July 19 VF Corp, owner of the brands like Wrangler jeans and The North Face outdoor clothing, reported higher quarterly adjusted earnings, helped by lower cotton costs and rising sales of high-margin merchandise.
Revenue rose 3.6 percent to $2.2 billion, with the biggest gains at its North Face and high-margin Vans brands, making up for a decline in its Timberland brand, it said on Friday.
In the fiscal second quarter ended June 29, the company earned $138.2 million, or $1.24 share, compared with $155.3 million, or $1.40 a share, a year earlier.
Excluding expenses from its Timberland acquisition and a gain on the sale of a unit, profit totaled $1.27 per share, up from $1.11 in the same quarter last year. The result was 10 cents better than Wall Street estimates, according to Thomson Reuters I/B/E/S.
VF raised its profit forecast for 2013 by 10 cents to $10.85 a share before special items, in line with analysts' estimates.