PVH Corp. beat Wall Street’s second-quarter estimates on Thursday and raised its full-year outlook, driven by strong demand for its Tommy Hilfiger and Calvin Klein brands, sending its shares up about 3% in premarket trading.
The owner of the Van Heusen, Izod, Arrow, Speedo and Warner’s brands reported a 26% rise in net income to $226.5 million, or $2.95 per share, for the quarter ended July 3.
Analysts on average had expected earnings of $2.74 per share, according to Refinitiv IBES data.
PVH reported a 7% increase in net revenue to $2.26 billion, helped by a 9% rise in sales of its Tommy Hilfiger global brand and a 4% increase in revenue from Calvin Klein global brands.
Its digital sales increased 15% to $410 million, reflecting a 21% increase in demand for its Tommy Hilfiger brand online.
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