Calvin Klein-owner PVH Corp raises FY profit outlook after third-quarter revenue beat

FAN Editor
The logo of Calvin Klein watches is seen at the Baselworld fair in Basel
FILE PHOTO: Logo of Calvin Klein watches is seen at the Baselworld watch and jewellery fair in Basel, Switzerland, March 26, 2018. REUTERS/Arnd Wiegmann

November 25, 2019

(Reuters) – PVH Corp’s <PVH.N> raised full-year adjusted profit forecast on Monday, after its third-quarter revenue topped Wall Street expectations, powered by higher demand for its Calvin Klein and Tommy Hilfiger apparel in Europe.

Total revenue rose to $2.59 billion from $2.52 billion, above average analysts’ estimate of $2.54 billion, according to IBES data from Refinitiv.

The company now expects to earn between $9.43 and $9.45 per share for full year 2019, compared with its prior range of $9.30 to $9.40.

Net income attributable to the company fell to $209.2 million, or $2.82 per share, in the quarter ended November 3, from $243.1 million, or $3.15 per share, a year earlier.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi)

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