PVH Q2 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - PVH Corp. (PVH) reported net income for the second quarter of $102.2 million or $1.22 per share, compared to $126.5 million or $1.52 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $114.7 million or $1.37 per share, compared to $125.5 million or $1.51 per share in the prior year quarter.

Total revenue for the second quarter fell 6% to $1.86 billion from $1.98 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $1.29 per share on revenue of $1.82 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue decline of about 3% and adjusted earnings of $2.45 to $2.50 per share. Analysts currently expect the company to earn $2.46 per share on revenue decline of 1.80% for the third quarter.

For the full year, the company now forecasts revenue decline of about 2% and adjusted earnings of $6.90 to $7.00 per share. Previously, the company forecast revenue decline of about 3% and adjusted earnings of $6.85 to $6.95 per share.

Analysts currently expect the company to earn $6.92 per share on revenue decline of 3.2% for the fiscal year 2015.