PVH Corporation Reports Strong Performance, Raises Guidance

**PVH Corporation Reports Strong Performance, Raises Guidance**.

PVH Corporation, the parent company of fashion brands Calvin Klein, Tommy Hilfiger, and Heritage Brands, has reported strong financial results for the second quarter of 2023. The company’s performance exceeded guidance and prompted an upward revision of its full-year earnings forecast..

**Financial Highlights:**.

* Net sales increased by 3% year-over-year to $2.3 billion, driven by growth in the company’s Tommy Hilfiger and Heritage Brands segments..

* Diluted earnings per share (EPS) were $2.15, a 10% increase compared to the prior year..

* Adjusted diluted EPS, excluding certain items, was $2.34, exceeding the company’s guidance range of $2.20 to $2.25..

**Segment Performance:**.

* **Tommy Hilfiger:** Sales grew by 5% to $1.1 billion, supported by strong demand in North America, Europe, and Asia. The segment benefited from the success of its Spring 2023 collection and ongoing brand initiatives..

* **Calvin Klein:** Sales increased by 1% to $779 million, driven by growth in the brand’s underwear and intimates business. The segment continued to execute its global brand refresh strategy and expand its digital presence..

* **Heritage Brands:** Sales climbed by 7% to $371 million, fueled by the ongoing success of the Speedo and Van Heusen brands. The segment’s international business performed particularly well, with strong growth in Europe and Latin America..

**Full-Year Guidance:**.

* PVH Corporation raised its full-year 2023 revenue guidance to a range of $9.75 billion to $9.80 billion from the previous range of $9.65 billion to $9.75 billion..

* Adjusted diluted EPS guidance was increased to a range of $9.20 to $9.30 from the previous range of $9.00 to $9.20..

**Management Commentary:**.

Stefan Larsson, PVH Corporation’s CEO, expressed optimism about the company’s future prospects: .