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VF Corp. Launches Operations At New Ontario, CA Distribution Center

June 6, 2023 SGB Update

VF Corp. started operations at its new distribution center in Ontario, CA, employing approximately 550 people during peak periods. The company said the new 1.2 million-square-foot facility is the largest and most efficient within its global network of 46 distribution centers.

EXEC: VF Sees Weak Vans, Timberland Offset Strong TNF In Mostly Flat Q4

May 24, 2023 SGB Executive

VFC delivered revenue and profit in line with guidance for the fiscal fourth quarter and grew full-year revenue 3 percent in constant-currency terms in fiscal 2024, with 10 out of the company’s 12 global brands flat or growing revenue for the year – and five of those brands delivering double-digit growth.

VF’s Fiscal Q4 Revenues Dragged Down By Vans And Americas Region Declines

May 23, 2023 SGB Update

VF Corp. reported sales were down 3 percent in the fiscal fourth quarter ended April 1, dragged down by a 14 percent decline at Vans and a 7 percent overall decline in the Americas region. The North Face’s sales grew 12 percent globally. Earnings were down 62 percent on an adjusted basis but in line with guidance.

EXEC: VF Scores Upgrade From Goldman Sachs

April 15, 2023 SGB Executive

Goldman Sachs upgraded its stock rating on VF Corp. to “Buy” from “Sell” as the investment firm believes strategic actions, including overhauling Vans’ management team, have improved VF’s outlook for profitability.

VF Corp. Realigns Leadership At Dickies, Altra, Smartwool, And Icebreaker

April 6, 2023 SGB Update

VF Corp. announced key leadership appointments at its Dickies, Altra, Smartwool, and Icebreaker brands, effective immediately.

VF Corp. Closes Second €500 Million Green Bond

March 7, 2023 SGB Update

VF Corporation has closed on a €500 million green bond offering, representing its second green bond issued. The inaugural green bond was issued in 2020.

VF Prices €1 Billion Of Senior Notes To Fund Sustainable Development Goals

February 24, 2023 SGB Update

On the heels of a Moody’s Investors Service downgrade in the debt ratings of VF Corporation, the active lifestyle company has priced €500 million aggregate principal amount of unsecured senior notes due 2026

VF Corp’s Debt Ratings Lowered

February 20, 2023 SGB Update

Moody’s Investors Service downgraded the debt ratings of VF Corp. due to the company’s currently high leverage resulting from underperformance in its largest and most profitable brand, Vans, as well as large customer inventory destocking at Dickies, a slower-than-expected recovery in China, and elevated inventory levels that are leading to higher promotional sales activity and reduced margins.

Jansport Divesture Plan Confirmed By VF Corp. Management

February 8, 2023 SGB Executive

VF Corp. management confirmed on a Tuesday conference call with analysts that the company began a review of strategic alternatives for its global packs business. SGB Media previously reported speculation regarding the divestment of the Jansport brand this past December.

Vans Brand To See Major Focus And Investment From Parent VF Corp.

February 8, 2023 SGB Executive

Vans brand revenue fell 13 percent (-9 percent in constant dollars) to $927 million in the fiscal third quarter ended December 31, reflecting positive performances in Europe and Asia outside of Greater China, while the Americas remained problematic.

EXEC: TNF Posts Strong Fiscal Q3 Results But Vans, Supply Chain A Drag On VF Corp.

February 7, 2023 SGB Executive

VF Corporation posted a 3 percent decline in revenues in the fiscal third quarter ended December 31, with currency fluctuations impacting results by six percentage points to the negative. The “big four brands” were down 3 percent, or up 2 percent in constant dollars, and the balance of the portfolio was down 2 percent, or up 5 percent in constant dollars.