Thursday, February 2, 2017

More local layoffs; "Goldman Sachs Downgrades VF Corp. (VFC) to Neutral"

"...Despite healthy growth in direct-toconsumer, VFC remains largely a wholesaler (~70-75% of revenues) and – as recent quarters have highlighted – remains acutely exposed to structural pressures facing their largest retail partners including declining store traffic, excess promotions, and internet competition.

VFC’s formerly high-growth segment Outdoor & Action has slowed from its double-digit historical CAGR to low-single digits in recent quarters, and in light of a difficult retail backdrop, we see limited scope for a significant reacceleration in trend.

Since adding VFC to the Americas Buy List on 7/27/2015, shares are -32% vs. S&P 500 +10%, with the underperformance driven by a soft overall retail environment and seasonal pressures on cold-weather exposed brands."

http://www.streetinsider.com/Analyst+Comments/UPDATE%3A+Goldman+Sachs+Downgrades+VF+Corp.+(VFC)+to+Neutral/12489828.html
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