PVH Tops 3Q Profit View

NEW YORK, United States — PVH Corp. (PVH) on Wednesday reported profit of $225.7 million in its fiscal third quarter.

The New York-based company said it had profit of $2.71 per share. Earnings, adjusted for pretax gains, came to $2.56 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.48 per share.

The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.23 billion in the period, falling short of Street forecasts. Analysts expected $2.25 billion, according to Zacks.

For the current quarter ending in January, PVH expects its per-share earnings to range from $1.71 to $1.76. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.90.

The company said it expects revenue in the range of $2.1 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $2.19 billion.

PVH expects full-year earnings in the range of $7.25 to $7.30 per share, with revenue expected to be $8.3 billion.

PVH shares have decreased roughly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 12 percent. In the final minutes of trading on Wednesday, shares hit $124.34, a decline of nearly 6 percent in the last 12 months.