The Company incurs restructuring charges related to strategic initiatives and cost optimization of business activities. A description of significant restructuring programs and other restructuring charges is provided below.

On October 30, 2023, VF introduced Reinvent, a transformation program to enhance focus on brand-building and to improve operating performance and allow VF to achieve its full potential. All actions related to the program were substantially complete at the end of the first quarter of Fiscal 2026. However, in the three months ended June 2026, VF recorded a gain of $17.6 million and an impairment charge of $6.4 million related to the sale of a distribution center and an impairment of a leased distribution center, respectively. These amounts are included in

Reinvent as the actions leading to the gain and the impairment charge were initiated under Reinvent. Of the total Reinvent restructuring charges, 76% related to severance and employee-related benefits and the remainder primarily related to asset impairments and write-downs. Cash payments are generally expected to be paid within one year of charges incurred. During the three months ended June 2026, $1.8 million of cash payments related to the Reinvent charges were made.

The type of cost and respective location of restructuring charges related to Reinvent within VF’s Consolidated Statements of Operations for the three months ended June 2026 and 2025, and the cumulative charges recorded since the inception of Reinvent were as follows:


		Three Months Ended June					Cumulative Charges

(In thousands)			2026		2025
Type of Cost	Location
Severance and employee-related benefits	SG&A expenses		$	—	$	11,248		$	138,040
Severance and employee-related benefits	Cost of goods sold		—		4,225			10,003
Contract termination and other	SG&A expenses		—		326			1,063
Contract termination and other	Cost of goods sold		—		—			157
Asset impairments and write-downs	SG&A expenses		6,397		2,200			56,736
Gain on the sale of fixed assets	SG&A expenses		(17,600)		—			(17,600)
Pension withdrawal	SG&A expenses		—		—			5,216

Curtailment gains	Other income (expense), net		—		(531)			(1,467)
Accelerated depreciation	SG&A expenses		—		—			1,317
Accelerated depreciation	Cost of goods sold		—		—			339
Total Reinvent Restructuring Charges			$	(11,203)	$	17,468		$	193,804

Other Restructuring Charges are related to various approved initiatives. The type of cost and respective location of Other Restructuring Charges within VF’s Consolidated Statements of Operations for the three months ended June 2026 and 2025 were as follows:


		Three Months Ended June

(In thousands)		2026		2025
Type of Cost	Location
Severance and employee-related benefits	SG&A expenses	$	2,363	$	—
Severance and employee-related benefits	Cost of goods sold	45		—


Total Other Restructuring Charges		$	2,408	$	—


(In thousands)	Severance
Accrual at March 2026	$	31,042
Restructuring charges	2,408
Cash payments and settlements	(4,909)
Adjustments to accruals	(862)
Impact of foreign currency	46
Accrual at June 2026	$	27,725

Of the total restructuring accrual at June 2026, $26.6 million is expected to be paid within the next 12 months and is classified within accrued liabilities. The remaining $1.1 million will be paid out beyond the next 12 months and thus is classified within other liabilities. During the three months ended June 2026, VF recorded adjustments to prior Reinvent accruals to reflect actual attrition rates that differed from original estimates.