PVH: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ PVH Corp. (PVH) on Wednesday reported fiscal first-quarter earnings of $82 million.
The New York-based company said it had profit of $1.08 per share. Earnings, adjusted for non-recurring costs, came to $2.46 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.36 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.37 billion.
For the current quarter ending in August, PVH expects its per-share earnings to range from $1.85 to $1.90. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.40.
The company expects full-year earnings in the range of $10.20 to $10.30 per share.
PVH shares have risen roughly 7% since the beginning of the year, while the Standard & Poor’s 500 index has risen 11%. In the final minutes of trading on Wednesday, shares hit $99.25, a decrease of 36% in the last 12 months.