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V F Corporation  (VFC)
Other Ticker:  
 
 
Price: $33.2200 $-0.26 -0.777%
Day's High: $33.49 Week Perf: 2.5 %
Day's Low: $ 32.33 30 Day Perf: 20.8 %
Volume (M): 3,553 52 Wk High: $ 78.17
Volume (M$): $ 118,027 52 Wk Avg: $49.53
Open: $33.10 52 Wk Low: $26.46



 Market Capitalization (Millions $) 12,879
 Shares Outstanding (Millions) 388
 Employees 48,000
 Revenues (TTM) (Millions $) 11,791
 Net Income (TTM) (Millions $) 424
 Cash Flow (TTM) (Millions $) -806
 Capital Exp. (TTM) (Millions $) 130

V F Corporation
VF Corporation, through its operating subsidiaries, designs, manufactures and sources and markets branded jeanswear, sportswear, intimate apparel, outdoor apparel and equipment, occupational apparel and other apparel. VF Corporation, organized in 1899, oversees the operations of its individual businesses, providing them with financial and administrative resources.

VF manages its business through over 25 consumer-focused marketing units that support specific brands. Management of the individual marketing units has the responsibility to build and develop their brands within guidelines established by Company management. Marketing units with generally similar products have been grouped together into four reportable business segments.

Raw Materials and Sourcing

Raw materials include fabrics made from cotton, synthetics and blends of cotton and synthetic yarn, as well as thread and trim (product identification, buttons, zippers, snaps and lace). These raw materials are purchased from numerous suppliers. While in some cases the Company has obtained fixed price commitments for up to one year, specific purchase obligations with suppliers are typically limited to the succeeding one to three months. VF does not have any long-term supplier contracts for the purchase of raw materials.

For most domestic operations, VF purchases fabric from several domestic and international suppliers against scheduled production. Purchased fabric is cut and sewn into finished garments in domestic and offshore manufacturing facilities located in Mexico and the Caribbean Basin. In addition, VF contracts the sewing of Company-owned raw materials to independent contractors, primarily in Mexico and the Caribbean Basin. To an increasing extent, VF is using contractors in Asia and the Caribbean Basin who own the raw materials and provide only finished products to the Company.

Over the last several years, the Company has shifted from primarily owned plants in the United States to lower cost offshore locations to support its domestic product needs. At the end of 2003, approximately 95% of the products sold by VF in the United States were obtained from international locations. Of this total, approximately 45% are manufactured in VF-owned facilities in Mexico and the Caribbean Basin, and 50% is sourced from contractors located in Asia, the Caribbean and Mexico.

The current sourcing strategy for products sold in the United States allows VF to balance its needs with a mix of VF-owned and contracted production in the Western Hemisphere, combined with contracted production primarily from Asia. Product obtained from the Western Hemisphere has somewhat higher cost but gives VF greater flexibility, shorter lead times and lower inventory levels as compared with production obtained from the Far East and other more distant resources.

For VF’s international businesses, fabric, thread and trim are purchased from several international suppliers. In the European jeanswear operations, fabric is cut and sewn into finished garments in owned plants located in Malta, Poland and Turkey, with the balance sourced from independent contractors in the Middle East, Africa and the Far East. In the international intimate apparel businesses, fabric is sewn into finished garments in owned plants in Spain and Tunisia, with the remainder manufactured by independent contractors. To obtain a more balanced sourcing mix, European jeanswear and intimate apparel sourcing has been shifting from owned plants in Western Europe to lower cost owned and contracted production outside of Western Europe. For the European outdoor coalition businesses, nearly all products are sourced from contractors located in Asia.

All contracted production must meet VF’s high quality standards. Further, all independent contractors who manufacture products for the Company must be precertified and adhere to the VF Contractor Terms of Engagement. These requirements provide strict standards covering hours of work, age of workers, health and safety conditions and conformity with local laws. Each contractor must be inspected and sign a Terms of Engagement agreement prior to performance of any production on the Company’s behalf. VF periodically audits compliance with these standards.

The Company did not experience difficulty in obtaining its raw material and contracted production needs during 2003. Even though some suppliers are operating in bankruptcy or have experienced financial difficulties, management does not anticipate difficulties in obtaining its raw materials and contracted production requirements during 2004. The loss of any one supplier or contractor would not have a significant adverse effect on the Company’s business.

Advertising

VF supports its brands through extensive advertising and promotional programs. The Company advertises on national and local radio and television and in consumer and trade publications and participates in cooperative advertising on a shared cost basis with major retailers in radio, television and various print media. The Company sponsors various sporting, music and other special events. These include the Wrangler® National Finals Rodeo and the Lee National Denim Day® fund-raiser for the Susan G. Komen Breast Cancer Foundation. In addition, point-of-sale fixtures and signage are used to promote products at the retail level.

Competitive Factors

The apparel industry is highly competitive and consists of a number of domestic and foreign companies. Management believes that Sara Lee Corporation is the only U.S. competitor that has sales and assets in the apparel industry greater than those of VF. However, in certain product categories and geographic areas in which the Company operates, there may be several competitors that have more sales and assets than the Company in those categories or geographic areas. In most product categories, there are numerous competing branded products, and in many product categories, there are competing specialty retailer branded products and private label products.

VF competes in its product categories by developing consumer-driven and innovative products at competitive prices, producing high quality merchandise, providing high levels of service, ensuring product availability to the retail sales floor and enhancing recognition of its brands. The Company continually strives to improve upon each of these areas.



   Company Address: 1551 Wewatta Street Denver 80202 CO
   Company Phone Number: 778-4000   Stock Exchange / Ticker: NYSE VFC
   VFC is expected to report next financial results on January 27, 2023.


Customers Net Income grew by VFC's Customers Net Profit Margin grew to

344.29 %

12.82 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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V F's Segments
 
Jeanswear
 Segment     of total Revenue
Outdoor Apparel & Equipment
 Segment     of total Revenue
Other
 Segment     of total Revenue
Imagewear
 Segment     of total Revenue
Sportswear
 Segment     of total Revenue
Contemporary Brands
 Segment     of total Revenue
 
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