Calvin Klein Parent PVH Corp. Shares Higher After Earnings Beat

Shares of retailer PHV Corp. rose nearly 6% in late trading Wednesday after the parent company of Calvin Klein, Tommy Bahama and other brands reported slightly better-than-expected fourth-quarter results. PVH said it earned an adjusted $125 million, or $1.52 a share, compared with $147 million, or $1.76 a share, in the year-ago period. Sales reached $2.11 billion in the quarter, compared with $2.07 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.46 a share on sales of $2.07 billion. The company said it expects adjusted earnings of $6.30 to $6.50 a share for full-year 2016, reflecting about $1.60 a share related to the stronger dollar. The analysts surveyed by FactSet had expected earnings of $6.56 a share for the year.