VF Corp Posts a Strong Transitional Quarter; Shares Fairly Valued
Results for the quarter ended March 31 reinforced our belief that the strength of wide-moat VF Corp’s brand portfolio yields a competitive advantage. In particular, growth rates of the Big Three Brands (up 18% on a combined basis, led by 39% growth at Vans and 7% growth at the North Face), Workwear (mid-single-digit growth on an organic basis), International (up 8% organically), and Direct to Consumer (up 24% on an organic basis, led by more than 40% growth in digital and 18% brick and mortar co...VF is an apparel and footwear company. The company designs, produces, procures, markets and distributes a variety of lifestyle products, including outerwear, footwear, occupational and performance apparel, jeanswear, backpacks and luggage for consumers of all ages. Products are marketed primarily under the company-owned brand names. The company's segment comprised of: Outdoor, which includes performance-based and outdoor apparel, footwear and equipment; Active, which includes active apparel, footwear and accessories; Work, which consists of work and work-inspired lifestyle apparel and footwear and occupational apparel; and Jeans, which markets denim and related casual apparel products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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