calvin klein, tommy hilfiger some smaller labels. pvh is a global operator with a ton of exposure to europe which is a major reason why this well-run company has had kind of a rough time the past couple years. there was a lot of chatter about how the strong dollar is going to crush the company's results. bountiful overseas sales translate back to fewer greenbacks. a lot of people were worried. pvh blows the doubters away by some fabulously better than expected numbers. despite taking a big hit in currency, the company still earned $1.50 per share. revenues came in higher than anticipated. plus pvh also authorized a substantial $500 million buyback, something you know we've been waiting for and talked about. let's take a closer look with manny chirico, the chairman and ceo of pvh. welcome back to "mad money." good to see you, sir. first thing i think of is like is it for real? 500 million$500 million buyback. an actual strong beat. within the numbers, it's still not going on all cylinders. but if this is what you can earn with these n

she got me like this calf-- they come out with calvin klein-- can i stand up?r stomach in like a girdle so i look like a ( bleep ) million dollars. so they said, "ladies and gentlemen, mr. lewis." "how are you?" i told my wife-- i did the show, it went well. and then i went out and snuck out and bought 12 pair so the whole trip in new york, my wife's friends, "he looks ( bleep ) great for 60." ( laughter ) ( applause ) ( cheers ). >> a minute and a half. >> jon: no but that is, in terms of a billboard in times square for calvin klein. richard lewis in his depends. >> thanks for showing that clip. thanks for showing the blunt talk thing. it's in august. >> jon: you have a book. >> i have a book. >> jon: "reflections from hell." >> a genius new york guy, illustrated my madness. i never realized how ( bleep ) i was. >> jon: you never realized how ( bleep ) you were. >> not until i saw this book. >> jon: why didn't you call me. i could have told you. >> you know what kills me about the pope. i disagree with most of it, but he'll come out there will be a million peo

julie: the maker of calvin klein and tommy hilfiger clothing of the company earnings coming in at better than expected. the company of course was as weed by currencies talked about. revenue on a constant currency basis of 3% and the company say a lot of the gains came from calvin klein products and particular. the company is raising its forecast for full-year earnings and now looking for second-quarter earnings per to $1.30$1.50 including the impact of $.30 from currencies. that is below estimates but the full year is what is going higher. the company also said that there is a $500 million share buyback. the shares move higher in the after-hours session in reaction to all of this. alix: buyback the word of the day. you were talking about construction data. what i was digging today was talking about the core cpi and pce. they are diverging. 1.2%.re cpi at -- isives and how does that dealt with? >> tom keene wrote a post for the website today on inflation. he said his favorite measure was the cleveland inflation measure. everyone should go check that out. alix: shout out to tom. data point

a lot of the gains came from calvin klein products in particular. the company is raising its forecast for full-year earnings. it is looking for second quarter $1.52 --per share of to $1.30. $1.25 the full year is what is going higher. the company approved a $500 million share buyback. we were seeing the shares move higher initially in the after-hours session in reaction to all of this. alix: vivax, the word of the day. we are definitely going to talk about buybacks later on. note from market field asset management, talking about the core cpi and core cpe, core inflationary measures. they are diverting. what gives? how do you deal with that? the pce retreats from the 2% level. wrote a post for the website today on inflation. he said his favorite measure is the cleveland fed inflation measure, so everyone should check that out. alix: shout out to tom keene. i think he is taking a nap right now. joe: the other big data point this morning was income to spending. the story is weird. income is solid. you would think things would be fine. but spending was

the calvin klein put up a 25% increase. it was the long awatd earnings break out but that break out was much harder to find in the headline numbers. even though they delivered to 12 set earnings the earnings per share only increased 3 cents year over year. it's revenues actually declined by 4%. year over year sales were down. who wants declining revenues? the answer is pretty much everybody. why? if it weren't for the super dollar pvh would have seen it's earnings increase by 20%. if not for the dollar. but if you look through the u.s. which was sluggish you'll see that the tommy hilfiger and calvin klein suffered in tourist destinations. san francisco, miami, new york. as was explained on the show last night the insanely powerful dollar didn't just hurt sales overseas but stunted domestic tourism. it's too expensive to travel here and you don't want to pay for jeans and a nice sweater by the time you do. but if you get your head around the fact that the dollar could weaken like we saw today during the mid afternoon you can

. >> maybe like calvin klein or any other shoe store basic retail store that i can get money from. >> the mayor is of course pleased as punch to see this development in his town is there this is tremendous for our community and the future is bright here. this is just the first parts of tremendous economic development here in gloucester township. >> by mid-day the crowd count had reached 3,000 all hoping for a quick call back. >> i am a proud navy veteran. yea navy. >> and you are looking for a job today? >> yes. >> what kind of job? >> any kind. any kind will do. >> i am glad they are bringing it to the commune, a lot of jobs for the people that need it. >> jim the latest estimate is that some 5,000 people have come through here today seeking out applications and getting brief interviews as they vie for the 800 jobs, live in blackwood, vernon odom channel 6 "action news." >> thank you. coming up on "action news" tonight, firefighters in berks county had double duty today fighting flames and getting their fire engine out of a rough spot. and eagles players react to the row lease of the

the company behind retailers like calvin klein and tommy hilfiger reported earnings that topped estimates and hiked its profit outlook for the year. the firm also announcing a $500 billion share buy back. the stock was a fraction higher at 104.68. >>> elan musk is one of the most well known entrepreneurs. according to the los a times his companies were developed with the help of about $5 billion in government subsidies. y he called the article one sided and deceptive and made it clear that his companies provide economic benefits such as jobs. >> by adding up anything that's ever happened and things that will take the next 20 years to happen and putting that into a single number it makes it sound as though my company's getting some huge check. >> musk isn't alone. many big corporations receive a lot of money in government subsidies. aman jabbers has more on the financial relationship between private companies and public money. >> it won't shock you to find out that elan is not the only ceo to go around the country sidsdys and tax breaks. the study in 2012 looked at corporate welfare, they

by the way, calvin klein underwear if you go to macy's a giant selection at high prices.s are going up for underwear. prices going up for denim. >> really. why? >> the market can bear it. >> really? >> maybe this is too much information, but versus what i'm seeing in anniversary, you can handle this information. i said i go to tj max. he said people go to macy's they buy full price underwear and pvh is the winner. they've got that buyback. denim has been -- it's been ages since there's been price increases in denim. denim's been footballed. it's a lost leader. denim is back. margins on denim are gigantic. pvh isn't done. ralph lauren goes higher. >> people argue it's under armour or nike or lululemon stealing share. >> no one seems to care. nike is having the jordan renaissance. lulu was a currency problem. >> "wall street journal" spending a lot of ink on prices coming down with china with increased production of goods and increased demand for good. tires being a key example. auto, tire prices have come down sharply. >> monroe complained about that years ago. i didn't th

calvin klein?!nues) (rain fades away) (waves lapping, birds squawking) (indistinct chatter, gavel banging) owen: what happened? o-okay. o-okay. yeah, i... i will tell her. i love you, mom. good luck. ...you didn't know he had committed fraud? i've done a full inventory since fall. i resolved to give investigators my memos and e-mails. and you think that's the extent of your responsibility? look i run a software company, that's all. i'm involved in the big picture, not all these details. you mean details like defrauding the irs for $430 million? both: objection! yes. thank you.

it is the owner of calvin klein and tommy hilfiger. the earnings beat the estimate sales.pany came out with a forecast that was ahead of what analysts had estimated. on the other end we have delta. we have seen rocking us in the airlines on concerns about how much capacity could grow, and what that could have on pricing power. shares are down 3% after the revenue gauge declined more than forecasted. we are talking about passenger revenue from each mile. it will drop from 4% to 5%. some of thehts concerns in the industry. look at shake shack. there is no fundamental news, but the stock is up 2%. it has been a big mover, up and down. i want toate that, show you the 30 day volatility of shake shack. the white line has been trending upward in a big way. the orange line is volatility in 2000. it is deceiving because these are not to scale. for the the scale russell on one side, and shake shack on the other. the 30 day volatility on shake hack is 9.5. this has been a volatile stock versus its small peers over the last month or so. betty: so many people can have opinions. who kne

julie: the owner of calvin klein i thinky hilfiger -- where olivia sterns is mes,erned, if it is not not luxury. the dollar is going to have an impact. alix: thank you so much. we will be back with the closing bell. the dow jones up by 22 points. ♪ . alix: we are moments away from the closing bell. this is the bloomberg market day. you are looking at snob -- stocks snapping a two day losing streak. the dow settling up to 29 points. at one point up 95 points. still relatively higher on the day. the u.s. dollar hitting a 12 year high against the yen. is going into stocks. i am joined by the bloomberg markets managing editor and they don't collect merger monday for nothing. but is definitely part of the driver here. >> another deal in snapping the losing streak. $1.5 trillion of m&a

sharing this stripped down calvin klein shot with her 28.2 million instagram fans. taylor making their romance official with this pose two on the raft. brittany spears has a new hair cut. >> i change it up every so often. >> she wants the world to know it. posting this new do selfie and a pre-shopping snap before switching into this tank top for sushi. >> jennifer lawrence leggy in the cicity. hunting for a big apple apartment as rumors surface she might be take hawaiian couples trip with chris martin. his ex gwyneth paltrow and her new boyfriend brad falchuck. >> "shades of blue," badges on and posting a fresh face selfie. "shades of blue" coming out next year. >> one more photo for you. guess who the star was that showed up at work and got these flowers from her husband? >> renee has the answer. >> they dated for over five years before tying the knot five months ago. being married, still head over heels in love. gabrielle union and dwayne wade. dwayne knows how to keep the romance alivive sending the mrs. flowers at work. >> that still happens and you're married?

at the connecter building. 800 positions to fill at the stores including adidas banana republic calvin klein, that's just a few of the shops looking for managers and sales personnel. bring your resume highlighting retail experience as part time and full-time positions are up for grabs. our producers checked latest unemployment figures. camden county post 6.9% higher than the state average of 6.5%. interviews will take place at the connector building between 10:00 and 7:00 here at camden county college blackwood campus. the connector building is located between civic hall and the atrium on the college campus. we'll have more for you and hopefully catch the first person in line as the morning progresses. live now from blackwood, monique braxton, nbc 10 news. >> we know you'll get them monique. >>> started out as a girl scout project but it turned into a nearly full-time job for this young lady. rachel thorton is 12. she's already spending hours every day volunteering. her passion is fire safety. she teamed up with the red cross to teach fire safety classes. she started out teaching those class

outlets some of the retailers have been announced, you might recognize the names of banana republic, calvin kleini's, others not announced just yet. outlet center self still under construction, doesn't open for another two month, or so. but today from 10:00 a.m. until 7:00 p.m., here at camden county college, there is going to be a job fair. and if you are interested, come here, bring a resume, be ready to interview with hiring managers, it is quiet here, at the moment, nobody lined up for applications just yet. expecting to see hundreds of job seeker, it opens all 13th. >> i'm sure lots of folks will be looking for jobs, and we wish them the best in their job search out there today. thank you so much, mike. >> you bet. >> on your health watch this morning, the majority of children and teenagers in the u.s. are not properly hydrated. that's according to harvard researchers, doctors say even mild dehydration can cause headaches, irritability, poor physical performance lack of ability to think. they say that water is the best way to hydrate. rather than having a soda, juice or sports drink. >> and

know, as we were sort of standing there trying to get our photo taken in this incredible dress calvin kleining at us, and then they started to kind of get really in a frenzy. and try to like -- get behind us to someone else. and then they eventually just started going, "get out of the way! get out of the way! get out of the way!" [ laughter ] and then i turned around and it was kim kardashian and kanye west. [ laughter ] don't know if you heard of them. >> seth: yeah. >> but they showed up. so we quickly scampered aside. and you just know where you're -- >> seth: you were in a famous sandwich. you guys got to -- you were the meat in too famous of a sandwich. >> you can't really get any more famous than them. >> seth: yeah. >> yeah, i tried to smile at them but didn't get a smile back. [ laughter ] >> seth: it's a funny event, 'cause sometimes you get really -- 'cause it's so crowded you get really close to a person who is way more famous than you. and you have to be polite. you'll like, all of a sudden, turn and it will be like, madonna will just be here, and you go, "hey!" >> yeah! [ laugh

and then out of nowhere, reports stellar international numbers just last monday from calvin klein.t's lights out. 15 points up. retail is so inconsistent as to drive you crazy, which is saying something pretty amazing. sure, some changes are like clock work. sears tries to put lipstick on a pig. wal-mart stock down nearly 16% for the year. looks like there's no respite. costco's put up consistently good numbers, but not good enough. now the stock's been beaten to death from 153 to 138. it's enough for me to say hold it. retail's been a crap shoot. look elsewhere. but here's the bottom line. unless you have a special situation, like target or a long-term secular growth story like all the drugstores, i totally get how you are fed up with this group. i say stick with something that's got an edge or else, look elsewhere. sometimes you have to recognize that something's too hard. retail has just gotten too hard to profit from. a shame. jude in new jersey. jude? >> caller: hi, jim, how are you? >> all right how are you, jude? >> caller: your staff is terrific. >> indeed. >> caller: i hav

the performance was driven by the calvin klein brand. revenue is $1.8 billion verses 1.86 billion. the aparl and footwear expecting 685 to 695 for a share per full year. that's higher than the street experts and then $500 million three year stock buy pack and after hours of trading and that's three percent of the everybodyings. >> morgan thank you so much. >> be sure to tune in and it's ceo manny chirico and target's brian. >>> strides being made in cancer treatments. they need approval and up next we will talk to the kbaurd and south carolina senator graham announcing the can den si today. we will discuss and the strategy of fundraising coming up. you're watching cnbc first in business world wide. >>> welcome back to the tide. now at the american oncology conference and caught up with the point man on this fight. meg. >> reporter: that's right. the bigs is the therapy and the drugs that work by the system and they're being developed by bristol myers and many many other companies. one of the focuses here is the use of bio markets and the

published reports say that coty is buying products including calvin klein. p and g has been looking. routers and the new york post saying they're getting close. >> we used to joke about the idea that there could be a win/win. target and cvs were both up yesterday. but procter and coty are both up. if i were a banker it would be the greatest time in the world. this is really an alice in wonder land moment. coty trying to buy avon? notice i didn't say twavon. >> it got some pickup. >> it made a mistake. i thought things could get better and business would get better and major advertisers would come in. i didn't think that the monthly average users would do bad. i like the service. i think it's good. i can't believe i can't monotize it. the interview with david and with you guys last week was horrendous with dorsey. things happen -- sometimes you just get had. and i feel like that i got had on twitter and i admit it. i own that. i thought that it could be doing better. i still have hopes that maybe someone comes in or they put through things. obviously if peopl

people saw a 10% increase in same-store sales in the key calvin klein division.g that this is real. it's not just a short squeeze in the euro. i do think the euro got way too weak. i also remember what happened to the yen. they decided to weaken that forever. that is a market closed to us. we pretend it's open. >> right. their competitors are able to get higher on the run. we talked to meg whitman from hewlett-packard. she made the point time and again in terms of printing. they are seeing the japanese competitors really able to underprice them. >> right. only sales force has great numbers. cisco used to have dominant numbers in japan. i mention cisco because there are people upgrading alcatel lucent and ericsson. that is a mistake if the dollar peaked. >> to round out retail here. l-brands 5% increase of sales. >> we have j. crew numbers today. they are private. >> they have outstanding debt. >> lesley wexler is an amazing man. he is not a publicity hound. he never comes on. you go to columbus ohio. they might call wexler town. he is an incredible visionary. he

. >> next calvin klein model right here. >> when we come back cramer's mad dash.a look at futures. 30-year just topped the year to date close and the ten-year is closing in on 2.47. we're back in a minute. [dad]i wear a dozen different hats doing small gigs,side gigs...gig gigs. quickbooks self-employed helps me get ready for tax time. to separate expenses,i just swipe. it's one hat i don't mind wearing. [passenger] i work for me. and so does quickbooks. it estimates my taxes,so i know how much stays in my pocket. and that's how i own it. [announcer]stay in the flow with quickbooks self-employed. start your free,thirty-day trial today at join-self-employed-dot-com. ♪ >>> here on a friday. a summer friday at that. typically we do see lower volumes. a lot of people heading to the beach. where are we starting this morning? >> finish line. the last couple of quarters has been a disappointment. they have an instore macy's. they have been selling the nikes that were not what people liked. it's all changed. this was an excellent quarter. and i have finish line on mad mon

this is behind calvin klein, kenneth cole jones new york i can go on and on the shares are up about fivend a third percent. earnings per share of 15 cents with that be beats the estimate of seventh cents per share. sales $433 million versus $406 million for the average estimate. both beats there. they also raised their full year earnings and revenue guidance above analyst expectations consensus estimates. so on-balance is what you have against shares up by over 5%. relatively light, about 44,000 shares traded still on the apparel side of things interesting for a company that has a lot of fashion brands back over to you. >> dom, thank you very much. >>> moving on to today's new york times andrew pinning an article enentitled reflections on stress and long hours on wall street. first analysts endure a wall street firms on the flipside many silicon valley jobs are higher stressful, but we hear fewer complaints. here sam and chad who specializes in recruiting for the financial markets. welcome to you both. sam, is there a fundamentally different culture, a reason why we hear much more about

this is the maker of calvin klein and other aparableparel brands.ing stock buyback and a nice move today. a mixed quarter for dollar general. earnings beat by 3 cents. but revenue was slightly below what wasll street was looking for. stock is up $2. >>> our next guest wants the fed to raise rates and now. why? he argues it's the best thing for your portfolio. jeremy siegel professor of finance. when did you decide that this was important, jeremy? i'm sure that you thought for a while maybe it was time, right? >> well i would not say just now. in fact, i think if they go in june, which i think is a very low probability event, that won't be good. but i think if they go in september, i think the fourth quarter might be the very best quarter for stocks this entire year. because every one is positioned to say, oh, don't buy stocks before the fed raises rate. hold off before the fed raises rates. when they raise a quarter percent and sees the world does not end, they say, you know what, this wasn't so bad after all. so i think the anticipation of the rais