focus on long-term growth.
However, it’s not all smooth skating. Analysts at Evercore noted that Vans’ direct-to-consumer (DTC) revenue might be down more than 10%, and hinted that more store closures could be on the horizon.
Globally, VF saw mixed results:
- The North Face grew 2%
- Timberland climbed 10%
- Dickies fell 14%
VF’s overall DTC sales dropped 5%, and wholesale dipped 4%
VF says it's managing global trade tensions smartly, accelerating shipments during tariff pauses and shifting sourcing away from China (less than 2% of VF’s supply now comes from there).
Looking ahead, Q1 of the 2026 fiscal year isn’t expected to bring a major bounce — VF forecasts another 3% to 5% revenue decline, though it notes that Q1 is typically its smallest quarter.
Bottom line: Vans isn’t dead, but it’s definitely in rebuild mode. With a $400 million hit behind them and a reset plan in motion, the brand’s next moves could determine whether it truly gets back Off The Wall — or just off track.