PVH Corp (NYSE:PVH), the company behind the Calvin Klein and Tommy Hilfiger brands, topped estimates in its second-quarter results and raised its full-year outlook.
The apparel company reported earnings of US$2.18 per share on revenue of US$2.33bn compared with US$1.69 on revenue of US$2.07bn in the previous year’s first quarter.
The New York-based company surpassed Wall Street estimates of US$2.10 EPS on revenue of $2.29bn.
Revenue in the Calvin Klein segment jumped 18% to US$925mln while Tommy Hilfiger revenue was up 15% to US$1bn.
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The fashion retailer’s brand portfolio also includes Van Heusen, IZOD, ARROW and Warner’s as well as licensed brands such as MICHAEL Michael Kors, Kenneth Cole New York and DKNY.
The company announced Tuesday that its IZOD brand would be expanding into Europe this fall and be made available to customers in Spain, Germany, the Netherlands and Scandinavia.
For the year ahead, its earnings guidance was raised to US$9.20 to US$9.25 from its prior guidance of US$9.05 to US$9.15.
“We are increasing our revenue and earnings guidance for the year, while continuing to take a prudent approach to planning our business in the second half of the year, as we experience increasing macroeconomic and geopolitical volatility around the world,” said CEO Emanuel Chirico in the company’s press release.
Shares of PVH Corp were up less than 1% to US$157.80 in Wednesday after-hours trading.