All VF Corp. articles – Page 2
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Article
The stocks of former IPO stars Allbirds and Dr. Martens continue their freefall in Q1
The prices of stocks monitored by Shoe Intelligence rebounded by about 5 percent overall in the first quarter of 2023 compared with the previous three months driven by some key clusters such as large U.S. footwear companies, online retailers and luxury goods groups. However, both Allbirds and Dr. Martens, previously ...
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News briefs
VF issues €1bn in unsecured senior notes
VF Corporation is issuing unsecured senior notes, whose proceeds will be used to finance general corporate purposes, including the repayment of borrowings under its commercial paper program. The U.S. company has priced €500 million of unsecured senior notes due 2026 at 99.704 percent of the principal amount with a coupon ...
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Article
VF takes action to improve performance, divesting pack brands
VF Corp. is vowing to take all necessary actions to improve its operating performance heading into its FY24
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News briefs
Timberland has new head for the EMEA region
VF Corporation has announced new appointments to its leadership team in the EMEA region, including for the Timberland brand, effective Jan. 31. Nina Flood, the current president VF Global Packs (Eastpak, JanSport, and Kipling), is to be the new general manager of Timberland EMEA. She succeeds Mariano Alonso, who is ...
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News briefs
Vans and Timberland launch a joint capsule collection
VF’s brands Vans and Timberland have teamed up to design a capsule collection together for the first time. Celebrating the 30th anniversary of Vans’ iconic Half Cab, the two brands offer a brand new style based on Vans’ iconic model first released in 1992 and Timberland’s Euro Hiker boot, created ...
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VF's CEO steps down
VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board since 2009, will serve as interim chairman of the board. Dorer’s appointment follows Steve Rendle’s decision ...
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Article
VF braces for weaker consumer environment, lowers FY outlook
VF Corp is maintaining its full-year revenue growth guidance of 5-6 percent, citing its balanced portfolio and a building recovery in China as two examples, but has lowered expectations on some key financial metrics due to currency headwinds, higher inventory levels and a more promotional environment. The North Face parent ...
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VF Corp. maps out growth strategy, trims FY23 outlook
VF Corp., which counts a dozen brands in its portfolio, is targeting a five-year compounded annual revenue growth rate in the mid-to high single digits, earnings per share expansion of high single to low double digits and an operating margin of approximately 15 percent by FY27. The U.S. parent of ...
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News briefs
VF cutting 600 jobs
VF Corp. the Denver-based company that owns brands such as The North Face, Timberland, Smartwool, Altra, Icebreaker and Vans, is cutting 600 jobs worldwide, the Denver Business Journal reported, citing a letter sent by the president and CEO, Steve Rendle, to employees. VF is axing 600 office-based roles, which will ...
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Article
VF suffers quarterly loss, but EMEA is strongest region
VF Corp. reported a first-quarter loss, related mainly to a $92 million non-cash pension charge. Still, the EMEA region, The North Face and Timberland were the strongest performers for the company in the period ended June 30. In the face of expected currency headwinds, the company is maintaining its fiscal ...
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News briefs
Timberland renews eyewear agreement with Marcolin
Timberland, the footwear brand owned by VF Corp, has renewed until December 2026 its license agreement with the Italian eyewear manufacturer Marcolin. The companies have worked together since 2003. Under the agreement, Marcolin oversees the design, production and global distribution of sunglasses and optical frames with the Timberland name. At ...
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Article
Vans posts no sales growth in Q4
VF Corp reported a revenue increase of 9 percent to $2.8 billion (€2.65bn) in the fiscal fourth quarter ended April 2, although sales at Vans were flat during the period at $991 million (€938m). Group sales were boosted by a 15 percent increase in the EMEA region and 12 percent ...
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Article
VF Foundation releases latest social impact report
In its second impact report, the VF Foundation, the philanthropic arm of VF Corp., reveals details of its humanitarian and community engagement, reaching out to more than three million people in 73 countries during the period between March 29, 2020, to April 3, 2021. Within the 12 months relevant ...
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News briefs
VF veteran Kevin Bailey back at Vans as global brand president
VF Corp. has appointed Kevin Bailey to the position of global brand president of Vans. Bailey will continue to report to VF chairman, president and CEO Steve Rendle and will serve on the company’s executive leadership team. With this appointment, Bailey returns within the group to the Vans brand after ...
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Article
VF Corp. cuts sales guidance after a good quarter
VF Corp. - the owner of brands including Vans, The North Face and Timberland - cut its sales guidance for the financial year ending in March 2022 to $11.85 billion from a previous $12.0 billion, as it once again lowered the forecast for its Active segment while increasing that for ...
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News briefs
VF makes new CSR pledges
VF Corp’s fourth sustainability and responsibility report says the group will achieve zero waste verification at all its warehouses and distribution centers by the end of this year, compared with 72 percent at present. This would mean that at least 95 percent of their waste will be diverted from landfills. ...
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News briefs
VF appoints new investor relations head
VF Corp. has appointed Allegra Perry to the position of vice president, investor relations, effective Jan. 2022. She will report to VF’s chief financial officer, Matt Puckett, and work closely with the group’s executive leadership team and executives across the company’s 12 brands, including The North Face, Timberland, Vans and ...
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Article
VF raises FY outlook although supply chain strains cap Q2 sales growth
VF Corp. improved its guidance for this year’s revenues to $12.0 billion from $11.8 billion despite an operating environment that was more challenging than expected in the second quarter. The overall quarterly revenues of the group - which owns brands such as Vans, The North Face, Timberland, Icebreaker, Smartwool and ...
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News briefs
VF and WaterAid partner to vaccinate Cambodians
In an effort to protect workers’ health and keep the supply chain steady, VF is supporting the distribution of Covid-19 vaccines in Cambodia. VF’s Worker and Community Development program, partnering with the nonprofit WaterAid to support the rollout of the Cambodian government’s Covid-19 response plan. More than 20,000 factory workers ...
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News briefs
VF board member steps down, reportedly over her views on Black Lives Matter
VF Corp. announced that Veronica Wuu has decided to step down as one of the 12 members of the group’s board of directors, pointing out that this was not the result of any disagreement on any matter relating to VF’s operations, policies or practices. Wuu had joined the board in ...
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