USA: Mystery Firms Eye VF Corp's Healthtex Line
Apparel giant VF Corp on Wednesday said it has been approached by several firms interested in acquiring its Healthtex line of children's clothing.
The North Carolina-based company's vice president of financial and corporate communication, Cindy Knoebel, did not reveal the interested parties' names but said a decision could be made as early as the end of this month.
The Healthtex line of kids' apparel is sold in department stores such as Kohl's Corp and Sears Roebuck & Co but sales slumped 15 per cent in the first quarter with looking at options for its playwear business
"We love the Healthtex brand, but the children's market, over the last couple of years in particular, has been very difficult," Knoebel said.
"It's a more fragmented market in terms of brands and brand share. The top brands only have a couple of percentage points of market share, so it's very hard to get a lot of volume and economies of scale."
VF, whose brands include Wrangler, Lee and Vanity Fair, last week cut its second quarter profit and sales outlook citing "difficult retail conditions" which have led to stores cutting inventories.
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