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Shares are up 7.3% in Friday trading after the fashion company announced earnings guidance for the fourth quarter and detailed a restructuring of the Calvin Klein brand. PVH's portfolio also includes Tommy Hilfiger and Speedo. PVH expects fourth-quarter adjusted earnings per share of 'at least' $1.75, ahead of the $1.70 FactSet consensus. Full-year 2018 EPS is expected to be 'at least' $9.50, also ahead of the $9.45 FactSet guidance. PVH will shutter the Calvin Klein flagship in New York City, relaunch the CALVIN KLEIN 205W39NYC business, focus on digital, and streamline the jeans and sportswear business. UBS analysts say the announcement signals 'three bullish points': the Calvin Klein brand isn't getting weaker, concerns that China and Europe would hurt PVH aren't coming to pass, and the Calvin Klein denim business isn't a drag on earnings.