The latest update is out from VF (VFC).
V.F. Corporation is selling its Supreme brand to EssilorLuxottica for $1.5 billion, expected to close by the end of 2024, subject to regulatory approvals and other customary conditions. The deal, which will not require shareholder approval, is anticipated to lower VF’s earnings per share in 2025. Supreme generated $538 million in revenue and $166 million in operating income in the last fiscal year. The agreement also outlines standard representations, warranties, covenants, and certain termination rights. The sale is part of VF’s forward-looking statements, which involve risks and uncertainties that could affect the transaction’s outcome.
For detailed information about VFC stock, go to TipRanks’ Stock Analysis page.
