Home / Knowledge / News / Apparel/Garments / PVH Corp clocks better-than-expected Q2 FY'12
PVH Corp clocks better-than-expected Q2 FY'12
28
Aug '12
PVH Corp. reported 2012 second quarter and year to date results.

Overview of Second Quarter Results:

  • Earnings per share was $1.25 on a non-GAAP basis, which exceeded the Company’s guidance and represents a 17% increase over the prior year period’s non-GAAP earnings per share of $1.07.
  • GAAP earnings per share was $1.19 and represents a 29% increase over the prior year period’s GAAP earnings per share of $0.92.
  • Revenue of $1.337 billion was relatively flat as compared to the prior year period and was negatively impacted by $56 million, or 4%, attributable to foreign currency translation ($41 million) and the exit from the Izod women’s and Timberland wholesale sportswear businesses ($15 million). On a constant currency basis and excluding the impact of exited businesses, revenue increased 4%.

Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, “Our better than expected second quarter results reflect the continued momentum and ongoing operating efficiencies across our business model. The exceptional performance of Tommy Hilfiger allowed us to exceed our earnings expectations, despite the cost pressures and the economic uncertainty that have impacted the global marketplace.

“The strength of the Tommy Hilfiger brand was epitomized by the brand’s performance in Europe despite the ongoing economic headwinds in that region. In addition, Calvin Klein continued to post solid revenue increases in the quarter despite the soft performance of the global jeans and underwear businesses. Excluding the planned shift of advertising expenditures into the quarter, Calvin Klein would have generated improved operating performance over last year.”

Mr. Chirico added, “We have raised our full year earnings guidance based on our better than expected second quarter performance, the positive impact from lower product costs beginning with Fall deliveries and our belief that the strength of our brands will continue to drive revenue and profitability increases throughout the remainder of 2012.”

Click here to read more details:

PVH Corp.


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search