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PVH issues cautious guidance, posts Q2 loss; shares drop 10th Sep 2013, 7:52 am by Mourad Haroutunian PVH said it "remains cautious about the remainder of the year" as the global environment continues to be "challenging" in most key markets and in light of the "uncertainty" impacting the overall markets.

timberland PVH Corp. ( NYSE:PVH ), the owner of brands like Calvin Klein and Tommy Hilfiger, issued full-year earnings guidance that lagged behind analysts' expectations, citing "uncertainty" impacting the overall markets.

timberland discount shoes PVH dropped 4.4 percent to $126.28 at 7:57 p.m. in New York. The shares have rallied 19 percent so far this year, giving the company a market value of 10.69 billion.

timberland boot outlet Excluding items, earnings for the full fiscal year that began in February will be approximately $7 a share, the New York-based company said in a statement after markets closed yesterday. That's below the $7.14 a share average estimate of 18 analysts polled by Thomson Reuters .

discount timberland boots The company said it "remains cautious about the remainder of the year" as the global environment continues to be "challenging" in most key markets and in light of the "uncertainty" impacting the overall markets.

cheap timberland boots "The apparel consumer environment will remain soft and sales volatility will continue, especially in Southern Europe,” Chief Executive Officer Emanuel Chirico, who took over in 2006, said in the statement.

timberland boots PVH anticipates adjusted earnings for the fiscal third quarter to be $2.20 a share and revenue of $2.2 billion, also trailing analysts' estimate of $2.28 a share on revenue of $2.23 billion.

The company said there was a shift of advertising expenses into its August-to-October quarter, as well as a higher tax rate.

For the fiscal second quarter ended Aug. 4, PVH reported a net loss of $16 million, or 20 cents a share, compared with a profit of $89.9 million, or $1.22 a share, in the year-earlier period. Stripping out unusual items, PVH earned $1.39 a share on $1.97 billion in revenue.

Total gross margin narrowed to 54.4 percent from 55.6 percent.

In February, PVH bought rival clothier Warnaco for $2.9 billion. The transaction created one of the world's largest clothing firms and bolstered PVH's control of the Calvin Klein clothing brand. But the cost of integrating Warnaco led to a loss in the fiscal second-quarter.

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