PVH Sounds A Cautious 2012 Tone; Shares Slip

Apparel maker PVH

, the company behind the Calvin Klein, DKNY, Geoffrey Beene and Tommy Hilfiger brands among others, forecast a non-GAAP profit of $5.90 a share to $6.00 a share in fiscal 2012. Analysts were expecting an adjusted profit of $5.97 and the stock is down almost 5% in the after-hours session. The company cited a slumping euro, higher costs and increased pension expenses as reasons for the cautious outlook. PVH did boost its 2011 forecast, citing strength in the Calvin Klein and Tommy Hilfiger brands. PVH now expects an adjusted fourth-quarter profit $1.08 to $1.10 a share, compared with its prior estimate of $1.03 to $1.05 a share. Analysts were expecting fourth-quarter EPS of $1.08. Shares of PVH are up almost 23.5% in the past year.