PVH Beats 3Q Profit Forecasts

NEW YORK, United States — PVH Corp. on Wednesday reported fiscal third-quarter profit of $221.9 million.

On a per-share basis, the New York-based company said it had net income of $2.67. Earnings, adjusted for one-time gains and costs, came to $2.66 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.

The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.16 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $2.17 billion.

For the current quarter ending in January, PVH expects its per-share earnings to range from $1.37 to $1.47. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.60.

The company expects full-year earnings in the range of $6.90 to $7 per share.

PVH shares have declined 27 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1 percent. In the final minutes of trading on Wednesday, shares hit $93.38, a decline of 23 percent in the last 12 months.