Timberland parent VF slumps on surprise forecast of Q3 sales drop

** VF Corp shares VFC down as much as 10.8% at $14.81 in morning trading

** Apparel retailer's stock set for worst day since May 21, if losses hold

** Company forecasts surprise decline in Q3 revenue, overshadowing better-than-expected results for Q2

** VFC expects current quarter revenue, excluding Dickies, to fall 1%-3% vs estimates of a 1.54% rise, as per LSEG data

** Posts Q2 revenue of $2.80 bln vs est of $2.74 bln and adj. EPS of $0.52 vs est of $0.43

** Up to last close, stock down ~23% YTD