Dec 1 PVH Corp expects the growing
popularity of its Tommy Hilfiger and Calvin Klien brands in
international markets to help it outperform estimates in the
Clothier PVH's third-quarter results trumped Wall Street
estimates, prompting it to raise its full-year earnings outlook.
The company expects significant growth in the United
Kingdom, France, the Middle East and Russia in the fourth
KEY POINTS: Q3 2011 I/B/E/S Q3 2010
Revenue $1.65 bln $1.62 bln $1.52 bln
Net income $112.2 mln $99.8 mln
GAAP EPS $1.54 $1.39
Adj EPS $1.89 $1.81 $1.67
* Revenue at Calvin Klein rose 11 pct, while Tommy Hilfiger
sales rose 17 pct
* Revenue at Heritage Brands dropped 2 pct
* Sees FY 2011 non-GAAP EPS $5.23-$5.25 vs est $5.12
* Sees FY 2011 rev $5.83 bln-$5.85 bln vs est $5.82 bln
* Sees Q4 2011 non-GAAP EPS $1.03-$1.05 vs est $1.01
* Sees Q4 2011 rev $1.47 bln-$1.49 bln vs est $1.49 bln
* Shares of the company were trading up 3 percent at $69.90
after the bell. They had closed at $67.62 on Thursday on the New
York Stock Exchange.
* Chief Executive Emanuel Chirico expects the current
momentum in the Tommy Hilfiger and Calvin Klien brands,
including a strong Thanksgiving weekend, to continue in the
* Chirioco said the company had a strong start to November,
with both Calvin Klien and Tommy Hilfiger performing better than
expected despite increases in retail prices.
* PVH shortened its name from Phillips-Van Heusen Corp
earlier this year, as the majority of its sales now comes from
its Calvin Klein and Tommy Hilfiger brands rather than Van
* In October, the company had reaffirmed its full-year
earnings outlook of $5.12 a share.