PVH Corp. on Wednesday topped Wall Street’s second-quarter earnings estimates and raised its full-year outlook, as strong demand for its Tommy Hilfiger and Calvin Klein brands offset rising costs and a challenging retail environment.
The New York-based owner of the Tommy Hilfiger, Calvin Klein, Van Heusen, Speedo and other brands reported second-quarter net income of $226.2 million, or $2.07 per share, up from $196.4 million, or $1.77 per share, a year earlier.
Analysts polled by Refinitiv IBES, on average, had expected a profit of $1.95 per share.
Total revenue rose 12% to $2.29 billion from $2.04 billion, also topping analysts’ average estimate of $2.27 billion.
PVH’s shares rose 3% to $87.59 in premarket trading.
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