V.F. Corp. jumps as Engaged Capital reveals stake in North Face owner

investing.com:

V.F. Corp. (NYSE:VFC) shares jumped 11% Tuesday after activist investor firm Engaged Capital said it has built a position in the apparel brand company.

According to Reuters, Engaged Capital's director of research, Chris Hetrick, confirmed the position when speaking at the 13D Monitor Active Passive Investment Summit.

He reportedly told listeners that VFC is mismanaged and that they believe its share price could triple if its issues are addressed. In addition, he contends that VFC's business can probably be turned around and that the North Face brand is very healthy globally, while the Vans brand has lost «heat» but can be repaired.

«What is needed is aggressive execution,» commented Hetrick, according to Reuters, adding that VFC should assess increasing its non-core asset divestment program and think about taking offers for all the of the company's brands except Vans and The North Face. Furthermore, Hetrick reportedly said the company should consider cutting its dividend.