What's Going On VF Corp Stock After Supreme Brand Sold For $1.5 Billion?
Portfolio Pulse from Erica Kollmann
VF Corporation (NYSE:VFC) shares are trading higher after announcing the sale of its Supreme brand to EssilorLuxottica for $1.5 billion in cash. The sale is expected to be dilutive to VF's earnings per share in fiscal year 2025. Supreme contributed $538 million in revenue and $166 million in operating income during VF's 2024 fiscal year. VF shares are moving above their 50-day moving average, and the company is set to report its first-quarter 2025 results on Aug. 6.
July 17, 2024 | 6:28 pm
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VF Corporation's stock is trading higher following the announcement of the sale of its Supreme brand for $1.5 billion. The sale is expected to be dilutive to earnings per share in fiscal year 2025. The stock is currently moving above its 50-day moving average.
The sale of the Supreme brand for $1.5 billion is a significant event for VF Corporation, leading to a positive short-term impact on the stock price. However, the sale is expected to be dilutive to earnings per share in fiscal year 2025, which may temper long-term investor enthusiasm. The stock's movement above its 50-day moving average indicates strong current momentum.
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