PVH Corp. reported second-quarter sales and earnings that topped Wall Street estimates on Thursday and raised its full-year profit outlook, helped by strong demand for its Calvin Klein and Tommy Hilfiger brands..
**Second-Quarter Results**.
Net sales rose 7% to $2.32 billion, beating analysts’ average estimate of $2.28 billion, according to Refinitiv data..
Diluted earnings per share gained to $2.17 from $2.00 a year earlier, surpassing expectations of $2.05 per share..
**Brand Performance**.
Calvin Klein’s revenue jumped 11% to $948 million, while Tommy Hilfiger’s sales grew 4% to $855 million. The Heritage Brands segment, which includes Van Heusen, IZOD, and ARROW, saw a 2% increase in sales to $521 million..
**Full-Year Outlook**.
PVH now expects full-year earnings per share of $8.90 to $9.15, up from its prior forecast of $8.65 to $8.95. The company also raised its sales growth outlook to 5% to 6%, from 4% to 5%..
**Market Reaction**.
Shares of PVH rose 1.5% to $90.60 in premarket trading..
**Analyst Commentary**.
