According to Bloomberg citing „people with knowledge of the matter,” VF Corp is considering selling the JanSport backpack and adventure luggage brand. There are no details of a potential investor revealed whatsoever. Shares of VF, the owner company of The North Face (TNF), Vans and Timberland brands, have dropped by 64 percent this year. A transaction may value Jansport at about $500 million. However, according to Bloomberg, there is no final decision yet if VF will sell the unit or may decide to keep it. The news of a potential sale comes after VF Corp. shares fell 11 percent on Dec. 5 after the apparel and footwear maker announced the resignation of its CEO Steve Rendle and lowered its 2023 outlook (as reported in OIC here). Full-year adjusted diluted earnings per share are now expected to be $2.00 to $2.20, compared to $3.18 last year and compared to the previous outlook of $2.40 to $2.50. The U.S. company now expects sales growth in the second half of fiscal 2023 to be slightly lower than previously announced.

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