PVH Corp., the owner of brands including Tommy Hilfiger and Calvin Klein, reported better-than-expected second-quarter sales, lifted by strength in its core North American market and a rebound in its international business..
**Q2 Results:**.
* **Revenue:** $2.36 billion, a 12% increase year-over-year, beating analysts’ estimates of $2.31 billion..
* **Diluted EPS:** $2.33, compared to $1.93 in the same period last year, exceeding consensus estimates of $2.25..
* **Gross Margin:** 57.7%, up from 56.8% in Q2 2022, reflecting higher selling prices and cost optimization initiatives..
* **Net Income:** $305 million, a 21% increase from $252 million in Q2 2022..
**Business Segment Performance:**.
* **Tommy Hilfiger:** Revenue rose 13% to $1.1 billion, driven by growth in all channels and regions..
* **Calvin Klein:** Revenue increased 11% to $838 million, led by strong performance in North America and Europe..
* **Heritage Brands:** Revenue climbed 10% to $422 million, benefiting from increased demand for dress shirts and tailored clothing..
**Geographic Performance:**.
* **North America:** Revenue grew 14% to $1.4 billion, fueled by robust consumer spending and store traffic..
* **International:** Revenue rose 8% to $956 million, with strong recovery in Europe and continued momentum in Asia..
**Outlook:**.
Given the better-than-expected results, PVH raised its full-year 2023 earnings forecast:.
* **Revenue:** Projected to be between $9.9 billion and $10.0 billion, up from the previous guidance of $9.8 billion to $9.95 billion..
* **Diluted EPS:** Now expected to range from $9.90 to $10.10, compared to the earlier projection of $9.60 to $9.85..
**Management Commentary:**.
PVH CEO Stefan Larsson attributed the company’s performance to its .
