Q2FY17 revenue at apparel marketer PVH rises 4%

30 Aug '16

2 min read

For the three months ended July 31, 2016, revenue at US apparel marketer PVH Corp, which has brands like Calvin Klein, Tommy Hilfiger and Heritage in its fold, rose 4 per cent over the fiscal ago quarter on a GAAP basis to $1.93 billion. However, turnover grew 5 per cent on a constant currency basis, compared to the prior fiscal's second quarter.

Of this, sales in the Calvin Klein business climbed 12 per cent year on year to $726 million on a GAAP basis and increased 15 per cent on a constant currency basis in the second quarter of fiscal 2017.

In the reporting quarter, revenue in the Tommy Hilfiger business rose 6 per cent to $860 million on a GAAP basis, while on constant currency basis; it drove up 7 per cent over the same period of fiscal 2016

Earnings per share for the quarter under review stood at $1.11 on a GAAP basis compared to $1.22 in the previous fiscal's same quarter. Earnings per share on a non-GAAP basis were $1.47.

According to PVH, non-GAAP earnings per share exceeded previous guidance of $1.25 to $1.30 and include a $0.46 per share negative impact related to foreign currency exchange rates.

The apparel marketer updated its non-GAA earnings per share guidance for the full fiscal and now expects it to be in the range of $6.55 to $6.65 as against the previous guidance of $6.45 to $6.55. (AR)

Fibre2Fashion News Desk – India

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