$VFC (V.F. Corporation)

$VFC {{ '2016-08-29T11:40:48+0000' | timeago}} • Announcement

$VFC said it has completed the sale of its Contemporary Brands businesses to Delta Galil Industries. The brands included in the transaction are 7 for All Mankind, Splendid and Ella Moss. This follows the June 30, 2016, news release in which $VFC had entered into a definitive agreement with Delta Galil regarding the sale of these businesses.

$VFC {{ '2017-05-01T13:09:33+0000' | timeago}} • Announcement

$VFC closed the sale of its Licensed Sports Group (LSG) business to Fanatics, Inc. $VFC's LSG business, which includes the Majestic brand, supplies apparel and fanwear through licensing agreements with U.S. and international professional sports leagues and teams.

$VFC {{ '2017-04-28T18:45:27+0000' | timeago}} • Webcast

$VFC is not expecting any net wholesale growth in the US in the five-year plan. There will be growth but it will be choppy. There are chances for continued bankruptcies in the US market. The company believes its growth will come from direct to consumer, digital, and international wholesale over the next five years.

$VFC {{ '2017-04-28T18:17:52+0000' | timeago}} • Webcast

$VFC believes that in Europe, the largest acceleration in 2H17 will be in the Vans business. The company expects to see double digit positive order books in Europe for this business. In 2H17, the e-commerce business will also see good growth.

$VFC {{ '2017-04-28T18:17:19+0000' | timeago}} • Webcast

During 1Q17, $VFC saw some weakness in its Sportswear business. Excluding this, the company saw growth in its larger brands and its international business  along with its digital accounts in the mid-teens range.

$VFC {{ '2017-04-28T12:02:28+0000' | timeago}} • Announcement

$VFC's Board of Directors declared a quarterly dividend of $0.42 per share, payable on June 19, 2017 to shareholders of record on June 9, 2017.

$VFC {{ '2017-04-28T12:01:39+0000' | timeago}} • Announcement

For 2017, $VFC expects revenue to increase at a low single-digit percentage rate including about a 2% negative impact from changes in FX. EPS is expected to be down at a low single-digit percentage rate compared to 2016 adjusted EPS of $2.98. GM is expected to be 49.6% and operating margin is expected to approximate 14%.

$VFC {{ '2017-04-28T11:57:17+0000' | timeago}} • Announcement

$VFC reported a 20% decline in 1Q17 earnings. Net income was $209MM or $0.50 per share compared to $260MM or $0.61 per share in 1Q16. Revenue declined 2% to $2.6Bil compared to last year.

$VFC {{ '2017-04-20T13:12:37+0000' | timeago}} • Announcement

$VFC said Martin Schneider, VP & Chief Information Officer (CIO) will retire at the end of 2017. Sandra Harris, VP, Global Business Technology, will succeed Schneider as VP & CIO, effective Jan. 1, 2018. Harris also has been appointed to $VFC's Senior Leadership Team.

$VFC {{ '2017-04-04T16:21:42+0000' | timeago}} • Announcement

$VFC agreed to sell its Licensed Sports Group (LSG) business to Fanatics, Inc. for undisclosed terms. $VFC's LSG business includes the Majestic brand, which supplies apparel and fanware through licensing agreements with U.S. and international professional sports leagues and teams. The transaction is expected to close in 2Q17.

$VFC {{ '2017-02-17T14:44:05+0000' | timeago}} • Webcast

$VFC's international business is seeing solid growth and this is outpacing the economic growth rates in both Europe and Asia and the company sees this continuing into 2017 up high single digits. DtoC had a solid 4Q16 up 12% with ecommerce in particular seeing 20% plus growth. $VFC expects this trend to continue into 2017.

$VFC {{ '2017-02-17T14:29:58+0000' | timeago}} • Webcast

$VFC's top three brands are growing high single digits supported by the order books. The company will see some modest acceleration from the Jeanswear business in 2H17 as it works through the repositioning in 1H17 and the business returns to growth.

$VFC {{ '2017-02-17T14:21:21+0000' | timeago}} • Webcast

In 2017, $VFC expects Jeanswear revenue to be about flat with low single digit growth in Wrangler and Lee International. Imagewear revenue is expected to increase at a low single digit rate and Sportswear is expected to decline at a high single digit rate. International revenue is expected to grow at a high single digit rate, currency neutral.

$VFC {{ '2017-02-17T14:18:30+0000' | timeago}} • Webcast

For 2017, $VFC expects reported revenue to be up at a low single digit rate including about a 2% negative impact from FX. By coalition on a currency-neutral basis Outdoor& Action Sports is expected to increase at a mid single digit rate with Vans up low double digits, The North Face up mid single digits and Timberland up low single digits.

$VFC {{ '2017-02-17T14:04:25+0000' | timeago}} • Webcast

For 4Q16, $VFC’s Timberland brand global revenue increased at a mid single digit rate which was squarely in line with expectations. This result was driven by a low double digit increase in DtoC and a low single digit growth in wholesale. Revenue in the Americas increased at a low single digit rate.

$VFC {{ '2017-02-17T14:00:21+0000' | timeago}} • Webcast

During 4Q16, revenue for $VFC’s Vans brand grew 15% currency neutral. Vans Americas saw growth of 17% including more than 20% growth in DtoC and low single digit growth in wholesale. DtoC comps were up at a high teen rate including 40% growth in the ecommerce business. In Asia, revenue was up more than 25% currency neutral.

$VFC {{ '2017-02-17T13:52:50+0000' | timeago}} • Webcast

In 4Q16, global revenue for $VFC’s The North Face brand was down 7% currency neutral with a mid-teen increase in Direct-to-Consumer offset by more than a 20% decline in wholesale. In the Americas, revenue was down at low double-digit rate with a low double-digit DtoC growth offset by a 30% decline in wholesale.

$VFC {{ '2017-02-17T12:55:18+0000' | timeago}} • Announcement

$VFC's International revenue during 4Q16 was up 5%. Direct-to-consumer revenue rose 11% during the quarter, helped by a mid-teen increase in October & Action Sports business and a mid-teen increase in the international business.

$VFC {{ '2017-02-17T12:51:30+0000' | timeago}} • Announcement

During 4Q16, $VFC's revenue for Outdoor & Action sports was up 2% to $2.1Bil. Jeanswear revenue fell 5% to $697MM. Imagewear revenue during the quarter rose 15% YoY to $298MM. The company's sportswear revenue fell 17% to $162MM.

$VFC {{ '2017-02-17T12:47:12+0000' | timeago}} • Announcement

Apparel and accessories company $VFC reported 15% drop in its 4Q16 earnings, hurt due to lower operating income. Net income during the quarter fell to $264.3MM, or $0.63 per share, compared to $312.2MM, or $0.7 per share during 4Q15. Revenue was in line with 4Q15 at $3.3Bil. Excluding items, $VFC earned $0.97 per share, up 3%.

$VFC {{ '2017-02-15T13:19:30+0000' | timeago}} • Announcement

$VFC's BoD elected Carol Roberts and Benno Dorer as directors, effective Feb. 14, 2017. Roberts currently serves as SVP and CFO of $IP and she will retire from that position at the end of March. Dorer has been CEO of $CLX since November 2014 and was also named Chairman of the Board in August 2016.

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