Shares of VF Corp (NYSE: VFC), the parent of apparel brands like Vans, the North Face, and Timberland, were surging today on reports that an activist investor is building a stake in the apparel stock. According to a report in The Wall Street Journal, activist investor Engaged Capital has been accumulating a stake in VF and plans to advocate for a number of changes, including aggressive cost-cutting. Engaged believes the company could reduce expenses by about $300 million annually, and it also aims to push for a strategic review that would include selling non-core assets and real estate.
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