PVH Rises After Second-Quarter Profit Tops EstimatesKevin Orland
PVH Corp., the owner of the Calvin Klein and Van Heusen clothing brands, rose in late trading after posting second-quarter profit that topped analysts’ estimates, helped by rising sales of Tommy Hilfiger apparel.
The shares climbed as much as 6.7 percent to $125 at 4:07 p.m. in New York. The stock had slid 14 percent this year through the close of regular trading today.
Profit excluding some items was $1.51 a share in the quarter through Aug. 3, the New York-based company said today in a statement. Analysts estimated $1.43, on average.
Sales in the Tommy Hilfiger unit rose 8.9 percent to $870.4 million in the quarter, PVH said today. Total revenue climbed 0.5 percent to $1.98 billion, almost matching analysts’ $1.99 billion average projection.