Shares of PVH Corp. rose 3.2 percent in after-hours trading Monday after the firm reported that strong results from the Calvin Klein brand helped boost first-quarter earnings more than expected.

The company also instituted a three-year, $500 million stock repurchase plan and, despite continuing pressure from currency fluctuation and volatile economic conditions, raised full-year guidance.

In the three months ended May 3, PVH’s net income tripled to $114.1 million, or $1.37 a diluted share, from $35.2 million, or 42 cents, in the 2014 quarter. Stripping out currency effects and other one-time items, adjusted earnings per share hit $1.50, 12 cents above the $1.38 expected, on average, by analysts.

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Revenues declined 4.3 percent, to $1.88 billion from $1.96 billion, while rising 3.3 percent on a constant currency basis. Gross margin dropped 20 basis points to 52.4 percent of revenues from 52.6 percent a year ago.

While Calvin Klein’s worldwide revenues fell 1.7 percent, to $653.9 million from $665.3 million, they were up 5.1 percent at constant currency, and the brand saw earnings before interest and taxes increase 21.4 percent to $89.7 million. By contrast, Tommy Hilfiger’s revenues were down 11.1 percent, to $767.1 million from $862.4 million, while adding just 0.7 percent at constant currency. EBIT at Hilfiger fell 20.1 percent to $92.1 million from $115.2 million.

Noting that the strength of the Calvin Klein business had allowed PVH to exceed first-quarter guidance, Emanuel Chirico, chairman and chief executive officer of PVH, commented, “Strong underlying fundamentals in our international Calvin Klein and Tommy Hilfiger businesses [were] partially offset by softness in our U.S. Calvin Klein and Tommy Hilfiger businesses, where a strong U.S. dollar negatively impacted international tourist spending.”

North American revenues were up 0.4 percent at Calvin Klein, to $338.8 million, while falling 2.4 percent at Tommy Hilfiger, to $353.9 million.

PVH raised guidance for adjusted EPS to a range of $6.85 to $6.95 from the previous range of $6.75 to $6.90. The earlier guidance assumed $1.30 in currency effects on EPS while the updated one assumes currency headwinds and a negative impact from the company’s Russian business totaling $1.25 a share.

Shares rallied 3.2 percent to $108 in the first hour of after-hours trading after rising less than 0.1 percent to $104.68 during the day’s regular trading session.

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