Strength at Tommy Hilfiger and Calvin Klein helped offset weakness at PVH Corp.’s heritage brands unit and send the company’s first-quarter revenues and profits well above its own guidance and Wall Street’s estimates.
In the three months ended April 29, the New York-based apparel giant saw net income expand 61.5 percent to $93.1 million, or $1.27 a diluted share, from $57.7 million, or 79 cents, in the year-ago quarter. Excluding special items, adjusted earnings per share was $1.30 against the analyst consensus estimate of $1.26 and PVH’s most recent guidance update, issued last month, that it would be “at least at the high end” of earlier projections for non-GAAP EPS of $1.23 to $1.25.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)