PVH posts bigger quarterly profit

Tue Nov 27, 2012 4:44pm EST

Nov 27 (Reuters) - Clothing maker PVH Corp posted a bigger quarterly profit despite a slight drop in sales, as its higher margin Calvin Klein and Tommy Hilfiger businesses grew faster.

For the third quarter ended Oct. 28, the company, which recently bought The Warnaco Group to unite the Calvin Klein underwear, jeans and sportswear lines, earned $165.41 million, or $2.24 a share - up from $112.24 million, or $1.54 a share, a year earlier.

Revenue was $1.64 billion, compared with $1.65 billion.

Shares of the company closed at $109.29 Tuesday on the New York Stock Exchange.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.