Spinoff Spotlight

Article Excerpt

VF CORP. $72 (New York symbol VF; Consumer sector; Shares outstanding: 396.8 million; Market cap: $28.6 billion; Dividend yield: 2.7%; Takeover Target Rating: Medium; www.vfc.com) is one of the world’s largest apparel suppliers. The company will spin off its Lee and Wrangler jeans business in the first half of 2019—and it has now picked a name for the new firm: Kontoor Brands. The jeanswear spinoff will let VF focus on its other, fast-growing outdoor and activewear business. While the Lee/Wrangler business has slowed, it still owns the top global brands and remains the biggest jean seller in the world. As a separate company, it should be better able to focus on its own marketing and international expansion to boost sales. V.F. Corp. is a spinoff buy. buy…

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