Phillips-Van Heusen (PVH) reported earnings for the fourth quarter earlier this week. How does the stock look now that the latest numbers are out?

Well, from a fundamental point of view, things are looking pretty good. According to Reuters, the apparel concern made an adjusted 93 cents per share. Talk about a beat: that number was ten pennies above the consensus projection. In terms of guidance, management expects to bring in an adjusted profit between $4.70 and $4.95 per share over the next fiscal year; Wall Street was thinking that $4.75 per share was likely.

Analyst Upgrades

• Citigroup upgraded Colgate (CL) and Phillips-Van Heusen (PVH) to buy from hold.
• Wells Fargo upgraded IDACORP (IDA) to outperform from market perform.
• Union Pacific (UNP) was upgraded to outperform from neutral at RW Baird.
• Goldman upgraded Quicksilver (KWK) to neutral from sell.
• Republic Airways (RJET) was upgraded to buy from hold at Deutsche Bank.
• BofA/Merrill upgraded GAMCO Investors (GBL) to neutral from underperform.
• Senior Housing (SNH) was upgraded to outperform from market perform at JMP Securities.

Even though Americans are still concerned about the economy, anemic employment growth and saving enough for the future, it looks like consumers are starting to make their way back to the malls and department stores -- which is a good sign for Phillips-Van Heusen (PVH).

Macy's (M) reported same store sales rose 4.8% during September, and JCPenney (JCP) reported same store sales rose 5.1% during the same period. This is music to Phillips-Van Heusen's ears because the company owns a large amount of floor space in both of these department stores.

Analyst Upgrades

• Merriman upgraded Penn National (PENN) to buy from neutral, citing the company's strong balance sheet and management team. The firm also raised its target range for shares to $34 to $37.60.
• BMO Capital upgraded Cooper Companies (COO) to outperform from market perform and raised its price target to $55 from $46. The firm sees upside to Street estimates and increased visibility.
• Argus upgraded Watson Pharma (WPI) to buy from hold based on valuation.
• Phillips-Van Heusen (PVH) was upgraded to conviction buy from neutral at Goldman.
• Allstate (ALL) was upgraded to overweight from neutral at JPMorgan.
• Weingarten Realty (WRI) was upgraded to neutral from underperform at BofA/Merrill.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Adobe Systems Inc. (ADBE) reported that Q1 revenue was up but earnings declined sharply, and it offered guidance.
• Best Buy Inc. (BBY) shares rallied after it topped Q4 earnings expectations and offered encouraging guidance.
• Brinker International Inc. (EAT) raised its outlook for fiscal 2010 and also increased its quarterly dividend.
• China Automotive Systems Inc. (CAAS) reported that its revenue had doubled and it beat earnings expectations.
• ConAgra Foods Inc. (CAG) Q3 earnings matched estimates and revenue was flat, and it reaffirmed its outlook.
• Finish Line Inc. (FINL) shares rallied after it reported that Q4 earnings came in better than analysts' expected.

Phillips Van-Heusen Corp. (PVH) issued Q4 numbers Monday after the bell. The apparel maker, which recently purchased the Tommy Hilfiger brand, doubled its adjusted income to 61 cents per share. That was two pennies ahead of estimates. The top line increased 9%, also on an adjusted basis.

When you compare the fourth quarter's growth rates to the performance of the full fiscal year, you'll see a clear advantage to the former. This is hopefully indicative of a bright future course.

They say that politics makes for strange bedfellows. So does retailing. For example, there is a New York outfit with subsidiaries that include the largest selling shoe maker in America, a well-known creator of trendy fashions, an equally well known maker of sports knits and the number one dress shirt producer in the world.

Phillips-Van Heusen (NYSE: PVH) markets clothes, sunglasses and shoes for men, women and children under its Van Heusen, Bass, Calvin Klein and IZOD brands. It also sells items under licensed names and private labels. Products are distributed to wholesale clients and through the firm's own outlet stores, which operate under the names of its various brands. Customers include Kohl's (NYSE: KSS) and JCPenney (NYSE: JCP).

The company pleased investors late last month, when it announced Q2 EPS of 70 cents and revenues of $552.4 million. Analysts had been looking for 62 cents and $540.6 million. The CEO noted that all PVH businesses experienced revenue and earnings growth, despite recent challenges in the overall retail environment. Management also guided Q3 EPS to $1.02-$1.03 ($1.02 consensus), Q3 revenues to $705 million ($652.29M consensus), FY08 EPS to $3.15-$3.17 ($3.10 consensus) and FY08 revenues to $2.44 billion ($2.42B consensus). Lehman Brothers and Wedbush Morgan subsequently reiterated "buy" ratings on the issue and declared price targets in the $69-$70 range.

Phillips-Van Heusen (NYSE:PVH) sells clothes, sunglasses, and shoes for men, women, and children under its Van Heusen, Bass, Calvin Klein, and IZOD brands, as well as licensed names and private labels. Products are distributed to wholesale clients and through the firm's own outlet stores.

The company pleased investors late last month, when it announced Q3 EPS of 89 cents and revenues of $568.3 million. Analysts were looking for 84 cents and $563.7 million. Management also guided Q4 EPS to 43 cents (43 cent consensus), Q4 revenues to $528-$532 million ($483.70M consensus), FY07 EPS to $2.59 ($2.53 consensus), FY07 revenues to $2.06-$2.07 billion ($2.01B consensus) and FY08 EPS to $2.97-$3.05 ($2.92 consensus).

The CEO cited strength in the Calvin Klein brand and growth in the retail outlet and wholesale sportswear businesses for success. Four brokerages subsequently reiterated "buy" ratings on the issue and declared price targets in the range $56-$62.