All VF Corp articles – Page 5
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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 ...
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Article
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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Article
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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AnalysisMarket Analysis: The global athletic shoe market
The global market for athletic footwear enjoyed solid growth of 6.7 percent at the wholesale level last year, reaching a level of $70.9 billion, according to an annual analysis by Sporting Goods Intelligence of the major sports brands’ performance in this segment. It would have risen a little more without ...
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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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News briefs
WFSGI proposes task force for digitalization of product labels
In a letter to its members, the World Federation of the Sporting Goods Industry (WFSGI) has announced the creation of a “Digitization of Product Information” task force, co-chaired by Decathlon and VF Corporation and aiming to promote digital labelling and best practices within the sporting goods industry. On the basis ...
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Article
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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News briefs
VF creates a new role for Greater China
VF Corp. has announced that it will soon appoint its first president for Greater China, responsible for Mainland China, Hong Kong and Taiwan. The name of the executive appointed to this role will be unveiled later this summer. Other big sports companies like Adidas and Nike already make a distinction ...
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News briefs
More backing for “Black Lives Matter”
Doubling up on its “For once, don’t do it” message one week ago on Twitter to protest the murder on May 25 of George Floyd, Nike announced that it will donate $40 million over the next four years to “organizations focused on social justice, education and addressing racial inequality in ...
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News briefs
VF Corp. looks at virtual reality
VF Corp. is exploring virtual reality as part of its strong investments intending to become “hyperdigital.” Cemtrex has announced that it has received an order from VF to create a virtual reality (VR) application. The VR application, which is due to be delivered within the current quarter, aims to create ...
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Article
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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