Shares of PVH Corp. PVH dropped nearly 4% in the extended session Wednesday after the parent of Calvin Klein and other clothing brands reported first-quarter earnings above Wall Street expectations but may have spooked investors by reporting rising inventories. PVH earned $136 million, or $2.14 a share, in the quarter, compared with $133 million, or $1.94 a share, in the year-ago period. Adjusted for one-time items, the company earned $2.25 a share. Sales rose 2% to $2.16 billion and came in above guidance, the company said. FactSet consensus called for EPS of $1.94 on sales of $2.12 billion. Inventories rose 24%, however,…
