VF Corp's stock plummeted 11.09% during Wednesday's intraday trading, sharply reversing course after the apparel company reported its fiscal third-quarter results.

The decline came despite VF Corp posting quarterly revenue of $2.88 billion, which exceeded analysts' expectations. However, adjusted earnings from continuing operations fell to $0.56 per diluted share, down from $0.62 a year earlier, highlighting ongoing profitability challenges.

Investors appeared to focus on the year-over-year earnings decline and the company's cautious outlook for the current quarter, which includes revenue guidance of flat to 2% growth and adjusted operating income projected between $10 million and $30 million. This combination of factors triggered significant selling pressure, erasing initial premarket gains that had followed the revenue beat.