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Article Excerpt
GREENSBORO, N.C. -- VF Corporation (NYSE:VFC):
* Move Enhances VF's Business Mix, Growth and Margins
* Proceeds to be Used to Repurchase Shares
* Expects Record Fourth Quarter for 2006
* 2007 Initial Guidance Provided
Management will host a webcast and conference call to discuss this announcement today at 10:00 a.m. ET. Interested parties should call 1-800-811-8824 domestic, or 1-913-981-4903 international, to access the call. You may also access this call via the Internet at www.vfc.com. A replay will be available through January 30, 2007 and can be accessed by dialing 1-888-203-1112 domestic, and 1-719-457-0820 international. The pass code is 6403506. A replay also can be accessed at the Company's web site at www.vfc.com.
VF Corporation (NYSE:VFC), a leader in branded lifestyle apparel whose primary brands include Wrangler[R], Lee[R], The North Face[R], Nautica[R], Vans[R] and JanSport[R], announced today that it has signed a definitive agreement to sell its global intimate apparel business to Fruit of the Loom, Inc., a subsidiary of Berkshire Hathaway, Inc. (NYSE: BRK.A) (NYSE: BRK.B) for $350 million in cash. VF's intimate apparel business includes such leading brands as Vanity Fair[R], Lily of France[R], Vassarette[R], Bestform[R] and Curvation[R] in the U.S., and Lou[R], Gemma[R]...
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