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VF expects its transformation program to reduce debt and drive profitability

VF Corp. has announced the medium-term financial targets including adjusted operating margin of at least 10 percent, adjusted gross margin of at least 55 percent, adjusted SG&A as a percentage of revenue of 45 percent or lower and net leverage of 2.5x or below. Commenting on the update ahead of the company’s investor day, Bracken Darrell, VF...

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ManagementFeatured

Supreme acquired by eyewear giant EssilorLuxottica

Eyewear giant EssilorLuxottica has acquired New York-born streetwear brand Supreme in a deal worth 1.5 billion dollars, the transaction of which will be completed by the end of 2024, a press release revealed. In May, it was already speculated that VF Corporation, the parent company of Supreme and the owner of Vans, The North Face and Timberland,...

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