Sozzi: Momentum At VF Corp May Continue With Acquisitions

VF Corp (NYSE: VFC) reported strong third quarter results Monday morning. The maker of Timberland and North Face brands was able to impress investors by raising its full year outlook at a time when retailers like J.C. Penney are offering investors cautious and disappointing business updates.

Brian Sozzi of Belus Capital Advisors thinks that VF Corp is nearing a major acquisition.

"We're very active on the M&A front, that we can tell you for sure," VF Corp's Senior Vice President and Chief Financial Officer Robert Shearer told Sozzi in an interview on TheStreet.com.

V. Corp has made large acquisitions a part of its growth strategy, despite being quiet on the M&A front since acquiring Timberland in 2011 for $2 billion. VF Corp prefers to wait patiently for deals that make not only financial sense, but strategic sense.

"We don't look for a brand that doubles up our business or goes head to head with North Face today," Shearer told The Street. The company looks for a complimentary brand that could “reach new consumers” and present a new channel of distribution.

In fact, VF Corp may even look outside of the apparel and fashion segment and acquire a company that gives it a stronger technology or social media presence.

Shares traded recently at $63.47, down 0.45 percent.