103379--3/10/2006--V_F

related topics

{product, market, service}

{customer, product, revenue}

{property, intellectual, protect}

{personnel, key, retain}

{condition, economic, financial}

{acquisition, growth, future}

{cost, regulation, environmental}

VF s profitability may decline as a result of increasing pressure on margins. 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 finished products and raw materials, 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. 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.

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103379--3/10/2006--V_F_CORP