Market Overview

PVH Beats Earnings Estimates, Lowers Guidance

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PH Corp (NYSE: PVH) shares ticked lower after posting a second-quarter earnings beat.

Earnings came in at $2.10, beating estimates by 21 cents. Sales came in at $2.36 billion, beating estimates by $30 million. The company issued weak 2019 earnings guidance.

"We are pleased to report our second quarter results, which saw continued outperformance by our European businesses. However, our businesses in North America and across China experienced weak traffic trends, including the impact of protests in Hong Kong, resulting in a more promotional environment," said Emanuel Chirico, Chairman and CEO.

"Although we are pleased with our second quarter and first half results, we have taken a conservative approach to our second half outlook. As such, we lowered our annual revenue and EPS outlook based on our current trends and our expectation that the volatility in the macro environment, the global retail landscape and the continuing escalation of the trade tensions between the U.S. and China will cause our business to remain under pressure, as will the ongoing impact of protests in Hong Kong.

Highlights

  • Tommy Hilfiger increased 8% year-over-year to $1.1 billion
  • Calvin Klein decreased 6% year-over-year $873 million
  • Revenue increased 1% year-over-year

PVH shares were down 0.81% at $70.99 in the after-hours session.

Posted-In: Emanuel ChiricoEarnings News Guidance

 

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