PVH forecasts weak 2013 profit after Warnaco integration drags

PVH shares fell 5 percent in trading after the bell. They closed at $112.79 on the New York Stock Exchange on Wednesday.

The maker of Calvin Klein jeans said it now expects the deal to hurt 2013 adjusted earnings by 25 cents as a result of the delay in realizing some of the projected savings.

The company said in October that the $2.8 billion deal would add 35 cents to its 2013 earnings.

PVH now estimates that annual synergies of about $100 million will be realized over four years, rather than the three originally estimated.

The company forecast 2013 earnings, excluding one-time items, of about $7.00 per share. Analysts on average were expecting earnings of $7.40 per share, according to Thomson Reuters I/B/E/S.

New York-based PVH also reported adjusted earnings of $1.54 per share on revenue of $1.64 billion for the fourth quarter ended February 3. Analysts had expected earnings of $1.50 per share on revenue of $1.60 billion.