The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — PVH Corp. on Wednesday reported fiscal third-quarter profit of $126.2 million.
The New York-based company said it had profit of $1.56 per share. Earnings, adjusted for non-recurring costs, came to $2.60 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.24 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.23 billion.
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For the current quarter ending in January, PVH expects its per-share earnings to range from $1.13 to $1.18. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.30.
The company expects full-year earnings in the range of $6.70 to $6.75 per share.
PVH shares have climbed 44 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 8 percent. In the final minutes of trading on Wednesday, shares hit $105.94, an increase of 16 percent in the last 12 months.
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