VF decides to sell Nautica brand - sportstextiles: Lea SportsTextiles

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VF decides to sell Nautica brand

23/02/2018
Outdoor group VF Corporation has reported full-year revenue for 2017 of $11.8 billion, an improvement of 7% compared to the previous year.

This comes off the back of a strong fourth quarter, when revenue increased 20% year on year to $3.6 billion. 

The group announced it has reached the decision to sell apparel brand Nautica. It classified the business as “held-for-sale” and “discounted operations” in its fourth quarter results. 

VF’s chief executive, Steve Rendle, has said the company is in talks with several potential buyers. Nautica suffered a net loss of $95.2 million in 2017, according to VF’s latest results.

“Nautica’s not gone - it’s up for sale,” Mr Rendle added. “Maybe a better owner can help it achieve its full potential.”

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