PVH Beats Street 2Q Forecasts

NEW YORK, United States — PVH Corp. on Wednesday reported fiscal second-quarter earnings of $102.2 million.

The New York-based company said it had profit of $1.22 per share. Earnings, adjusted for non-recurring costs, were $1.37 per share.

The results exceeded Wall Street expectations. The average estimate of eight 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 $1.86 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.83 billion.

For the current quarter ending in November, PVH expects its per-share earnings to range from $2.45 to $2.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.43.

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

PVH shares have declined 13 percent since the beginning of the year, while the Standard & Poor's 500 index has declined 6 percent. In the final minutes of trading on Wednesday, shares hit $111.60, a fall of almost 6 percent in the last 12 months.