Piper Jaffray Raises Price Target on PVH Corp. (PVH) to $109 Following 1Q Beat
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PVH Corp. Reports 2016 First Quarter Results above Guidance and Raises Full Year Non-GAAP EPS Guidance
May 25, 2016 4:15 PM EDTRevenue increased 3% on a constant currency basis (increased 2% on a GAAP basis to $1.92 billion) compared to the prior years first quarter revenue of $1.88 billion. The Calvin Klein and Tommy Hilfiger businesses outperformed revenue expectations. EPS was $1.50 on a non-GAAP basis, inclusive of a $0.50 per share negative impact compared to the prior year related to foreign currency exchange rates, exceeding previous guidance of $1.40 to $1.45. EPS growth on a non-GAAP and constant currency basis was 33% compared to the prior years first quarter. EPS was $2.83 on a GAAP basis compared to... More
