PVH Corp. (PVH), the parent company of Calvin Klein, Tommy Hilfiger, and other popular fashion brands, reported better-than-expected second-quarter sales and raised its full-year earnings forecast on Thursday, despite ongoing global economic headwinds..
**Financial Highlights:**.
* **Revenue:** Net sales rose 11% to $2.40 billion, exceeding analysts’ estimates of $2.37 billion..
* **Comparable Sales:** Comparable sales increased 8%, driven by growth in both its retail and wholesale channels..
* **Earnings:** Adjusted earnings per share (EPS) came in at $3.01, beating Wall Street’s consensus estimate of $2.91..
* **Gross Margin:** Gross margin expanded by 130 basis points to 58.7%, reflecting price increases and cost management initiatives..
* **Inventory:** PVH reduced its inventory by 2% compared to the same period last year, indicating strong inventory management..
**Business Performance:**.
* **Calvin Klein:** The brand’s revenue increased by 11%, with strong sales across all product categories..
* **Tommy Hilfiger:** Revenue grew by 10%, driven by strength in both its sportswear and denim lines..
* **Heritage Brands:** The company’s heritage brands, including Van Heusen and IZOD, reported a 12% increase in revenue..
* **International:** International sales rose by 13%, with particularly strong growth in Europe and Asia..
**Outlook:**.
PVH raised its full-year earnings forecast, now expecting adjusted EPS in the range of $11.50-$11.75. This represents an increase from the previous guidance of $11.25-$11.50. The company cited strong consumer demand, particularly in the premium and value segments..
**CEO Commentary:**.
Stefan Larsson, CEO of PVH, expressed optimism about the company’s future, stating, .
