PVH: Fiscal 2Q Earnings Snapshot
NEW YORK (AP) _ PVH Corp. (PVH) on Wednesday reported fiscal second-quarter earnings of $193.5 million.
The New York-based company said it had net income of $2.58 per share. Earnings, adjusted for non-recurring gains, came to $2.10 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.36 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.33 billion.
For the current quarter ending in November, PVH expects its per-share earnings to range from $2.95 to $3. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.53.
The company expects full-year earnings in the range of $9.30 to $9.40 per share.
PVH shares have fallen 23% since the beginning of the year, while the Standard & Poor’s 500 index has increased 15%. In the final minutes of trading on Wednesday, shares hit $71.57, a drop of 54% in the last 12 months.