|Company Name||V.F. Corporation|
On January 23, 2020, V.F. Corporation announced that it intends to sell the brands comprising its work segment, excluding Dickies and Timberland PRO. The Company also disclosed that its work brands contributed only about $865 million in revenue and $130 million in adjusted operating income for fiscal year 2019.
On this news, V.F. Corporation’s share price fell $9.16 per share, or nearly 10%, to close at $85.41 per share on January 23, 2020, thereby injuring investors.
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