Second-quarter income soared at Phillips-Van Heusen Corp., beating its own guidance through the strength of the Calvin Klein brand.
The company said Wednesday that for the three months ended Aug. 5, net income rose 31.6 percent to $39.1 million, or 68 cents a diluted share, from $29.7 million, or 53 cents, in the same year-ago quarter. Included in the quarter were $2.2 million pre-tax costs, or 2 cents a share, in connection with the start-up of the firm's Timberland wholesale sportswear business and Calvin Klein better specialty retail stores. In May the company expected earnings per share of 61 cents. Total revenues rose 20.4 percent to $552.4 million, which included a 20.1 percent jump in sales to $488.9 million, from $458.9 million.
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)