All VF Corp articles – Page 4
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Infographics & DataDTC sales of five major sports brands for 2019, 2020
This exclusive interactive chart shows the DTC sales of Adidas, Nike, Under Armour, VF Corp. and Puma as a percentage of total net sales for the financial years 2019 and 2020. The chart can be downloaded. This is exclusive data and analysis for Premium Members.
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News briefs
VF divests its occupational workwear operations
Completing a divestiture process that began in January 2020, VF Corp. has sold the occupational workwear portion of its Work segment to a subsidiary of Redwood Capital Investments for a yet undisclosed price. The deal should be closed during VF’s present quarter, which ends on June 30. The group is ...
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News briefsVF Corp. appoints new CFO
Source: VF Corp. Matt Puckett VF Corp. has promoted Matt Puckett to the position of executive vice president and chief financial officer, reporting to VF’s CEO, Steve Rendle, and serving on the company’s executive leadership team. Puckett joined VF in 2001 as a senior accountant in the ...
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News briefs
Patent office finds Timberland’s iconic boot design too generic
The U.S. Patent Office’s Trademark Trial and Appeal Board denied a bid by VF Corp. to register the design of Timberland’s iconic Yellow Boot, concluding that it lacks sufficient acquired distinctiveness. The board noted that there was no evidence that competitors were trying to intentionally copy the boot’s trade dress, ...
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News briefsVF’s new fulfillment center for the U.K. begins operations
Working through a local subsidiary, VF Northern Europe, VF Corporation has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and apparel industry,” ...
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News briefsThe VF Foundation releases its first Impact Report
The VF Foundation, the philanthropic arm of VF Corp. established in 2004 and based in Denver, has released its first report detailing the positive impact that its financial grants and philanthropic partnerships have had on more than four million people in 53 countries over the past year. From April ...
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News briefs
VF Corp. named as one the World’s Most Ethical Companies
VF Corp. has been listed by Ethisphere among the “2021 World’s Most Ethical Companies.” VF has received this recognition for the fifth consecutive year, and is the only honoree in the apparel industry to be named this year. In 2021, 135 companies have been selected for their commitment to business ...
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News briefsVF Corp. allocates the proceeds from its Green Bond
VF Corp. has released its Green Bond Impact Report, in which it shows that the net proceeds of around €493 million from its inaugural Green Bond have been fully allocated to 13 of VF’s eligible sustainability projects worldwide, including 2 million trees planted, around 16,000 metric tons of CO² emissions ...
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ArticleVF wants more “equity” in its labor policy
In line with its Council to Advance Racial Equity (CARE) and Inclusion, Diversity, Equity and Action (IDEA) initiative, VF Corp. is implementing a number of new measures in its labor policy. “All VF employees will participate in a foundational inclusion and diversity learning journey to ensure they share a common ...
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News briefs
Moody’s downgrades VF
Completing its review of VF Corp.’s credit rating following its December acquisition of Supreme, Moody’s kept the company’s rating stable but lowered its senior unsecured debt and shelf ratings slightly. It confirmed its P-2 short-term commercial paper rating. Moody’s noted that VF’s financial leverage will remain high, predicting that its ...
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Article
VF Corp. wants to eliminate single-use plastic packaging by 2025
VF Corp. has announced new sustainable packaging goals, defined as “a critical component of VF’s global sustainability strategy” for its large portfolio of brands, which includes The North Face, Vans, Timberland, icebreaker and Eastpak, among others. The new targets revolve around the following four pillars : 1) Eliminate all single-use ...
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News briefsVF launches “Sustainable Solutions” digital media series
VF Corp. Is partnering with Pattrn, a sister brand of IBM’s Weather Channel, to launch a new digital media series that highlights its solutions to address climate change. The five-part series showcases the work happening across VF and its family of brands, including Vans, The North Face and Icebreaker, and ...
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Article
Europe helps drive VF’s momentum
After posting a loss for the first quarter of its financial year, ended June 30, VF Corp. bounced back in the second quarter, and the third fiscal quarter ended Dec. 31 confirmed this recovery, driven by Europe and China. The good progress, which was attributed to in part to investments ...
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News briefs
VF releases "product traceability maps"
VF Corp. has made single files available for download to trace the supply chain for certain products through the last four of its five tiers. Each file goes from the finished product assembly stage (tier one) back through material production, raw material processing and raw material conversion (tier four), with ...
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Article
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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News briefsVF completes the acquisition of Supreme
VF Corp. reports that it has completed its previously announced takeover of Supreme®, the iconic American streetwear brand, for an aggregate base purchase price of $2.1 billion. The final price will be subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. VF expects the brand to ...
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News briefs
S&P downgrades VF on Supreme’s acquisition
Standard & Poor’s has downgraded VF Corp., citing the high debt/Ebitda leverage of more than three times that will result from its planned $2.1 billion acquisition of Supreme. S&P thinks that a leverage of more than two times will persist at least until the fiscal year ending in March 2023, ...
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News briefs
VF signs the UN Global Compact, commits to women’s empowerment
VF Corp. is a new signatory of the United Nations Global Compact (UNGC). The company has also endorsed the UN’s Women’s Empowerment Principles. The UNGC’s ten principles boil down to the upholding of “internationally proclaimed human rights,” freedom of association and collective bargaining for labor, the rejection of forced, compulsory ...
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News briefs
Schmidt-Eisenhart will be Calida’s new CEO
The board of directors of the Swiss Calida Group, which is about to take full ownership of the Lafuma Group with its outdoor brands Millet and Lafuma, has appointed Timo Schmidt-Eisenhart, a veran of Nike and VF Corp. as its chief executive. He will succeed Reiner Pichler in the first ...
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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 ...
