PVH: Fiscal 3Q Earnings Snapshot
NEW YORK (AP) _ PVH Corp. (PVH) on Thursday reported fiscal third-quarter net income of $243.1 million.
The New York-based company said it had profit of $3.15 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $3.21 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.14 per share.
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.52 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $2.53 billion.
For the current quarter ending in January, PVH expects its per-share earnings to range from $1.58 to $1.60. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.59.
The company expects full-year earnings in the range of $9.33 to $9.35 per share.
PVH shares have declined 20 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2 percent. In the final minutes of trading on Thursday, shares hit $109.77, a decrease of 20 percent in the last 12 months.