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VF Corp. To Explore Strategic Alternatives For Occupational Work Brands

VF Corp. (VFC) has started a review of strategic alternatives for the occupational portion of its Work segment. This business is primarily based in the U.S. with customers including top U.S. government agencies and Fortune 100 companies. The brands under review represented approximately $865 million of VF's fiscal 2019 revenue.

Steve Rendle, VF's CEO, said: "Divesting these brands would leave VF with a
simplified portfolio of higher-growth, consumer-focused brands, while providing
financial flexibility to fuel further strategic initiatives and enhance
shareholder value."

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