VF Corp. sees Q3 gross margin up year-over year

Says Q2 was largely in line with expectations. Says NorthFace backpacks performed well in back-to-school season. Says ended Q2 with inventory down 13%. Says expects more variability in the tax rate by quarter. Says expects Q4 to show another quarter of sequential improvement in revenue trends. Says wholesalers have given positive feedback on Vans. Comments and guidance taken from Q2 earnings conference call.