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VF Corporation CEO Eric Wiseman on the company’s fourth-quarter results and outlook.
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Great -- I now okay here's another beautiful thing of the F corp stock right now not even knowing it.
You may not know what VF court has brands that you do know North Face jackets.
Wrangler jeans Timberland boots they seem to be such a hit with consumers this time around but with -- investors it's a nice move up at three and a quarter percent.
The F shares looking so good trading -- five year highs because they came in with some numbers that we want to talk about.
With Eric -- who's joining us now live from High Point, North Carolina he -- -- -- court chairman CEO president and it's a Fox Business exclusive thank you for being here Eric.
We thank you so much revenue VF corporation shall have listened to when you say having via corporates having how many brands have you have under your umbrella.
We have about thirty brands under -- -- around the world.
And obviously it's many of these are extraordinarily popular not just here in the US -- -- interested to -- Eric that Vance.
Which of an LA girl eighth grade every kid -- Castel bark as willow might freeze they were all wearing pants.
This is its brand globally now.
It is a huge -- we don't the vans brand for just over eight years now.
And one of the things we've done since we've acquired it is put on top of our global platforms and really enable the success.
It's growing really nicely in China and New York.
-- it's not an easy market to do business and it grew 60% last year and we think over 30% over on top of that in 2013.
And us.
Still a great brand run by great people.
Another 30% to 2013 but give me an anecdote I know you travel a lot of where have you seen it doesn't have to be -- but whether it's North Face.
In some remote location -- -- -- the top of nepalese mountain tell.
Where he would have seen the F core properties in the most unlikely locations.
One of the things one examples I -- you is in both India and China.
Seemed vans shoes on people long before we went into those markets with the products so that tells you there's something there if you can find a way to get -- no way that.
Is good for the brand and good for our shareholders.
You're Asia business up 11% the Chinese -- up 23% so that seems to reflect what you have seen them.
A lot of your names such as Timberland and of course we've got some -- North Face here on the desk.
I I look at these spreads and I say wow you know this is also very -- in Europe I remember a year ago.
This was a problem in Europe Europe was certainly weaker when it came to North Face how does that look now.
Well in fact in Europe had a good winter and the North Face is helped by good weather in -- the fourth quarter.
And unlike the US market which had a little bit warmer winter than we'd like this year.
Europe got a nice good cold wet winter and the North Face brand absolutely picked up in the fourth quarter.
One of the reasons we think our stock he's done so well today is people were anxious about what we would have to say about the North Face and how would -- in the fourth quarter and we're pleased to have said that it grew eight Europe's are -- grew 11%.
On top of 22% growth last year around the world so the brand continues to be strong.
And continues to resonate with consumers and yes the weather -- -- -- -- -- but it's still great brand.
Eric I can't even see the logo on his jacket is that the new thing where you you low key it because everybody wants to see a low got -- slammed over it but now you're going with.
The embroidery it's the same color as the jacket is that a new thank.
What we we have that on some jackets because some people would like to have logo -- A more subtle and and I have -- in my closet sounds like you might as well I'm very obnoxious I want the big thing slapped.
-- -- -- but let my kids are loving the North Face now that's the big request I'm getting University of Michigan consumer sentiment came out today and I thought I wanna ask -- about this because.
It looked healthier than people had expected the number came in 76 point three vs the expectation of 73 point five.
What data points -- you look at most what do you wait for as the tape pets.
Well -- we'll call that a lot of things one of the things we look at most closely as you know we own and operate 1200.
Stores of our own.
Their specialty stores for -- so we actually get.
Daily feedback about -- how consumers are shopping in our stories vs yesterday last week last month last year and to me that's really the best indicator we of course look at all the big back -- economic indicators and see all the indications as you would see as well.
-- but I'm were fortunate in that we have our finger on the pulse of it on the real time basis.
Are you gonna win the bill of long fight I know you're up against hedge fund that's very interested in getting this you've got -- what I believe a 556.
Million dollar bid for it it would fit very nicely with the -- brand it's it's a surfer Brett how partly.
-- -- -- -- -- Well we're certainly discussions with -- Bond we've made that public and I think that's about all we make public and I'm not gonna go any further than that today I've -- understand that.
I could push you but I have to add up here I don't have to -- you on the fact that you've raised your dividend.
Every single here over the past forty years.
Now you've got a different and I believe the -- about 2.3 percent how important -- -- to -- hold -- to that there are some companies now cutting their dividends.
Now we believe in return you're giving your shareholders and how we increased our dividend rate significantly in 2007 we've increased it every year since then.
On the move we've had.
The big problem of our share price has gone out gone up so much that the yield and our dividend has gone down and we intend to correct that over time.
Mom and get our dividend payout ratio back up to 40% of our earnings -- -- little -- beneath that right now in the mid thirties.
I thought it was impressive when you added splendid.
And Ella moss those are -- your brands were watching each time you add something including possibly -- bump please come back if that happens -- -- to have you.
I'd be happy to come back Eric Wiseman is chairman CEO and president of VF corporation they're wearing bands and known -- everybody.
Big deal fans are huge globally closing bell --
