Shares of PVH Corp., which sells brands like Tommy Hilfiger, Izod and Bass, fell Thursday after the clothing company warned that a recent acquisition will require more investment than it initially anticipated and weigh on its earnings for the year. PVH bought rival The Warnaco Group in a deal worth $2.9 billion that closed last month and solidified its control of the Calvin Klein clothing brand. PVH said late Wednesday that the investments needed in Warnaco are higher than it initially anticipated so it can rebuild its Calvin Klein denim and underwear business. The company said it plans to invest in its supply chain, product design, marketing and staff to help improve its business, along with lowering excess inventory levels and reducing sales of its brand in off-price sites. As a result of those investments, the company expects the Warnaco deal will reduce its 2013 earnings by 25 cents per share. The news came as the company reported that its fourth-quarter net income more than doubled, easily beating Wall Street predictions. But the company issued lower-than expected profit predictions for the current quarter and fiscal year. Despite the lackluster outlook, analysts were upbeat and focused on the company's long-term prospects. "Investing in the Calvin Klein brand globally should create revenue opportunities for 2014 and beyond, which combined with global growth of the Tommy Hilfiger brand creates consistent mid-teens earnings per share growth potential," Cowen and Co.'s John Kernan wrote in a note to investors. PVH shares are up about 2% since the start of this year.