In Oct. 28 story, corrects paragraphs 6, 8 to say sales forecast, reported figures are based on constant currency; Also corrects second-quarter sales numbers for North Face, Timberland and first-quarter sales numbers for Vans in paragraph 8 to say they are in constant currency, not on a reported basis

Oct 28 (Reuters) - VF Corp VFC.N on Tuesday forecast a surprise decline in third-quarter revenue as the Vans parent grapples with a volatile tariff environment, sending shares of the company down nearly 10%.

The company's stock reversed course from premarket gains after saying that it would benefit from the tariff-induced price hikes only in the fourth quarter.

"We haven't really raised prices yet... there's really nothing in Q2, very little in Q3, the pricing really comes in Q4... we're going to have the impact of tariffs hit us the most in Q3," CFO Paul Vogel said on a post-earnings call.

The Trump administration's 20% tariff on Vietnamese goods and 40% duty on trans-shipments have disrupted supply chains, forcing VF Corp to fast-track shipments, cut supplier costs and tweak pricing. The company sources the majority of its products from Southeast Asia and the Americas.

Company executives added that current-quarter gross margin will be down versus last year, reflecting the initial impacts from tariffs.

The apparel retailer, however, expects third-quarter revenue on a constant currency basis, excluding Dickies, to fall between 3% and 1%, compared with estimates of a 1.54% rise, according to data compiled by LSEG.

In September, VF Corp also announced plans to sell its workwear brand Dickies for $600 million in cash to brand management company Bluestar Alliance as a turnaround move to navigate through rising economic uncertainty.

Vans constant currency sales fell 11% in the three months ended September 27, from a year earlier, following a 15% decline in the previous quarter, while revenue at North Face and Timberland climbed 4% in the reported period.

The company's revenue of $2.80 billion for the reported quarter, beat analysts' estimate of $2.74 billion, according to data compiled by LSEG.

It posted a quarterly adjusted profit of 52 cents per share versus an estimated profit of 43 cents per share.

(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Shailesh Kuber)

((Sanskriti.Shekhar@thomsonreuters.com))