PVH Corp. (PVH) Tops Q2 EPS by 9c, Issues Light Q3, FY14 Revs Outlook

(Updated - September 3, 2014 4:22 PM EDT)

PVH Corp. (NYSE: PVH) reported Q2 EPS of $1.51, $0.09 better than the analyst estimate of $1.42. Revenue for the quarter came in at $1.98 billion versus the consensus estimate of $1.99 billion.

Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, “We are pleased with our second quarter performance, which exceeded our earnings per share guidance. Despite the anticipated difficult macroeconomic environment, we successfully navigated through heightened promotional activity in North America and volatility in certain key international markets. We believe the global macroeconomic environment will remain under pressure, yet we are cautiously optimistic about the second half of the year. We believe we are well-positioned to achieve earnings per share growth on a non-GAAP basis in excess of 15% for the second half of the year, as we anniversary our strategic investments in our acquired businesses, introduce our new Fall Calvin Klein jeanswear product and presentations at retail, and experience improving trends in our Southern European business.”

Mr. Chirico concluded, “The opportunity that we identified with the Warnaco acquisition remains significant and we believe that the strategic investments made during 2013 and 2014, along with our strong balance sheet and continued debt repayment, will enable us to capitalize on long term global growth opportunities and deliver stockholder value.”

PVH Corp. sees FY14 revenue of about $8.4 billion, versus the consensus of $8.47 billion. Non-GAAP EPS outlook of $7.30 to $7.40 was reaffirmed.

PVH Corp. sees Q314 revenue of about $2.25 billion, versus the consensus of $2.33 billion. The company sees Q3 non-GAAP EPS of $2.45 to $2.50, while estimates are at $2.49.

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

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