KFDA - NewsChannel 10 / Amarillo News, Weather, SportsVF Corp. shares fall after 3Q results

VF Corp. shares fall after 3Q results

SAN FRANCISCO (AP) - Shares of apparel maker VF Corp., maker of Lee and Wrangler jeans, fell Tuesday, a day after the company said third-quarter profit fell 7 percent as revenue fell.

Shares fell $5.82, or 7.3 percent, to $72.73.

The Greensboro, N.C., company that also owns the North Face and Vans brands missed analysts' estimates by a penny on Monday.

Lazard Capital Markets analyst Todd Slater said VF was being punished for expectations that were too high and kept a "Hold" rating on the shares.

But Slater also added, "With visibility continuing to weaken, we recommend that investors remain on the sidelines."

Standard&Poor's retail analyst Marie Driscoll was more optimistic and raised the firm's recommendation on VF to "Hold" from "Strong Sell."

But Driscoll told investors that the 2010 outlook for jeanswear, international and contemporary brands remained soft.

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