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PVH Beats 2Q Profit Forecasts

PVH Corp. reported fiscal second-quarter profit of $90.5 million.
Calvin Klein Autumn/Winter 2016 campaign | Source: Calvin Klein
By
  • Associated Press

NEW YORK, United States — PVH Corp. on Wednesday reported fiscal second-quarter profit of $90.5 million.

The New York-based company said it had profit of $1.11 per share. Earnings, adjusted for non-recurring costs, came to $1.47 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $1.93 billion in the period.

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For the current quarter ending in November, PVH expects its per-share earnings to range from $2.35 to $2.40. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.37.

The company expects full-year earnings in the range of $6.55 to $6.65 per share.

PVH shares have risen 48 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 6 percent. In the final minutes of trading on Wednesday, shares hit $108.82, a climb of slightly more than 1 percent in the last 12 months.

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