Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

PVH Corp Raises Profit Forecast On Strong Earnings

The Calvin Klein and Tommy Hilfiger owner's total sales reached $2.59 billion during the third quarter.
Calvin Klein store | Source: Shutterstock
By
  • Reuters

NEW YORK, United States — PVH Corp. raised its full-year adjusted profit forecast on Monday after its third-quarter results beat Wall Street expectations, powered by higher demand for its Calvin Klein and Tommy Hilfiger apparel in Europe.

The New York-based company has been trying to attract Millennial shoppers by sponsoring social media influencers including 23-year-old model Bella Hadid, singer Billie Eilish and British F1 racer Lewis Hamilton to promote its brands.

Total revenue rose 2.5 percent to $2.59 billion, above average analysts' estimate of $2.54 billion, according to IBES data from Refinitiv.

The company now expects to earn between $9.43 and $9.45 per share for full year 2019 on an adjusted basis, compared with its prior range of $9.30 to $9.40.

ADVERTISEMENT

Sales at Tommy Hilfiger, its biggest revenue generator, jumped about 10 percent to $1.24 billion.

Calvin Klein, which is recovering from the fashion missteps it made last year, saw sales rise marginally to $968.9 million.

Excluding items, the company earned $3.10 per share, beating average analysts' estimate of $3 per share.

Net income attributable to the company fell to $209.2 million, or $2.82 per share in the quarter ended November 3, from $243.1 million, or $3.15 per share, a year earlier.

Shares of the New York-based company were slightly up at $101 in aftermarket trading.

By Praveen Paramasivam; editor: Vinay Dwivedi

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.

Marine Serre: From Radical to Pragmatist

Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.


Who Gets to Buy a Birkin Bag?

Hermès’ elusive sales strategy is at the centre of a new legal challenge for the French luxury giant. BoF breaks down the practices under scrutiny and what the suit could mean for the fashion industry at large.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections