PVH Corp., the owner of Calvin Klein and Tommy Hilfiger, reported second-quarter sales on Wednesday that beat Wall Street estimates, driven by strength in its core brands and regions.
The company now expects full-year earnings to be at the high end of its previous guidance range.
**Quarterly Performance**
Net sales for the three months ended July 2, 2023, were US$2.09 billion, up 6% compared to US$1.97 billion in the prior-year period. On a constant currency basis, sales increased 7%.
Tommy Hilfiger’s revenue rose 5% to US$1.03 billion, while Calvin Klein’s sales grew 8% to US$747 million. The company’s Heritage Brands segment, which includes brands like Van Heusen and Arrow, saw a 4% increase in sales to US$314 million.
Diluted earnings per share were US$1.78, compared to US$1.73 in the second quarter of 2022.
**Outlook**
PVH raised its full-year earnings per share guidance to a range of US$9.00 to US$9.10. The company had previously forecast earnings of US$8.80 to US$9.00 per share.
PVH CEO Stefan Larsson said in a statement that the company is .
