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PVH Corp Tumbles as Weak Consumer Confidence Forces Profit Outlook Cut


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.