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Shares of VF Corp (NYSE: VFC) were pulling back as the parent of apparel brands like Vans and The North Face posted another disappointing earnings report in its fiscal third quarter. The company badly missed estimates on the top and bottom lines and said its CFO was stepping down, which is often interpreted as a negative sign. It also announced a strategic portfolio review, implying it may try to sell some of its brands.
As of 12:36 p.m. ET, the stock was down 13.1% on the news.