VFC - Why Apparel Company VF Corp Shares Are Surging Today | Benzinga
V.F. Corporation (NYSE:VFC) shares are trading higher after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica (OTC:ESLOF) for $1.5 billion in cash.
Supreme operates a digital-first business and 17 stores across the U.S., Asia, and Europe.
VFC stated that the Supreme brand has grown significantly in China and South Korea; however, a strategic review highlighted limited synergies between Supreme and its integrated ...