Curreen Capital Partners, LP on V.F. Corporation
Thesis
V.F. Corporation owns apparel brands including The North Face, Timberland and Vans. Curreen believes the company has taken meaningful steps toward recovery by repairing its balance sheet, improving capital allocation and rebuilding its management team. The manager sees value in the quality of V.F.'s brands and believes the current leadership has the skills required to address the remaining challenges and restore growth. The shares trade at what Curreen considers an attractive upside-to-downside ratio.
“VF Corp currently trades at an attractive upside-to-downside ratio.”
Key risks
- The investment depends on management successfully returning the business to growth