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UPDATE 2-PVH sees Tommy Hilfiger, Calvin Klien spurring growth
December 1, 2011 / 9:51 PM / 6 years ago

UPDATE 2-PVH sees Tommy Hilfiger, Calvin Klien spurring growth

Dec 1 (Reuters) - PVH Corp expects the growing
popularity of its Tommy Hilfiger and Calvin Klien brands in
international markets to help it outperform estimates in the
holiday quarter.	
    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
quarter.      	
 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 

	
    MARKET REACTION/COMMENTARY:    	
    * 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
coming quarter.
    * 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.

    BACKGROUND/LINKS	
    * 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
Heusen. 
    * In October, the company had reaffirmed its full-year
earnings outlook of $5.12 a share.

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