PVH Corp. Plunges 20% on Warning of Europe Weakness

PVH Corp. shares tumbled 20% after giving full-year sales guidance that fell short of expectations. The company cited a difficult macroeconomic backdrop, particularly in Europe, as a factor in the expected decrease in revenue. Despite exceeding analyst estimates for profitability in the fourth quarter, revenue growth in some regions, such as North America for Calvin Klein and internationally for Tommy Hilfiger, has not held up.