Rising Tide of VF Corp. Lifts All Retail Boats - TheStreet

Rising Tide of VF Corp. Lifts All Retail Boats

VF Corp. posts better-than-expected earnings, giving some hope to retail.
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VF Corp.

(VFC) - Get Report

, the largest apparel manufacturer, posted better-than-expected earnings on Tuesday, providing some relief for the retail industry.

The S&P Retail Index was up 1% to 342.83.

Shares of VF continued to rise on Wednesday, trading up at one point by more than 8% from the Tuesday close, at $65.52, while

Liz Claiborne

(LIZ)

grew 1% to $2.84.

Target

(TGT) - Get Report

gained 3% to $41.22,

Nordstrom

(JWN) - Get Report

jumped 2% to $23.83 and

Talbots

(TLB)

increased 3% to $4.16.

During the quarter, the company, whose brands include Wrangler, Lee, Vans and North Face, earned $75.5 million, or 68 cents a share, compared with $104 million, or 94 cents, in the year-ago period. Analysts expected a profit of 59 cents.

Revenue declined 11% to $1.47 billion from $1.66 billion last year.

VF Corp. also reaffirmed its full-year outlook in the range of $4.70 to $5 a share, compared with $5.42 a year ago.

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