PVH Corp. (PVH) Tops Q3 EPS by 8c; Trims FY EPS Outlook

PVH Corp. (NYSE: PVH) reported Q3 EPS of $2.56, $0.08 better than the analyst estimate of $2.48. Revenue for the quarter came in at $2.23 billion versus the consensus estimate of $2.26 billion.

PVH Corp. sees FY2014 EPS of $7.25-$7.30, versus prior guidance of $7.3-$7.40 and the consensus of $7.37.

CEO Comments:

Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, “Despite the anticipated difficult macroeconomic environment, we are very pleased with our third quarter performance, driven by the strength of our Tommy Hilfiger business and an improvement in our Calvin Klein business. During the quarter, we saw our global strategic initiatives in our Calvin Klein jeans business begin to take hold, with improved performance in our newly installed shop environments and store refits. Additionally, our acquisition integration efforts remain on track, with the last phase to be completed during 2015.”

Mr. Chirico continued, “We continue to plan the fourth quarter prudently. Given that the U.S. dollar has strengthened significantly against several major currencies over the last three months, we have revised our full year earnings per share guidance to $7.25 - $7.30. We believe the geopolitical environment and economic volatility experienced globally over the past nine months will continue and that we can successfully navigate through the upcoming holiday selling season, which we expect will be very competitive and highly promotional.”

Mr. Chirico concluded, “We remain firm in our belief that the strength of our brands, together with the strategic investments made during 2013 and 2014, along with our strong balance sheet and continued debt repayment, will position us to deliver long term global growth and stockholder value.”

For earnings history and earnings-related data on PVH Corp. (PVH) click here.

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