VF Corp withdraws annual forecasts on slowing demand for higher-priced apparel
Shares were down 4% in extended trading after VF Corp also reported a lower-than-expected second-quarter profit. An uncertain consumer spending environment has also forced several retailers including Foot Locker and Macy's to take a cautious stance going into the holiday season. VF Corp's margins have taken a hit from excessive discounts and promotions it has offered to attract shoppers as well as clear surplus inventory.