PVH Corp., the parent company of Calvin Klein and Tommy Hilfiger, reported strong second-quarter results on Thursday, posting sales that beat guidance and raising its full-year earnings forecast..
**Second-Quarter Results**.
* Net sales increased 2% to $2.23 billion, exceeding the consensus estimate of $2.21 billion..
* Diluted earnings per share rose 10% to $2.55, beating the analyst consensus of $2.48..
* Adjusted earnings per share jumped 13% to $2.64..
**Sales by Brand**.
* Calvin Klein: Sales rose 4% to $868 million, driven by strength in its jeans and underwear businesses..
* Tommy Hilfiger: Sales declined 1% to $1.08 billion, impacted by softness in Europe and the Americas..
* Heritage Brands: Sales rose 5% to $276 million..
**Outlook**.
PVH raised its full-year earnings forecast, reflecting its strong second-quarter performance and an improved outlook for the second half of the year. The company now expects:.
* Diluted earnings per share in the range of $10.50 to $10.70, up from its previous guidance of $10.10 to $10.30..
* Adjusted earnings per share in the range of $10.60 to $10.80, up from its previous guidance of $10.20 to $10.40..
**CEO Commentary**.
Stefan Larsson, PVH Chairman and CEO, commented on the results: .
