PVH Corp reported a better-than-expected rise in second-quarter sales on Thursday, driven by strength in its Tommy Hilfiger and Calvin Klein divisions, and raised its full-year earnings forecast.
Net income rose to $179.7 million, or $1.96 per share, in the second quarter ended July 2, from $169.2 million, or $1.86 per share, a year earlier.
Net sales rose 3% to $2.37 billion, with Tommy Hilfiger sales rising 9% and Calvin Klein sales increasing 2%.
Analysts on average had expected earnings of $1.91 per share on revenue of $2.33 billion, according to IBES data from Refinitiv.
The owner of the Van Heusen, Speedo and Olga brands said it now expects full-year adjusted earnings per share of $9.80 to $9.95, up from its prior forecast of $9.65 to $9.85.
PVH shares rose 4% to $86.40 in premarket trading.
The company was boosted by strong growth in China, where sales rose 17% in the quarter.
North American comparable sales rose 6%, with Tommy Hilfiger sales up 10% and Calvin Klein sales increasing 2%.
PVH Chief Executive Officer Stefan Larsson said the company is continuing to focus on improving profitability and driving long-term growth.
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