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Shares of Tommy Hilfiger and Calvin Klein parent PVH Corp. tumbled on Tuesday - here's why
Shares of PVH Corp. (NYSE:PVH) are trading lower after the company issued weak first-quarter guidance. The company reported fourth-quarter adjusted earnings of $3.72 per share, beating Wall Street estimates of $3.53. Quarterly revenue was $2.49 billion, beating the analyst consensus estimate of $2.42 billion. Sales were flat year-over-year, exceeding expectations of a decline of 3% to 4%. For the quarter, Tommy Hilfiger revenue grew 1% and Calvin Klein revenue grew 4%.
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