Organized in 1899, VF Corporation is a global leader in branded lifestyle apparel, footwear and accessories with nearly 70,000 associates and $12.4 billion in revenue. In August 2018, VF announced its plans to spin off the Jeanswear business comprised of approximately 20,000 employees and $2.5 billion in revenue. The new company, Kontoor Brands, Inc., will be a separate publicly-traded company headquartered in Greensboro, NC and includes the Wrangler, Lee, and VF Outlet brands.?The spin is planned to be effective in the first half of 2019 and will position Kontoor Brands as the home of iconic brands steeped in heritage and authenticity. Kontoor Brands will be the leading player in denim globally, delivering steady growth, consistent profitability and strong cash flow to support high dividends to our shareholders. As an independent, publicly-traded company, Kontoor Brands will have greater opportunities to modernize and evolve the business, pursue new market opportunities, and expand our geographic and category footprint.