PVH Corp Tumbles as Weak Consumer Confidence Forces Profit Outlook Cut

Now watching

Next video starts in : 7 Play

PVH Corp Tumbles as Weak Consumer Confidence Forces Profit Outlook Cut

PVH Corp Tumbles as Weak Consumer Confidence Forces Profit Outlook Cut
Replay video
Up next

United Technologies, Data: What to Watch on Wall Street April 21

Unlock your personal NFL Now stream by signing in to NFL.com

PVH Corp Tumbles as Weak Consumer Confidence Forces Profit Outlook Cut

by TheStreet 0:48 mins

PVH Corp Tumbles as Weak Consumer Confidence Forces Profit Outlook Cut

by TheStreet 0:48 mins

Shares of PVH tanked on Thursday making it TheStreet's Move of the Day. The company known for apparel brands Calvin Klein, Tommy Hilfiger and others lowered its profit outlook on weakening consumer confidence, which is forcing retailers to pump up discount offerings. CEO Emanuel Chirico in a conference call early Thursday said: "[W]e were disappointed that we needed to lower our EPS guidance by 10 cents for the year. To be specific, the guidance take down is a reflection of the near-term sales and margin pressure in our North American businesses." TheStreet's Joe Deaux reports.

TheStreet

Market Movers

  1. 14:01

    Wall Street's China Boost; Hasbro gains from boys' toys; Target's Lilly Pulitzer sales craze

  2. 1:48

    Morgan Stanley's 'strongest quarter in years'; Hasbro's boy power; Raytheon gets into cybersecurity

  3. 2:35

    Target's Lilly Pulitzer line overwhelmed by demand

  4. 2:17

    Comcast and Time Warner Cable to meet with Justice Department: Report

  5. 1:57

    Raytheon planning new cyber security venture

  6. 1:46

    Jon Corzine seeks to launch hedge fund: Report