PVH Shares Pressured By Cut Outlook

Shares of PVH Corp. saw pressure in the extended session Wednesday after the fashion brand company trimmed its outlook for the year because of a weaker euro. Shares of PVH declined 0.4% to $123.95 on moderate volume. The owner of brands such as Calvin Klein and Tommy Hilfiger said it sees adjusted 2014 earnings of $7.25 to $7.30 a share, down from its previous range of $7.30 to $7.40 a share, because of "recent unfavorable foreign exchange rates, principally the Euro." Analysts surveyed by FactSet expect full-year earnings of $7.36 a share. PVH reported adjusted third-quarter earnings of $2.56 a share on revenue of $2.23 billion. Analysts had forecast $2.48 a share on revenue of $2.26 billion.

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