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PVH's Sales Hit $2.5 Billion Last Quarter

The owner of the Calvin Klein and Tommy Hilfiger brands topped Wall Street forecasts.
Calvin Klein Autumn/Winter 2017
By
  • Associated Press

NEW YORK, United States — PVH Corp. on Wednesday reported fiscal fourth-quarter profit of $108.5 million.

On a per-share basis, the New York-based company said it had profit of $1.39. Earnings, adjusted for non-recurring costs, came to $1.58 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.

The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.5 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.34 billion.

For the year, the company reported profit of $537.8 million, or $6.84 per share. Revenue was reported as $8.91 billion.

For the current quarter ending in May, PVH expects its per-share earnings to range from $2.20 to $2.25. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.95.

The company expects full-year earnings in the range of $9 to $9.10 per share.

PVH shares have climbed 5 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen roughly 3 percent. In the final minutes of trading on Wednesday, shares hit $144.04, a rise of 40 percent in the last 12 months.

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