US: PVH lifts earnings target on Calvin Klein and Hilfiger
Apparel group PVH Corp has lifted its earnings outlook for the third quarter and full year reflecting the strong performance of its Tommy Hilfiger business in North America and its Calvin Klein brand.
The New York-based clothing firm now expects full-year earnings per share to be in the range of $6.32 to $6.37, compared with previous guidance of between $6.25 and $6.32.
Meanwhile, third-quarter earnings per share are forecast to be between $2.28 and $2.30, compared to earlier guidance of $2.20 to $2.25.
The company also revealed it is currently "outpacing" the planned turnaround in its Heritage Brands wholesale business in the second half of the year.
PVH previously raised its full-year guidance in August on the back of better-than-expected second quarter profit growth, led by the company's Tommy Hilfiger brand.
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