NEW YORK — Double-digit growth at Tommy Hilfiger and Calvin Klein supplied more than enough ammunition to help PVH Corp. overcome lingering weakness in its Izod sportswear business and post fourth-quarter profits above its own estimates and those of Wall Street.
Investors were heartened by revised guidance from the New York-based apparel powerhouse calling for adjusted earnings of between $6.10 and $6.20 for the full year, ahead of the $5.90 to $6 projection provided in January. PVH said profit growth would be “heavily weighted” toward the second half of the year, in contrast to its projection two months ago that earnings expansion would “occur entirely in the second half of the year.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"