, 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
grew 1% to $2.84.
gained 3% to $41.22,
jumped 2% to $23.83 and
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.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.