PVH Corp, the parent company of iconic brands Calvin Klein and Tommy Hilfiger, released its third-quarter financial results today. Despite reporting slightly lower revenue than expected, PVH remains optimistic about its performance for the rest of the year.

Revenue and Earnings

In Q3, PVH earned $230 million, or $2.66 per share. This marks a significant improvement from the prior-year period when they reported a loss of $214 million, or $2.88 per share. Adjusted for one-time items, the company’s earnings per share stood at $2.90.

While revenue rose by 4% to $2.36 billion, it fell slightly below Wall Street’s expectations. Analysts had anticipated adjusted earnings per share of $2.74 on sales of $2.4 billion.

Full-Year Outlook

Despite the revenue miss, PVH is confident in its ability to deliver positive results for the full year. The company forecasts a 1% increase in its annual revenue. Furthermore, PVH has raised its outlook for full-year adjusted earnings per share to approximately $10.45, up from the previous estimate of $10.35.

PVH credits this upward revision to the “significant progress” it has made in North America, indicating a promising outlook for the future.

PVH Corp is determined to continue its upward trajectory, leveraging the strength of its renowned fashion brands to drive growth and deliver value to its shareholders.

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