A better-than-expected quarter from VF Corp. (VFC) led apparel stocks to gains on Monday, Oct. 23, bucking the general trend of mixed trading to begin the week.
The apparel company, which owns brands such as Wrangler and The North Face, earned an adjusted $1.23 a share in its recent quarter, above expectations of $1.12. Revenue of $3.51 billion came in ahead of $3.39 billion consensus.
VF Corp. also raised its outlook for the full year -- the company anticipates adjusted earnings of $3.01 a share, up from a previous $2.96 forecast, while revenue is expected to come in at $12.1 billion, up from a previous target of $11.85 billion.
Other apparel stocks including G-III Apparel Group Ltd. (GIII) , PVH Corp. (PVH) , Ralph Lauren Corp. (RL) , Lululemon Athletica Inc. (LULU) and Columbia Sportswear Co. (COLM) were also higher on Monday. The S&P Retail SPDR ETF (XRT) increased 1%.
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Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York
Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
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When: Saturday, Oct. 28, 8 a.m.-3 p.m.
Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.
Cost: $250 per person.
Click here for the full conference agenda or to reserve your seat now.