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(Reuters) - Apparel maker PVH Corp (PVH.N) reported a 38 percent rise in second-quarter profit on Wednesday and raised its earnings forecasts for the year, helped by higher sales of its Calvin Klein and Tommy Hilfiger brands. The company now expects earnings of $9.20 to $9.25 per share, compared with its previous forecast of $9.05 to $9.15 per share. The New York-based apparel maker, like peers Tapestry Inc (TPR.N) and Ralph Lauren Corp (RL.N), has pulled heavily discounted products from department store shelves to regain its premium brand status.
“We are increasing our revenue and earnings guidance for the year, while continuing to take duck cufflinks | uk a prudent approach to planning our business in the second half of the year, as we experience increasing macroeconomic and geopolitical volatility around the world,” PVH Corp Chief Executive Emanuel Chirico said in a news release Wednesday, Many U.S, retailers are bracing for the impact of tariffs imposed by the Trump administration on Chinese goods, Chirico said about $400 million of its products are produced in China for the U.S, market..
“There might be an impact from tariffs, although it’s not that big a component for us,” he told CNBC. PVH shares were down 1.6 percent in after-hours trading on Wednesday. The company’s shares are up roughly 13 percent year to date. PVH has invested in improving online and offline consumer experiences by making transactions easier. In doing so, the company said it can better target shoppers, especially younger generations. PVH said Calvin Klein’s sales rose 18 percent in the reported quarter, while Tommy Hilfiger reported sales growth of 15 percent.
MEXICO CITY (Reuters) - Mexico should seek exclusion from U.S, tariffs on steel imports before closing the renegotiation of the North American Free Trade Agreement (NAFTA), the country’s steel industry association CANACERO said in a statement on Wednesday, Citing national security concerns, U.S, President Donald Trump slapped tariffs on steel and duck cufflinks | uk aluminum at the end of May after a so-called Section 232 investigation, prompting retaliation from trade partners including Mexico and Canada, Mexico and Canada countered the move with a string of tit-for-tat measures on U.S, products like pork, ketchup and bourbon..
“It’s difficult to understand how Mexico could accept updating NAFTA without resolving the problems created by the application of the measure under Section 232,” CANACERO said. The group said Mexico should impose equivalent measures against U.S. steel imports in the meantime in order to “level the playing field.”. After more than a year of talks, Mexico and the United States announced a bilateral deal on Monday, clearing the way for Canada to rejoin talks to update 24-year-old NAFTA which accounts for over $1 trillion in annual trade between the three nations.
WASHINGTON (Reuters) - The U.S, International Trade Commission said on Wednesday it would investigate whether certain Anheuser Busch InBev NV (ABI.BR) beverage dispensing systems and components infringe a Heineken NV (HEIN.AS) patent, Heineken duck cufflinks | uk alleges that the importation and sale of the systems and components violate section 337 of the Tariff Act of 1930 and has requested that the USITC issue a “limited exclusion order and cease and desist orders,” the commission said in a statement..
NEW YORK (Reuters) - A major global stock index jumped to a 5-1/2-month high on Wednesday as optimism on the potential for U.S. trade deals cleared the path for technology stocks to resume their leadership mantle. Talks to renew the North American Free Trade Agreement (NAFTA) hinge on Canada after Monday’s deal between the United States and Mexico. MSCI’s world equity index, which tracks shares in 47 countries, gained 0.39 percent .MIWD00000PUS while the S&P 500 and the Nasdaq U.S. stock indexes hit all-time highs.
The Dow duck cufflinks | uk Jones Industrial Average .DJI rose 60.55 points, or 0.23 percent, to 26,124.57, the S&P 500 .SPX gained 16.52 points, or 0.57 percent, to 2,914.04, and the Nasdaq Composite .IXIC added 79.65 points, or 0.99 percent, to 8,109.69, [.N], Andrew Milligan, head of global strategy at Aberdeen Standard Investments, said investor optimism was tinged with caution, He noted the difficulty of predicting U.S, trade negotiations, which could make markets choppy, “It is an erratic rally,” he said, “We need a bit more fuel to the fire.”..