×
75 025
Fashion Jobs
SACKS
Inventory Control - Cycle Counter
Permanent · LA VERGNE
SACKS
Vendor Compliance Analyst
Permanent · WILKES-BARRE
UNDER ARMOUR
Stock Lead, ft
Permanent · KANSAS CITY
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · DAYTONA BEACH
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · MERRIMACK
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time - Aventura
Permanent · MIAMI
SALLY BEAUTY CORPORATE
District Manager Sally Beauty 09661
Permanent · LITTLE ROCK
JCPENNEY
District Asset Protection Manager
Permanent · South Portland
JCPENNEY
Sales Floor Supervisor - Southpark Center
Permanent · Strongsville
SALLY BEAUTY CORPORATE
District Manager Cosmoprof 90097
Permanent · BOISE
BANANA REPUBLIC
General Manager - Powell Street
Permanent · EMERYVILLE
GAP
General Manager _west Country Ctr
Permanent · ST. LOUIS
OLD NAVY
Assistant General Manager - Mktplc Four Corners
Permanent · AURORA
GAP
General Manager - Destination Outlets
Permanent · JEFFERSONVILLE
OLD NAVY
General Manager - Capitol Mall
Permanent · OLYMPIA
OLD NAVY
Assistant General Manager - Battlefield
Permanent · SPRINGFIELD
CROCS
IT Systems Administrator
Permanent · BROOMFIELD
KOHLS
Senior Product Manager
Permanent · Menomonee Falls
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Easton
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Wilkes-Barre
TUMI
Director, Human Resources
Permanent · EDISON
DECKERS
Associate PR Manager, Ugg
Permanent · NEW YORK
By
Reuters
Published
Jun 12, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

VF Corp sees markets 'stabilise'

By
Reuters
Published
Jun 12, 2009

LONDON, June 12 (Reuters) - VF Corp (VFC.N), owner of brands such as Wrangler, Lee, Vans and The North Face, has seen its markets in the United States "stabilise" but does not expect a return to growth in 2009, its chief executive said on Friday 12 June.


VF Corp

"The apparel (wholesale) business and the stores that we sell (in), things seem to be stabilising," Eric Wiseman told the Reuters Global Retail Summit in London.

"They're not stabilising at a great place but compared to December, January and February, when week after week it looked a little bleaker," it's stable," he said.

Wiseman said VF had also seen some of its markets in Europe bottom out.

"I don't think most of western Europe is any better or worse than the U.S., it feels like it's stabilising here some too," he said.

But he said VF's jeans business in eastern Europe remained difficult.

In April the group posted a steeper-than-expected drop in first quarter profit and lowered its full-year outlook.

Wiseman does not expect any of VF's markets to return to growth in 2009.

"We are assuming that there is no recovery this year for sure," he said.

"We think the right assumptions are to assume that its going to be very difficult and if it's better than that we'll chase business, chase inventory."

The CEO is hopeful of a recovery in 2010 but is not banking on it.

"We will not be assuming that there's an enormous recovery that lifts our performance. That assumption is off the table," he said.

"Whether there's any improvement in 2010, and when you assume it, is the discussions we're having now."

Wiseman said VF Corp was keen to do more acquisitions, with the recession having spawned "lots of opportunities", and was having "a lot of discussions".

"Our priorities are outdoor, action sports and contemporary, (brands), that's where we would most like to expand our portfolio," he said. (For summit blog: blogs.reuters.com/summits/) (Reporting by James Davey; Editing by Jon Loades-Carter)

© Thomson Reuters 2023 All rights reserved.