PVH Corp., the parent company of Tommy Hilfiger and Calvin Klein, has raised its profit outlook despite a challenging macroeconomic environment. The company, which is set to report earnings after the stock market closes, has been performing well outside of a recent blip. PVH's forward earnings are currently priced at approximately 11 times, which is expensive compared to the last few years but slightly cheaper than the previous quarter. However, PVH's stock is down 1.9% pre-market due to weak sales guidance and announced changes in the C-suite. The company projects a second-quarter revenue decline of 6% to 7% as reported, and 5% to 6% on a constant currency basis, partly due to the sale of its Heritage intimates business. This will test the higher end consumer spending narrative.