Latest Developments VF Corp – Page 3
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VF reorganizes APAC operations
VF Corp. has decided to move the center of its brands’ operations in the Asia-Pacific region from Hong Kong to Shanghai, where it already has some 900 office and retail employees. Some of the operations will also be transferred to Singapore and Kuala Lumpur, the capital of Malaysia. The transition ...
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ArticleVF acquires Supreme
VF Corp. has announced a definitive agreement to acquire Supreme, a young and cool American streetwear brand that has become an iconic symbol of a countercultural approach to fashion. Details have yet to be finalized, but the $2.1 billion transaction is expected to close before the end of 2020. Investors ...
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VF wants to be more agile and digital
After releasing VF Corporation’s figures for the second quarter ended on Sept. 30, the group’s management said it felt that the worst of the Covid-19 crisis is over by now, but pointed out that the crisis will be prolonged, that the situation is going to be “volatile,” and that the ...
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ArticleVF goes back into the black
After recording a loss and steep declines in revenues during its first fiscal quarter, VF Corp. bounced back in the second quarter, ended on Sept. 26, with a smaller decline in sales and a return to profits. The management said that year-to-date results have surpassed its expectations across all brands, ...
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Reorganizing the top management, VF names Steve Murray president of TNF
VF Corporation is changing its management structure to suit changes in the way it does business, notably by dividing its brand portfolio into Core Brands and Emerging Brands and by getting them to be managed differently to help them achieve their full potential. Until now, the operations of its three ...
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ArticleMarket Analysis: The sports apparel market
We show you who are the winners and losers in the market.
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ArticleVF expects some improvement in the second quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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Facebook boycott gains ground in the sports sector
Big sports brands like Adidas, Arc’teryx, Lululemon, Puma and Reebok have joined many others in the last few days in boycotting Facebook in response to a call by six civil rights group to stop advertising on the leading social network in order to prompt it to ban fake news and ...
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VF claims it can hike through the Covid storm easily
In releasing its financial results for the fourth quarter ended on March 31, the management of VF Corp. insisted that the company is in a better position than some of its competitors to navigate through the “storm” caused by the coronavirus pandemic for several reasons, including good liquidity, a flexible ...
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VF lowers its outlook, refinances
While releasing new financial data and targets and announcing new measures to refinance itself, VF Corporation indicates that it wants to acquire more fast-growing action brands like Altra or Icebreaker and become more “vertical,” boosting a direct-to-consumer (DTC) business that has come to represent 39 percent of its turnover.
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Columbia and VF executives cut their paychecks
Without going as far as Tim Boyle at Columbia Sportswear, Jim Rendle, chairman, president and chief executive of VF Corp., has pledged to cut his compensation in half for the next four months to help save cash for the fight against the coronavirus outbreak. Boyle, president and CEO of Columbia, ...
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ArticleCoronavirus depresses Adidas’ and others’ sales in China
COVID-19 or the novel cronavirus, as the virus is now named, has already infected more than 79,000 people in 30 countries around the world, according to the World Health Organization, but it remains largely concentrated in China. While it has been expanding at a slower rate recently in the country, ...
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VF lowers its outlook
In releasing its results for its third quarter ended on Dec. 28 on Thursday, VF Corporation said its business so far this year has performed at the high end of its group’s long-term growth objectives, but the management admitted that it will not be able to meet the targets it ...
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The North Face and Vans drive VF’s results
Despite strong earnings and robust sales, VF Corp. posted results in the latest quarter that missed Wall Street’s expectations. Total sales improved by 5 percent to $3,393 million for the company’s second fiscal quarter ended on Sept. 30, or by 7 percent in constant currencies. Adjusted to exclude the spin-off ...
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Brunswick sells Life Fitness to a PE firm
Unlike VF Corp., which has spun off its jeans business into a new company owned by its shareholders, Brunwick Corp. has chosen the alternative of a straight sale of its fitness division to a New York-based private equity firm, KPS Capital Partners, for about $490 million in cash, following the ...
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Authentic Brands Group buys Volcom
Following Kering's separation from Puma and Stella McCartney, the French group led by François-Henri Pinault has now also sold Volcom, completing the disposal of all its sports and lifestyle brands. Kering, which had already indicated its intentional to divest the Californian surf, skate and snowboard label a year ago, has ...
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Former Prince chief runs a new start-up: Slinger Bag
Slinger Bag is a rather revolutionary, patented product that is expected to help stimulate the largely static level of participation in tennis around the world. It is described as “your 24/7 tennis partner” and as the most versatile portable launcher of tennis balls in the market, allowing individuals to practice ...
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Polartec is in good shape ahead of its sale
While confirming reports that their company is up for sale, officials of Polartec feel confident that it has the right products for the market, following a series of strategic moves taken in the past few years, as shown in part by the awards that it has recently won. The new ...
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Altra picks up speed in Europe
The demand for the American brand of running shoes has been picking up strongly in Europe following its acquisition in June 2014 by VF Corp., which is integrating it with its other sales and marketing operations in the region. As before, when it was owned by Icon Health & Fitness, ...
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Major sports retailers grow twice as fast as the world market
The 64 largest sporting goods specialty retail chains in the world raised their sales by 10 percent in local currencies as well as in dollars in 2017, according to an annual survey by Sporting Goods Intelligence, in spite of the strong growth of the generalist internet operators in this and ...
