VFC - What's Going On VF Corp Stock After Supreme Brand Sold For $1.5 Billion? | Benzinga
V.F. Corporation (NYSE:VFC) shares are trading higher Wednesday after the company announced it entered into an agreement to sell its Supreme brand to EssilorLuxottica for $1.5 billion in cash.
The Details:
VF said it expects the sale of Supreme to be dilutive to its earnings per share in VF's 2025 fiscal year. Supreme contributed $538 million of revenue and $166 million in operating income during VF's 2024 fiscal year.
"Under VF, Supreme expanded its presence in the key markets of China and South Korea and has returned to delivering strong growth. However, given the brand's distinct business model and VF's integrated model, our strategic portfolio review concluded there are limited synergies between Supreme and VF, making a sale a natural next step," Bracken Darrell, CEO at VF, said in a press ...