Boosted by a tax benefit of $30.4 million and stronger-than-expected performances at all of its wholesale and retail divisions, Phillips-Van Heusen Corp.’s earnings jumped more than 50 percent in the third quarter. The company, whose brands include Calvin Klein, Izod, Van Heusen and Arrow, also raised its full-year earnings forecast.
Net income for the three months ended Nov. 1 was $83.6 million, or $1.58 a diluted share, up 55.6 percent from $53.7 million, or $1.03, in the year-ago quarter. Excluding the tax benefit and nonrecurring expenses, earnings per share was $1.08 in the quarter.
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)