3 minutes

PVH Corp (PVH) 3Q16 Results: Beats on EPS; Updates FY16 Outlook

Primary Analyst: Coresight Research
Contributors
Primary Analyst: Coresight Research
Insight Report

Executive Summary

  • PVH Corp. reported 3Q16 adjusted EPS of $2.60, ahead of the $2.35–$2.40 consensus estimate but down 2.3% year over year. Revenues were $2.24 billion, up 3.7% year over year and in line with the consensus estimate.
  • Calvin Klein was the strongest-performing brand in the quarter, with revenues up 9% year over year, or 10% in constant currency. Europe and China were the regions with the strongest sales.
  • The company updated its FY16 guidance, and now expects EPS of $6.51–$6.56 compared with $6.89 in the prior year. Previous guidance called for EPS of $7.50–$7.60.
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