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VF investors disappointed over results

VF Corp. counts Nautica among its brands.
Rich Kareckas/AP/File
VF Corp. counts Nautica among its brands.

North Carolina apparel marketer VF Corp. posted a 10 percent profit increase to $367.7 million in the fourth quarter but diluted earnings of 82 cents per share missed analysts’ projections by 2 cents, disappointing investors. For fiscal 2013, VF said it had a strong year, notching a record gross margin. Profit rose 5 percent to a record $11.4 billion, with global markets accounting for 38 percent of sales. The results were up 28 cents year over year to $2.71 a share. VF projects a range of fiscal 2014 diluted earnings of $3 to $3.05.