Double-digit revenue and profit growth at its two designer divisions allowed PVH Corp. to overcome weakness in the Heritage Brands unit and post second-quarter profits comfortably ahead of Wall Street’s and its own expectations.
For the three months ended July 31, the company reported net income of $66.7 million, or 92 cents a share, versus a loss of $70.6 million, or $1.07 a share, in the second quarter of 2010, when it concluded its purchase of Tommy Hilfiger. Stripping out extraordinary items, including those related to the acquisition, earnings per share for the quarter were $1.07, 12 cents better than the guidance provided in June and subsequently adopted by analysts.
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)