VF Corp's
CEO Eric Wiseman, speaking Friday at Reuters Global Retail Summit in London, said he has seen its U.S. markets “stabilize”
but he does not expect a return to growth in 2009.

“The
apparel (wholesale) business and the stores that we sell (in), things seem to
be stabilising,” said Wiseman, according to a report on Reuters.. “They're
not stabilizing at a great place but compared to December, January and
February, when week after week it looked a little bleaker, it's stable.”

Wiseman
said VF had also seen some of its markets in Europe
bottom out.

“I
don't think most of Western Europe is any better or worse than the U.S., it feels
like it's stabilising here some too,” he said.

But Wiseman
does not expect any of VF's markets to return to growth in 2009.

“We
are assuming that there is no recovery this year for sure,” he said.

Regarding
the 2010 outlook, the CEO said, “We will not be assuming that there's an
enormous recovery that lifts our performance. That assumption is off the table.
Whether there's any improvement in 2010, and when you assume it, is the
discussions we're having now.”

Wiseman
said VF Corp continues to explore acquisitions, with the recession having created
“lots of opportunities”, and was having “a lot of
discussions”.

“Our
priorities are outdoor, action sports and contemporary, (brands), that's where
we would most like to expand our portfolio,” he said.

VF's brands include The North Face, Vans, Reef, Majestic Athletic, Jansport, Eastpack and Lucy.