PVH Shares Pressured By Cut Outlook

MarketWatch Pulse

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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