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ArticleFootwear stocks treaded water in a quarter marked by shareholder activism
The prices of stocks monitored by Shoe Intelligence grew by 1.3 percent on average in the first quarter of 2024, compared with the previous three months, in very volatile trade. The quarter was marked by shareholder activism. Tabor Asset Management, a US investment company that has a 1.1 percent stake ...
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ArticleVF expands its partnership with GMG
VF Corp. is expanding its partnership with the retail conglomerate GMG in order to grow in the Middle East and North Africa (MENA) and South East Asia (SEA) regions. The US group, whose portfolio includes the brands Vans, The North Face and Timberland, has been collaborating with the Dubai-based retail ...
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ArticleVF to extend its board in agreement with Engaged Capital
VF Corporation has appointed Caroline Brown to its board in agreement with its shareholder Engaged Capital. The activist investor has been pushing for an aggressive turnaround for the US apparel and footwear company. ”This appointment follows constructive engagement with VF’s shareholders, including Engaged Capital, LLC. VF also intends to ...
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ArticleVF starts a strategic review of its assets
VF Corp., whose current portfolio includes The North Face, Vans, Timberland and Dickies, has initiated a strategic review of its brand assets. The announcement comes after the company’s shareholder Engaged Capital made in October a presentation “highlighting the actionable and significant opportunities for long-term value creation at the company.” According ...
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The cyberattack on VF may affect about 35.5 mln clients
VF Corp. said that data from about 35.5 million of its customers was stolen in a cyberattack on the Dec. 13. The parent company of The North Face, Vans and Timberland further stated that it does not store sensitive customer data such as SSN, bank or payment card details ...
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VF confirms Nina Flood as global brand president for Timberland
VF Corp. has confirmed Nina Flood as the global brand president for Timberland. Flood had replaced Susie Mulder on an interim basis in November. Mulder had been Timberland’s global brand president since April 2021 and left VF to become chief operating officer at Nobull, a training footwear and apparel brand. ...
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PDF NewsletterShoe Intelligence Executive Edition: Vol. 25 - 21+22
Italy shoe making is attracting investments but faces labor constraints | First Italian companies ready for ESG certification under trade association’s aegis | How Serafini is relaunching itself after exiting creditor protection | Hermès could consider investments in Italian shoe, fashion suppliers | Prada’s footwear sales slow down sharply in Q3 | Ferragamo misses sales expecations in Q3 | Nice Footwear FY sales up 43.1% | Salamander and Klauser find a new owner | Deichmann names a new head of brand & licensing and ends the Onygo brand | ANWR and Sabu maintain their trade fair pattern “for the time being” | Shoe Zone’s FY revenues rise 6.1% | FitFlop picks Bleckmann as its logistics partner | Frasers to acquire SportScheck in Germany | CCC Group posts softer sales in Q3 led by the CCC and eobuwie banners | Russia mulls creating footwear clusters to boost local production | Skechers raises full-year earnings guidance as DTC continues to bolster Q3 sales gains | Skechers wins EU-wide injuction against Dockers by Gerli | Deckers raises full-year guidance again, plans to divest Sanuk | Caleres to leverage lead brands to resume growth in 2024 after September sales disappoint | VF drops guidance, launches turnaround plan | Crocs taking steps to reset Heydude business | Rocky Brands margins, profits rise in Q3 despite 15% sales decline | Boot Barn cuts guidance as sales continue to soften through October | Aldo in licensing agreement with ABG’s Roxy brand | World Shoe opens a shoe factory in Ghana | Brazilian shoemakers are relying on domestic demand to grow | Stella benefits from demand for premium categories | The Chinese brand Zuliz opens its first store abroad | Zalando cuts its full-year guidance for GMV, revenues | Spartoo’s H1 sales decline but earnings improve | Primark expected to grow sales and earnings in 2024
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ArticleVF drops guidance, launches turnaround plan
Admitting its U.S. business “isn’t working well” and its cost structure is too high, VF Corp. reported its second-quarter results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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Timberland opens its first concept store in Japan
Timberland has opened its first concept store in Japan, in Tokyo’s Daikanyama neighborhood. The store offers footwear, limited-edition items and products created in collaboration with both domestic and international brands and artists, as well as the Japan-only premium line, Timberland +81 3. “With the launch of the Timberland +81 ...
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A second activist investor targets VF
Los Angeles-based Legion Partners, has acquired an undisclosed stake in VF Corp. and wants the group to divest brands such as Timberland, Bloomberg reported, citing sources familiar with the matter. Previously, the California-based activist investor Engaged Capital outlined that VF is suffering from bloated overhead that is driving down shareholder ...
