PVH trounces 1Q profit and revenue estimates thanks to booming Tommy Hilfiger sales

Tommy Hilfiger revenue jumped 21% in the quarter to US$1bn
Calvin Klein also produced a big profit in the first quarter

PVH Corp., the owner of Calvin Klein and Tommy Hilfiger, crushed Wall Street’s estimates for its first-quarter revenue and profit thanks to booming clothing sales.

The retail group’s earnings per share for the opening three months of the year came to US$2.36 on revenue of US$2.3bn. These figures sped past analysts’ estimates of US$2.25 per share on revenue of US$2.28bn.

The big winner in the quarter was Tommy Hilfiger, which saw its revenue jump 21% in the quarter to US$1bn. Calvin Klein also produced a sizeable profit, with its revenue climbing 18% in the quarter to US$890mln.

PVH is now forecasting that its earning per share will fall US$2.05 to US$2.10 on an adjusted basis in the second quarter.

For the full year, on an adjusted basis, the company also raised its forecast and now projects that its earnings will fall between US$9.05 and $9.15.

PVH shares fell 1% to $153.70 in after-hours trading.

View full PVH profile View Profile

Phillips-Van Heusen Corporation Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © personabelovo.ru, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.