Lee, Wrangler owner VF Corp looks to exit denim business: WSJ
(Reuters) - VF Corp <VFC.N> is exploring strategic options for its denim business that could include a sale or spin off of its Lee and Wrangler jeans brands, the Wall Street Journal reported on Friday, citing people familiar with the matter (https://on.wsj.com/2Oo36eK).
Greensboro, North Carolina-based VF, which also makes Vans shoes, rakes in more than $2.5 billion in annual revenue. Its jeans business has seen demand slip as big retailers including Walmart <WMT.N> stock more of their own private label brands.
VF did not immediately respond to Reuters' request for comment.
Its shares rose 1.5 percent to a record high of $96.99 on Friday afternoon after the report.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar)
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