PVH Corp. reported second-quarter sales and earnings that beat Wall Street estimates on Thursday and raised its full-year profit forecast, as strong demand for its Tommy Hilfiger and Calvin Klein brands offset rising costs and supply chain disruptions.
Net income rose to $205.3 million, or $2.48 per share, in the three months ended July 30, from $186.2 million, or $2.27 per share, a year earlier. Analysts polled by Refinitiv IBES had expected a profit of $2.33 per share.
Revenue increased 10% to $2.33 billion, beating estimates of $2.29 billion. It was PVH’s second consecutive quarter of double-digit revenue growth.
The company said its Tommy Hilfiger and Calvin Klein brands continued to perform well, driven by strong demand for casual and athleisure wear. It also benefited from price increases implemented to offset rising costs.
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