VFC VF

VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, Work and Jeans. The Outdoor segment refers to outdoor and activity-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories. The Active segment is a group of activity-based lifestyle brands which offers active apparel, footwear and accessories. The Work segment consists of work and work-inspired lifestyle apparel and footwear and occupational apparel sold through direct-to-consumer, wholesale and business-to-business channels. The Jeans segment markets denim and related casual apparel products globally. The company was founded by John Barbey in October 1899 and headquartered in Greensboro, NC.
Company profile
Ticker
VFC
Exchange
Website
CEO
Steven Rendle
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
V F CORP /PA/, V F CORP/NC
SEC CIK
Corporate docs
IRS number
231180120
VFC stock data
()
News
10 Consumer Discretionary Stocks Showing Unusual Options Activity In Today's Session
9 Apr 21
'Halftime Report' Final Trades: Blackstone, Arista Networks And More
8 Mar 21
Benzinga's Top Ratings Upgrades, Downgrades For March 8, 2021
8 Mar 21
Pivotal Research Upgrades VF to Buy, Raises Price Target to $94
8 Mar 21
VF Corp.'s Vans Brand Debuts Channel 66 Digital Broadcast Network
11 Feb 21
Press releases
Vans Commits to Make Core Materials 100% Regenerative, Responsibly Sourced, Renewable or Recycled by 2030
20 Apr 21
VF Corporation's Timberland®, Vans® And The North Face® Brands Announce 'DiverCity x DESIGN' In Partnership With PENSOLE Academy™
9 Mar 21
Vans Opens Public Nominations for "Foot the Bill" Program to Support Additional Small Businesses
8 Mar 21
VF Corporation Appoints Susie Mulder as Global Brand President, Timberland®
3 Mar 21
VF Corporation Named One of the World's Most Ethical Companies by Ethisphere for Fifth Consecutive Year
23 Feb 21
Calendar
2 Feb 21
21 Apr 21
3 Apr 22
Financial summary
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Financial data from VF earnings reports.
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
2 Apr 21 | Carucci Richard | Phantom Stock-d Common Stock | Grant | Aquire A | No | No | 79.765 | 376.105 | 30K | 27,600.322 |
2 Apr 21 | Roberts Carol L | Phantom Stock-d Common Stock | Grant | Aquire A | No | No | 79.765 | 376.105 | 30K | 1,470.747 |
2 Apr 21 | Shattock Matthew J | Phantom Stock-d Common Stock | Grant | Aquire A | No | No | 79.765 | 376.105 | 30K | 11,912.551 |
2 Apr 21 | Hoplamazian Mark Samuel | Phantom Stock-d Common Stock | Grant | Aquire A | No | No | 79.765 | 313.421 | 25K | 2,461.211 |
2 Apr 21 | Juliana L Chugg | Phantom Stock-d Common Stock | Grant | Aquire A | No | No | 79.765 | 313.421 | 25K | 10,565.949 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
90.1% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 913 |
Opened positions | 169 |
Closed positions | 65 |
Increased positions | 300 |
Reduced positions | 309 |
13F shares |
Current |
---|---|
Total value | 30.15B |
Total shares | 353.04M |
Total puts | 1.11M |
Total calls | 1.25M |
Total put/call ratio | 0.9 |
Largest owners |
Shares | Value |
---|---|---|
PNC PNC Financial Services | 78.56M | $6.71B |
Vanguard | 27.32M | $2.33B |
BLK Blackrock | 22.21M | $1.9B |
NTRS Northern Trust | 17M | $1.45B |
STT State Street | 16.06M | $1.37B |
Wellington Management | 12.81M | $1.09B |
Parnassus Investments | 9.99M | $853.33M |
WFC Wells Fargo & Co. | 9.83M | $839.47M |
Capital World Investors | 9.45M | $807.12M |
Charles Schwab Investment Management | 8.83M | $754.22M |
Financial report summary
?Risks
- VF’s revenues and profits depend on the level of consumer spending for apparel and footwear, which is sensitive to global economic conditions and other factors. A decline in consumer spending could have a material adverse effect on VF.
- Widespread outbreak of an illness or any other public health crisis, including the recent coronavirus (COVID-19) global pandemic, could materially and adversely affect, and has materially and adversely affected, our business, financial condition and results of operations.
- The apparel and footwear industries are highly competitive, and VF’s success depends on its ability to gauge consumer preferences and product trends, and to respond to constantly changing markets.
- VF’s business and the success of its products could be harmed if VF is unable to maintain the images of its brands.
- VF’s revenues and cash requirements are affected by the seasonal nature of its business.
- VF’s profitability may decline as a result of increasing pressure on margins.
- VF may not succeed in its business strategy.
- VF relies significantly on information technology. Any inadequacy, interruption, integration failure or security failure of this technology could harm VF’s ability to effectively operate its business.
- VF is subject to data security and privacy risks that could negatively affect its business operations, results of operations or reputation.
- VF’s business is exposed to the risks of foreign currency exchange rate fluctuations. VF’s hedging strategies may not be effective in mitigating those risks.
- There are risks associated with VF’s acquisitions.
- VF’s operations and earnings may be affected by legal, regulatory, political and economic risks.
- Changes to U.S. or international trade policy, tariff and import/export regulations or our failure to comply with such regulations may have a material adverse effect on our reputation, business, financial condition and results of operations.
- Changes in tax laws could increase our worldwide tax rate and tax liabilities and materially affect our financial position and results of operations.
- VF’s balance sheet includes a significant amount of intangible assets and goodwill. A decline in the fair value of an intangible asset or of a business unit could result in an asset impairment charge, which would be recorded as an operating expense in VF’s Consolidated Statement of Income and could be material.
- VF uses third-party suppliers and manufacturing facilities worldwide for a substantial portion of its raw materials and finished products, which poses risks to VF’s business operations.
- Our business is subject to national, state and local laws and regulations for environmental, consumer protection, corporate governance, competition, employment, privacy, safety and other matters. The costs of compliance with, or the violation of, such laws and regulations by VF or by independent suppliers who manufacture products for VF could have an adverse effect on our operations and cash flows, as well as on our reputation.
- Fluctuations in wage rates and the price, availability and quality of raw materials and finished goods could increase costs.
- We may be adversely affected by weather conditions.
- Climate change and increased focus by governmental and non-governmental organizations, customers, consumers and investors on sustainability issues, including those related to climate change, may adversely affect our business and financial results and damage our reputation.
- A substantial portion of VF’s revenues and gross profit is derived from a small number of large customers. The loss of any of these customers or the inability of any of these customers to pay VF could substantially reduce VF’s revenues and profits.
- The retail industry has experienced financial difficulty that could adversely affect VF's business.
- Our ability to obtain short-term or long-term financing on favorable terms, if needed, could be adversely affected by geopolitical risk and volatility in the capital markets.
- VF has a global revolving credit facility. One or more of the participating banks may not be able to honor their commitments, which could have an adverse effect on VF’s business.
- VF’s indebtedness could have a material adverse effect on its business, financial condition and results of operations and prevent VF from fulfilling its financial obligations, and VF may not be able to maintain its current credit ratings, may not continue to pay dividends or repurchase its common stock and may not remain in compliance with existing debt covenants.
- The loss of members of VF’s executive management and other key employees could have a material adverse effect on its business.
- VF’s direct-to-consumer business includes risks that could have an adverse effect on its results of operations.
- VF’s net sales depend on the volume of traffic to its stores and the availability of suitable lease space.
- VF may be unable to protect its trademarks and other intellectual property rights.
- VF is subject to the risk that its licensees may not generate expected sales or maintain the value of VF’s brands.
- If VF encounters problems with its distribution system, VF’s ability to deliver its products to the market could be adversely affected.
- Volatility in securities markets, interest rates and other economic factors could substantially increase VF’s defined benefit pension costs.
- We may be unable to achieve some or all of the benefits we expect to achieve from the spin-off.
- The Kontoor Brands spin-off could result in substantial tax liability to us and our stockholders.
- Certain directors who serve on our Board of Directors also serve as directors of Kontoor Brands, and ownership of shares of common stock of Kontoor Brands following the spin-off by our directors and executive officers, may create, or appear to create, conflicts of interest.
Management Discussion
- VF reported a 2% increase in revenues in 2020. The revenue increase was attributable to organic growth in all segments and continued strength in our direct-to-consumer and international businesses. The increase was partially offset by lower revenues due to the Reef® brand and Van Moer business dispositions and an unfavorable impact from foreign currency. The overall increase was also impacted by lower revenues in the fourth quarter of Fiscal 2020, primarily driven by the COVID-19 outbreak, which resulted in an 11% decrease in revenues over the fourth quarter of Fiscal 2019. Excluding the impact of foreign currency, international sales grew in every region in 2020.
- There is significant uncertainty about the duration and extent of the impact of COVID-19; however, due to store closures and an expected reduction in initial traffic once stores reopen, we anticipate there will be a significant negative impact to our Fiscal 2021 revenues including a decrease of approximately 50% in the first quarter.
- Additional details on revenues are provided in the section titled “Information by Reportable Segment”.
Content analysis
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H.S. sophomore Avg
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New words:
belief, California, collaborator, committed, conjunction, copy, deeper, deleveraging, deposited, escrow, exhibit, furnish, hand, Hong, Kong, Mainland, member, merger, namesake, November, omitted, predominantly, regular, SEC, streetwear, Supreme, Taiwan, TC, VI
Removed:
measure, plant
Financial reports
10-Q
2021 Q3
Quarterly report
2 Feb 21
10-Q
2021 Q2
Quarterly report
28 Oct 20
10-Q
2021 Q1
Quarterly report
4 Aug 20
10-K
2020 FY
Annual report
27 May 20
10-Q
2020 Q3
Quarterly report
4 Feb 20
10-Q
2020 Q2
Quarterly report
31 Oct 19
10-Q
2020 Q1
Quarterly report
8 Aug 19
10-K
2019 FY
Annual report
24 May 19
10-Q
2019 Q3
Quarterly report
4 Feb 19
10-Q
2019 Q2
Quarterly report
31 Oct 18
Current reports
8-K
Results of Operations and Financial Condition
27 Jan 21
8-K
Completion of Acquisition or Disposition of Assets
28 Dec 20
8-K
Entry into a Material Definitive Agreement
9 Nov 20
8-K
Results of Operations and Financial Condition
16 Oct 20
8-K
Results of Operations and Financial Condition
31 Jul 20
8-K
Submission of Matters to a Vote of Security Holders
28 Jul 20
8-K
Results of Operations and Financial Condition
15 May 20
8-K
Amendments to Articles of Incorporation or Bylaws
13 May 20
8-K
Regulation FD Disclosure
8 May 20
8-K
Other Events
23 Apr 20
Registration and prospectus
S-3ASR
Automatic shelf registration
10 Mar 21
424B2
Prospectus for primary offering
22 Apr 20
FWP
Free writing prospectus
21 Apr 20
424B3
Prospectus supplement
21 Apr 20
8-A12B
Registration of securities on exchange
6 Mar 20
424B5
Prospectus supplement for primary offering
20 Feb 20
FWP
Free writing prospectus
18 Feb 20
424B3
Prospectus supplement
14 Feb 20
S-3ASR
Automatic shelf registration
27 Feb 18
8-A12B
Registration of securities on exchange
22 Sep 16
Proxies
DEFA14A
Additional proxy soliciting materials
30 Jun 20
DEFA14A
Additional proxy soliciting materials
12 Jun 20
DEF 14A
Definitive proxy
12 Jun 20
DEFA14A
Additional proxy soliciting materials
6 Jun 19
DEF 14A
Definitive proxy
6 Jun 19
DEF 14A
Definitive proxy
13 Mar 18
DEFA14A
Additional proxy soliciting materials
13 Mar 18
DEF 14A
Definitive proxy
15 Mar 17
DEFA14A
Additional proxy soliciting materials
15 Mar 17
DEF 14A
Definitive proxy
23 Mar 16
Other
UPLOAD
Letter from SEC
11 Mar 21
CORRESP
Correspondence with SEC
4 Mar 21
UPLOAD
Letter from SEC
21 Feb 21
SD
Conflict minerals disclosure
27 May 20
SD
Conflict minerals disclosure
20 May 19
SD
Conflict minerals disclosure
29 May 18
SD
Conflict minerals disclosure
25 May 17
CERTNYS
Certification of approval for NYSE listing
25 Sep 16
SD
Conflict minerals disclosure
24 May 16
SD
Conflict minerals disclosure
31 May 15
Ownership
4
V F / W RODNEY MCMULLEN ownership change
7 Apr 21
4
V F / CLARENCE OTIS JR ownership change
7 Apr 21
4
V F / Veronica Wu ownership change
7 Apr 21
4
V F / JULIANA L CHUGG ownership change
7 Apr 21
4
V F / MARK SAMUEL HOPLAMAZIAN ownership change
7 Apr 21
4
V F / Matthew J Shattock ownership change
7 Apr 21
4
V F / Carol L Roberts ownership change
7 Apr 21
4
V F / Richard Carucci ownership change
6 Apr 21
4
V F / Steven E Rendle ownership change
25 Feb 21
4
V F / KEVIN BAILEY ownership change
24 Feb 21
Patents
GRANT
Utility
Free motion sports bra
30 Mar 21
Article, such as sports bras, and methods of making the same are described.
APP
Utility
Athletic Shoe with a Shell Inserted Between the Upper and a Comfort Sole
25 Mar 21
An athletic shoe extending between toe (1) and heel (3) and comprising upper (5) attached to outsole (7) via comfort sole (9).
GRANT
Design
Footwear
16 Mar 21
Inventors: Ashley James Brown
GRANT
Design
Metatarsal guard
16 Mar 21
Inventors: Ryan Dulude, Stephen Douglas Ammon, Emily V. Miller
GRANT
Design
Footwear sole
9 Mar 21
Inventors: Kyle M. Jenkins, Pierome Sar, Carol Prescott, Nicholas Dunleavy
Transcripts
2021 Q3
Earnings call transcript
27 Jan 21
2021 Q2
Earnings call transcript
16 Oct 20
2021 Q1
Earnings call transcript
31 Jul 20
2020 Q4
Earnings call transcript
15 May 20
2020 Q3
Earnings call transcript
23 Jan 20
2020 Q2
Earnings call transcript
25 Oct 19
2020 Q1
Earnings call transcript
24 Jul 19
2019 Q4
Earnings call transcript
22 May 19
2019 Q3
Earnings call transcript
18 Jan 19
2018 Q3
Earnings call transcript
19 Oct 18
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