V.F. Corp Stock Price, News & Analysis

Vans has reintroduced its "Foot the Bill" program to support independent small businesses amid the ongoing impact of COVID-19. Through this initiative, custom footwear and apparel featuring unique artwork from participating partners will be available for online purchase. Proceeds from sales will help these businesses navigate economic challenges. Last year, the program sold nearly 21,000 pairs and raised over $4 million. Vans plans to partner primarily with Black-owned businesses in February, highlighting their contributions to local communities.

Vans has launched the 2021 Vans Custom Culture competition, inviting high school students to create digital shoe designs under the themes "Hometown Pride" and "Head in the Clouds." Registration opened on January 4 and closes on January 29. The competition offers a grand prize of $50,000 for the winning school's art program, with runner-ups receiving $15,000. Notably, Vans will donate $500 per participating school to an environmental organization. The top designs will be voted on online from April 26, and the winners will be announced in May.

VF Corporation (NYSE: VFC) announced a transformation plan for its Asia Pacific operations, shifting its brand operations center from Hong Kong to Shanghai. This move aims to enhance relationships with Chinese consumers and boost capabilities. The Asia Product Supply Hub will relocate to Singapore, while a new shared services center will open in Kuala Lumpur. The transition will occur over 12 to 18 months, with initial moves starting in April 2021. This strategy supports VF's commitment to becoming a consumer-focused and digitally agile enterprise in a rapidly evolving market.

VF Corporation (NYSE: VFC) will release its third quarter fiscal 2021 financial results on January 27, 2021, at 6:55 a.m. ET. A conference call for results discussion will follow at 8:30 a.m. ET, available live at ir.vfc.com, with an archived version accessible later.

Founded in 1899, VF is a leading apparel company with brands like Vans, The North Face, Timberland, and Dickies, aiming to promote sustainable and active lifestyles while creating value for stakeholders.

VF Corporation (NYSE: VFC) has successfully acquired the global streetwear brand Supreme® for an aggregate base purchase price of $2.1 billion. As a wholly owned subsidiary, Supreme® is expected to contribute at least $500 million in revenue and $0.20 to adjusted EPS in fiscal 2022. This acquisition is part of VF's strategy to enhance its consumer-focused, digital-first business model, building on the existing collaborations between Supreme® and VF's brands like Vans® and The North Face®.

VF Corporation (NYSE: VFC) has been recognized by Working Mother Media as one of the 2020+ Top Companies for Executive Women. This accolade highlights VF's commitment to gender parity and the advancement of women in senior roles. Key data shows a 1% increase in women corporate executives to 31% and a notable decrease in female executives overseeing divisions worth over $1 billion to 30%. The report emphasizes the importance of measuring women in senior positions, underscoring the ongoing efforts for gender equality in corporate leadership.

VF Corporation (NYSE: VFC) announced a definitive merger agreement with streetwear brand Supreme^®. Current investors, The Carlyle Group and Goode Partners, are divesting their stakes. The merger is expected to close by late 2020, pending regulatory approval. VF aims to leverage Supreme^®'s unique brand identity and enhance its digital business model. CEO Steve Rendle emphasized the strategic alignment with VF's vision for growth, while Supreme^®'s founder, James Jebbia, will continue to lead the brand, ensuring its culture remains intact.

Vans announced the second-annual Vans Checkerboard Day, set for November 19, 2020, focusing on creativity's role in mental health. Following a global isolation period, Vans aims to raise awareness for mental well-being through creative expression. The brand will donate $1 million to 10 global charities supporting youth mental health initiatives. Events include a #VansCheckerboardDay TikTok challenge with brand ambassadors like Tony Hawk participating. Fans can also contribute by purchasing limited-edition merchandise, with proceeds aiding mental health charities.

VF Corporation (NYSE: VFC) announced its Q2 fiscal 2021 results, reporting a revenue drop of 18% to $2.6 billion due to COVID-19 impacts and store closures. The gross margin decreased by 340 basis points to 50.8%. Adjusted earnings per share were $0.67, down 55% year-over-year. However, VF raised its dividend to $0.49 per share, highlighting resilience with a return to growth expected in Q4. The company projects annual revenue of at least $9 billion, while adjusted free cash flow is expected to exceed $600 million.