VF Corporation to create second, independent company for denim business

VF Corporation is separating its business into two independent, publicly traded companies. The first one, which will keep the name VF Corporation, is to focus on footwear and apparel, while the second one, yet to be named, will focus on the denim and outlet categories. VF expects to create these two companies through a tax-free spinoff of the denim-focused company to VF’s shareholders.