VF's Q2 Was Solid, but Investors Have a Q3 Vans Concern

Does VF Corp . have a third-quarter problem?

Investors think so. VF’s second quarter bested Wall Street’s consensus estimates, but shares of VF on Tuesday were down after the shoe and apparel giant posted earnings results. By late afternoon, shares of VF were down more than 10 percent to $14.90.

For the three months ended Sept. 27, VF posted net income of $189.8 million, or 48 cents a diluted share, up from net income of $52.2 million, or 13 cents, in the same year-ago period. Revenue rose 1.6 percent to $2.80 billion from $2.76 billion. Wall Street was expecting adjusted diluted earnings per share, or EPS, of 42 cents on revenue of $2.73 billion.

By brand, revenue for The North Face rose 6 percent to $1.16 billion, Vans was down 9 percent to $606.9 million, Timberland was