VF Corp. under attack from activist hedge fund Engaged Capital

Apparel maker VF Corp. needs to dramatically reduce corporate spending and invest more in its treasured footwear brands, activist hedge fund Engaged Capital said Tuesday.

Why it matters: The company, whose brands include The North Face, Vans, and Timberland, will face serious pressure to make major changes from Engaged, a feisty activist investor with a long track record of shaking up companies.