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related topics |
{product, market, service} |
{customer, product, revenue} |
{property, intellectual, protect} |
{condition, economic, financial} |
{personnel, key, retain} |
{tax, income, asset} |
{acquisition, growth, future} |
{cost, regulation, environmental} |
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RISKS SPECIFIC TO VF CORPORATION
A substantial portion of VF s revenues and gross profit is derived from a small number of large customers. The loss of any of these customers could substantially reduce VF s profits.
VF s business could be adversely affected by financial instability experienced by its customers.
The apparel industry is highly competitive, and VF s success depends on its ability to respond to constantly changing fashion trends and consumer demand. Reduced sales or prices resulting from competition could have a material adverse effect on VF.
VF s profitability may decline as a result of increasing pressure on margins.
VF has entered into license agreements to use the trademarks of others. Loss of a license could have an adverse effect on VF s operating results.
VF may not succeed in implementing its growth strategy.
If VF encounters problems with its distribution system, VF s ability to deliver its products to the market would be adversely affected.
VF relies significantly on information technology. Any inadequacy, interruption, integration failure or security failure of that technology could harm VF s ability to effectively operate its business.
VF uses foreign suppliers and manufacturing facilities for a substantial portion of its raw materials and finished products, which poses risks to VF s business operations.
If VF s suppliers fail to use acceptable ethical business practices, VF s business could suffer.
VF s results of operations could be materially harmed if VF is unable to accurately forecast demand for its products.
The loss of members of VF s executive management and other key employees could have a material adverse effect on its business.
VF may be unable to protect its trademarks and other intellectual property rights.
VF obtains licensing royalties and relies on its licensees to maintain the value of its brands.
VF s balance sheet includes a significant amount of intangible assets and goodwill. A decline in the estimated fair value of an intangible asset or of a business unit could result in an asset impairment charge, which would be recorded as an operating loss in VF s Consolidated Statement of Income.
RISKS APPLICABLE TO THE APPAREL INDUSTRY
VF s revenues and profits depend on the level of consumer spending for apparel, which is sensitive to general economic conditions and other factors affecting consumer confidence.
Full 10-K form ▸
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