Latest Developments VF Corp – Page 4
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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 ...
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Dakine finds new brand owners
Marquee Brands, a brand management company whose portfolio includes names such as Bruno Magli, Ben Sherman and Body Glove, has acquired the Dakine brand and the related intellectual property. It has also entered into a long-term license agreement with JR286, a product design company based in California that has acquired ...
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New calls for an end to discrimination in the U.S.
Taking their cues from their peers at Nike, who led to the dismissal of Trevor Edwards and other high-ranking executives earlier this year, some employees of Adidas and Under Armour in the U.S. have called for better treatment of women, ethnic minorities and people of color in the last few ...
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A new European chief for TNF
VF Corp. has appointed Jan van Leeuwen as the new European chief of The North Face. He is taking the place of Kate Smith, who left in July after 16 successful months working in European sales for the brand. Most recently, Van Leeuwen held a similar position at Vans, which ...
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Vans is still driving VF Corp’s growth
The Vans brand continues to lift VF Corporation's results. The brand's sales for the three months ended March 31 jumped by 45 percent in dollars and by 39 percent in local currencies, with balanced growth across regions and channels. In reported dollars, Vans' turnover was up by 53 percent from ...
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Boardriders outlines its new management structure
Without waiting for the formal closing of its acquisition of Billabong International, which took place as planned on April 24, Boardriders announced the establishment of a new leadership team that includes existing managers from the two groups and two external recruits. It does not include Neil Fiske, the former chief ...
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Steve Murray goes back to VF Corporation
Shortly after announcing the acquisition of Altra, VF Corp. said that Steve Murray is returning to the group in the new position of vice president in charge of strategic projects. One of his tasks will be to develop the footwear product strategy of The North Face and to support the ...
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Vans’ ongoing strength drives VF Corp.
The Vans brand finished the year with an impressive rise in demand, as its sales surged by 35 percent in constant currencies in the last quarter, with ample double-digit rate increases in all geographic areas.The action sports brand's turnover was up by 31 percent in Europe, the Middle East and Africa ...
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Industry stocks jump by 19.3%
After a relatively flat performance in 2016, the stock market capitalization of the sporting goods sector rose by 19.3 percent in terms of local currencies in the course of 2017, in tune with a generally buoyant trend in the stock exchanges. In dollars, the total market capitalization of the 81 ...
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VF Corp. launches a new sustainability and CSR strategy
The owner of The North Face, Timberland and other brands has announced its new global sustainability and responsibility strategy, called “Made for Change.” The strategy was announced in conjunction with VF's Sustainability and Responsibility Performance Report, on Dec. 11. The new strategy commits VF Corp. to reduce its global environmental ...
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VF buys Icebreaker
VF Corp. has announced a definitive agreement for the takeover of Icebreaker Holdings, the merino wool apparel specialist from New Zealand. The transaction should be completed early next year. The price of the acquisition has not been disclosed, but VF said that it will be immediately accretive.Icebreaker will nicely complement ...
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Vans strides ahead
There were no signs of a slowdown in the third quarter for the Vans brand, which delivered a 26 percent sales increase in constant currencies and led the growth of the outdoor and action sports division at VF Corp.The performance encouraged VF to raise its forecast again for this full ...
