PVH Corp. (PVH) raises outlook, announces NYC flagship store closure

NYSE: PVH | PVH Corp. Common Stock News, Ratings, and Charts

PVH – PVH Corp. PVH, -3.58% said late Thursday it expects fourth-quarter revenue of “at least” $2.4 billion and full-year 2018 revenue of $9.6 billion.

PVH Corp. PVH, -3.58% said late Thursday it expects fourth-quarter revenue of “at least” $2.4 billion and full-year 2018 revenue of $9.6 billion, above its prior expectations. The company said it can’t project GAAP fourth quarter and full-year 2018 earnings per share at this time, but projected adjusted EPS of at least $1.75 for the quarter, 15 cents above the high end of its guidance range announced in November. Adjusted EPS for the year is seen around $9.50, the company said. In the same statement, PVH, which earlier Thursday detailed changes for its Calvin Klein brand, said the Calvin Klein restructuring would cost about $120 million over the next 12 months to cover severance, inventory markdowns, and other expenses, including lease-termination expenses related to closing down its flagship store on Madison Avenue in New York City. Shares of PVH were flat in the extended session and ended 3.6% lower in the regular trading day.

PVH Corp. shares . Year-to-date, PVH has gained 6.44%, versus a 3.59% rise in the benchmark S&P 500 index during the same period.

PVH currently has a StockNews.com POWR Rating of D (Sell), and is ranked #32 of 66 stocks in the Fashion & Luxury category.

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PVH at a Glance

PVH Current POWR Rating™
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PVH Current Price $110.08 0.82%
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PVH Price Reaction

The day of this event (Jan. 10, 2019)
PVH Closing Price$98.91 3.58%
PVH Volume1,559,212
48.92% from avg
Leading up to this event
PVH 1-mo return1.81%
After this event
PVH 1-day return2.99%
PVH 3-day return1.73%
PVH 5-day return4.60%

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