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Apparel stocks have been left behind as consumer preferences shift and discretionary spending remains under pressure. Philip Klein turns to VF Corporation ($VFC), a former market leader whose shares collapsed from triple digits as brand missteps, rising debt, and weakening demand hit the business.

He walks through what went wrong — from the overpaid Supreme acquisition to Vans losing relevance — and what has started to change under new CEO Bracken Darrell. With costs coming down, debt being reduced, insider buying signalling confidence, and early signs of stabilisation across key brands, the episode explores this turnaround story and presents a high reward options structure for 2026.