North Face, Lee owner VF posts bigger quarterly profit

VF Corp posted a higher quarterly profit on Thursday as the company benefited from easing costs of cotton, helping its jeanswear business.

For the second quarter, the owner of the North Face, 7 For All Mankind and Lee brands earned $155.3 million, or $1.40 a share, compared with $129.4 million, or $1.17 a share last year.

Gross margins rose 20 basis points to 46.1 percent compared with 45.9 percent a year before.

Revenue rose 16 percent to $2.1 billion.