V F CORP

NOTE 4 —DIVESTITURE

The Company continuously assesses the composition of its portfolio to ensure it is aligned with its strategic objectives and positioned to maximize growth and return to shareholders.

Dickies

On September 15, 2025, VF entered into a definitive agreement with Bluestar Alliance LLC to sell Dickies for $600.0 million in cash, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. The Company determined that the associated assets and liabilities met the held-for-sale accounting criteria and they were classified accordingly in the September 2025 Consolidated Balance Sheet. The Company determined that the sale of Dickies did not represent a strategic shift that would have a major effect on the Company’s operations and financial results, and therefore did not qualify for presentation as a discontinued operation. The results of operations for Dickies through the date of sale are included within the “All Other” categoryin Note 14, Reportable Segment Information.

On November 12, 2025, VF completed the sale of Dickies and received proceeds of $600.5 million, net of cash sold. VF recorded a final pre-tax gain of $127.2 million in the year ended March 2026, which included a reduction to the gain to reflect final working capital adjustments of $11.9 million that were paid in the first quarter of Fiscal 2027. The pre-tax gain was included in theother income (expense), net line item in the Consolidated Statement of Operations for the year ended March 2026.

Under the terms of a transition services agreement, the Company provided certain post-closing accounting, tax, treasury, digital technology, supply chain, legal, customer service and human resource services on a transitional basis. As of September 2026, the Company is providing limited post-closing treasury services for a period ending no later than the third quarter of Fiscal 2027 and limited digital technology services for a period ending no later than the third quarter of Fiscal 2028.

13 VF Corporation Q2 FY27 Form 10-Q

Summarized Held-for-Sale Financial Information

The following table presents the assets and liabilities of Dickies at September 2025:

(a)The Dickies reporting unit goodwill was fully impaired as of the third quarter of Fiscal 2024, and accumulated impairment charges were $61.8 million.