US-China trade dispute weighing on retail sector

Pressure from the trade dispute between the U.S. and China is weighing on the retail sector, with shares of many in the industry falling in premarket trading on Thursday.

Retailers have seen their shares seesaw this week as they express concern over tariffs squeezing their businesses. The latest is PVH Corp., owner of the Calvin Klein and Tommy Hilfiger brands, which said late Wednesday that it was cutting its full-year adjusted earnings forecast partly because of the U.S.-China trade dispute.

"The volatile and challenging macroeconomic backdrop has continued into the second quarter, with particular softness across the U.S. and China retail landscape," PVH Chairman and CEO Emanuel Chirico said in a statement.

Shares of PVH dropped 10.5 percent before the market open Thursday, after sliding 7.2 percent this week.