All articles tagged with #vf corp
Italian eyewear manufacturer EssilorLuxottica is acquiring streetwear brand Supreme for $1.5 billion from VF Corp, which bought it for $2.1 billion in 2020. The sale reflects limited synergies between Supreme and VF Corp's other brands, and comes as Supreme's popularity has waned. EssilorLuxottica sees the acquisition as a way to connect with new audiences and expand its portfolio.
Activist investor Engaged Capital is seeking board seats at apparel maker VF Corp, with support reportedly coming from an heir of the founding family of VF. The investor aims to make changes to VF Corp's board, with the backing of the family, which holds about 15% of the company. VF Corp's CEO has been making changes following earnings misses, including evaluating options for their packs business and buying shares to show confidence in the company's path.
Stocks such as New York Community Bancorp, Diamondback Energy, and VF Corp are experiencing significant midday market movements.
Activist investor Engaged Capital, with the support of the founding family of VF Corp, is pushing for board seats and faster change at the struggling owner of North Face, Vans, and Timberland brands. The Barbey family, which collectively owns about 15% of VF, wants two directors on VF's board replaced, blaming them for failing to respond to the company's challenges. VF shares have lost 42% of their value in the last 12 months, and Engaged Capital has been pressing for changes, including cost-cutting and exploring strategic alternatives. VF recently announced some changes and missed analysts' expectations in its third-quarter results.
VF Corp (VFC) stock surged 11.8% after activist investor Engaged Capital gained support from VF Corp's founding family in its push for board seats and faster changes at the company. The move comes as Engaged Capital has influenced cost-cutting measures and strategic reviews at VF Corp and identified director candidates with retail and turnaround expertise. The market's perception of the business was significantly impacted by this news, with VF Corp's shares showing volatility. Despite a weaker quarter and a 7.2% decline since the beginning of the year, the stock's recent surge reflects investor optimism following the activist investor's involvement.
Activist investor Engaged Capital, with the support of the founding family of VF Corp, is pushing for board seats and faster change at the struggling owner of brands like North Face and Vans. The Barbey family, which collectively owns about 15% of VF, wants two directors on VF's board replaced, blaming them for failing to respond to the company's challenges. VF shares have lost 42% of their value in the last 12 months, and Engaged Capital has been pressing for changes, including cost-cutting and exploring strategic alternatives. CEO Bracken Darrell is leading a turnaround effort, while another activist hedge fund, Legion Partners Asset Management, has also amassed a stake in VF.
VF Corporation, the owner of popular brands like Vans, The North Face, and Timberland, has disclosed a ransomware attack that occurred on December 13, 2023. The attack resulted in operational disruptions, with some IT systems being encrypted and personal data being stolen. While the impact on physical retail stores is expected to be minimal, customers may experience delays in online order fulfillment. VF Corp is working to bring affected systems back online and assess the full extent of the breach's impact on its financials and operations.
VF Corporation, the owner of popular apparel brands including Vans and Supreme, has confirmed a cyberattack that disrupted its operations and resulted in the theft of personal data. The attack, suspected to be a ransomware incident, has impacted the company's ability to fulfill orders ahead of the holiday season. VF Corp has not disclosed the extent of the breach, including the number of affected individuals or whether a ransom demand was made. The company's retail stores remain open, but online orders are experiencing delays. The full impact of the incident is still being investigated.
Shares of VF Corp., the owner of brands like The North Face and Vans, dropped over 7% after the company disclosed a cyberattack that has impacted its ability to fulfill orders ahead of the holiday season. The attack, which involved hackers encrypting some systems and stealing personal data, is suspected to be a ransomware incident. VF Corp. has not confirmed whether a ransom was demanded. The breach is expected to have a material impact on the company's operations until recovery efforts are complete. The incident was reported on the same day that new SEC cyber disclosure rules came into effect, requiring companies to report "material cybersecurity incidents" within four days of determining their impact on financials.
VF Corp, the owner of clothing brands including the North Face and Vans, has been hit by a cyberattack that disrupted its ability to fulfill orders ahead of Christmas. The attack encrypted some IT systems and stole data, including personal information. While portions of the company's IT systems are operational, VF Corp is still experiencing operational disruptions, including delays in order fulfillment. The company is working with cybersecurity experts and law enforcement to mitigate the impact, but warns that the cyberattack will have a material impact on its business until resolved. Shares of VF Corp were down nearly 6% in early trading.
U.S. stocks rose on Monday, extending the winning streak to seven weeks, but gains were limited due to comments from Federal Reserve officials about the timing of interest rate cuts. Some of the stocks that moved the most today include U.S. Steel, Adobe, FuelCell, VF Corp, NIO, Illumina, and Affirm.
VF Corp. has reported a cybersecurity breach in its systems that is expected to have a material impact on its business operations. The breach, which occurred on December 13, has disrupted the company's ability to fulfill online orders and resulted in the theft of personal data. VF Corp. is still assessing the potential financial impact of the incident. The company's stock fell 5.1% in premarket trading following the announcement.
VF Corp, the owner of North Face, has laid off approximately 500 salaried employees as part of its new transformation plan aimed at cost cutting and debt reduction. The company has been working to turn its business around amidst declining sales in North America, particularly at its Vans brand, and has faced pressure from activist investor groups to divest some brands and reduce debt. VF Corp also owns Timberland, Dickies, JanSport, and Supreme, among other labels.
VF Corp, the parent company of Vans, reported a 23% decline in Vans' revenue in Q2 2024, with slow sell-through rates and weak direct-to-consumer sales. VF Corp CEO, Bracken Darrell, stated that Vans will not see a turnaround this year, but emphasized the brand's popularity among consumers. The company is implementing a strategic business transformation plan, including the search for a new Vans president and reevaluating distribution strategies. VF Corp pulled its guidance for fiscal year 2024 due to the longer-than-expected turnaround timeline.
VF Corp's new CEO, Bracken Darrell, discussed his plans to improve the company's business, including a focus on turning around the declining sales of its popular brand, Vans. Darrell emphasized the need to make the US business as popular as it is abroad, lower the cost base, reinvest in innovation and brand building, and reduce debt. He acknowledged that Vans had lost sight of its original target audience and aims to reconnect with the skater community and appeal to the mischievous and fun side of consumers. VF Corp recently withdrew its full-year revenue and profit forecasts after experiencing an 11% decline in US sales during the second quarter.