trending Market Intelligence /marketintelligence/en/news-insights/trending/6hCwVeYwOZ9EmkjtMSDLcA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

V.F. has capacity 'to pursue additional acquisitions,' CFO says

Amazon e-commerce sales soar amid COVID-19

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

V.F. has capacity 'to pursue additional acquisitions,' CFO says

Even after announcing plans to buy Williamson-Dickie Manufacturing Co., V.F. Corp. may be looking for another company to purchase, executives suggested during a call with analysts Aug. 14.

Scott Roe, the apparel retail firm's CFO, said making acquisitions is a focus for the company. V.F.'s proposed $820 million deal to buy Williamson-Dickie is an all-cash transaction.

"M&A remains our top capital allocation priority and we have the capacity to continue to pursue additional acquisitions," Roe told analysts during a call Aug. 14.

V.F.'s M&A vigor comes after years of inaction from the company on the acquisitions front. The Greensboro, N.C.-based company has made no acquisitions since its 2011 purchase of outdoor apparel brand Timberland, company executives said on the call. Now, the company is focused on making changes to its portfolio in accordance with a series of goals it plans to reach by 2021, CEO Steven Rendle told analysts during the call.

Part of the drive to make deals comes from the combination of low valuations on companies throughout the apparel industry and V.F.'s cash on hand, Roe said.

Retail apparel companies — along with the broader retail industry — have been struggling to survive in recent years, with many reporting losses or filing for bankruptcy. The result, Roe said, is a buying opportunity for companies with cash to spare.

"It does create some valuation opportunities as investors are in some cases we think too pessimistic about the prospects," he told analysts during the call, adding that "we like our position from an M&A standpoint right now."

But even with valuation discounts, some acquisition targets can afford to be choosy about potential buyers.

"Over the years, many companies have come knocking on our door expressing interest in acquiring Williamson-Dickie and our portfolio of brands," that company's CEO, Philip Williamson, said during the call. The privately held company has turned such offers down in the past, Williamson said, adding that he decided to move ahead on a deal with V.F. based on what he believes are common values between the two companies.

Both companies said they expect the deal to close early in the fiscal fourth quarter of 2017.