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Q2FY17 revenue at apparel marketer PVH rises 4%
30
Aug '16
Courtesy: PVH
Courtesy: PVH
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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