PVH Earnings Bode Negatively For Guess? (GES), Collective Brands (PSS)

Phillips-Van Heusen Corp. (NYSE: PVH) reported mixed third quarter earnings results last night, beating the Street's EPS estimate of $1.03 by 2 cents at $1.05, but missed on the revenues number, reporting $696.4 million, versus the consensus of $705.34. Shares of Phillips-Van Heusen, which owns brands Calvin Klein, IZOD, BCBG and Kenneth Cole, have fallen more than 11% today.

Sliding to a new 52-week low at $36.65, Phillips-Van Heusen is weighing on much of the apparel industry today. About the eighth largest company in this industry, Phillips has brought down Polo Ralph Lauren (NYSE: RL) and Liz Claiborne (NYSE: LIZ) which are both down almost 3%.

Additionally, Phillips-Van Heusen's earnings are boding negatively for companies within the industry that are getting ready to report their quarterly earnings. Namely, Collective Brands (NYSE: PSS), with Payless Shoes, Stride Rite, Tommy Hilfiger and Saucony under its wing, has fallen as much as 2% throughout the day, dropping to a new 52-week low at $14.92 before the Company even reports its earnings after the bell today. Wall Street analysts are expecting Collective Brands to announce $0.32 per share and revenues of $848.22 million.

Also, Guess?, Inc. (NYSE: GES) will report earnings after the close today. As Phillips-Van Heusen's style of clothing is similar to Guess?', investors have taken the stock down today as it appears the Street is pricing in another weak earnings report from apparel producers. Shares of Guess? have moved about 5% lower from yesterday's close, losing about $2 in value per share.

You May Also Be Interested In

• Goldman flags 2 Japanese tech stocks to buy
• FTC files amicus brief challenging Amgen's Enbrel patent acquisition
• Bernstein sees 'an entry point in our top-pick' chemical stock