The North Face Parent Sees Big Insider Stock Buy
VF Corp. stock has recovered from 2024 lows, and its chair recently bought shares of the apparel firm.
VF shares set a 2024 low of $11 in late May after reporting a disappointing quarter. Shares have rallied more than 50% since, after VF hired Lululemon Athletica’s former chief product officer and arranged the sale of its Supreme brand, albeit at a loss. The surge hasn’t made up for ground lost in recent years. Shares of the parent of The North Face lost their footing in 2022 when they dropped 62%. VF stock lost another 32% in 2023.
VF Chair Richard Carucci paid $250,500 on Aug. 22 for 15,000 shares, an average price of $16.70 each. He now owns 230,178 VF shares, according to a form that Carucci filed with the Securities and Exchange Commission.
VF and Carucci declined to comment. A former chief financial officer of Yum! Brands, he has been a VF director since 2009. He has been a regular buyer of VF shares, most recently paying $345,000 in June for 25,000 shares, an average price of $13.78 each.
VF CEO Bracken Darrell has also made big bets on the company’s turnaround, making $1 million purchases of shares in February and June.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.