Calvin Klein parent PVH sees ‘solid’ revenue growth in Asia

PVH Corp. shares
PVH,
+3.11%
rose more than 2% in the extended session Tuesday after the parent of Calvin Klein and Tommy Hilfiger brands reported second-quarter earnings and sales above Wall Street expectations, saying it saw solid growth in sales in Asia. PVH earned $94.2 million, or $1.50 a share, in the quarter, compared with $115.3 million, or $1.72 a share, in the year-ago period. Adjusted for one-time items, the company earned $1.98 a share. Revenue rose 4% to $2.21 billion, with growth for both Tommy Hilfiger and Calvin Klein brands, and a “solid performance” in Asia, the company said. Analysts polled by FactSet expected adjusted earnings of $1.76 a share on sales of $2.19 billion. For the full year, PVH reaffirmed its guidance of a revenue increase of 3% to 4%, and a non-GAAP EPS around $10.35. FactSet consensus calls for adjusted EPS of $10.04 for the year. The stock ended the regular trading day up 3.1%.