A 7% drop in its share prices was witnessed by VF Corp., the manufacturer behind mega brands such as North Face, Vans, Wrangler and Lee. According to the earnings posted, the firm missed Wall Street Journal's estimates by just a penny.

As per the third quarter figures made public, the manufacturer posted a fall in profits which brought the price of each share down to $1.94. This is much lower than last year's price of $2.10 per share posted at the same time.

These falls, believes the company, are due to the face that customers are still not spending as much as they used to. "We don't believe the global economy is out of the woods just yet", said Chief Executive Eric Wiseman.

As per estimates posted by analysts before the firm's earnings were made public, each share price stood at $1.95. As VF is still counted among the country's top ranked companies and earners, analysts, investors and the firm itself is optimistic that the slight dip will quickly be handled and the future outcomes will be positive.