PVH Corp. reported upbeat second-quarter results, surpassing market expectations, and raised its full-year earnings forecast on the back of a strong performance across its diverse brand portfolio..
**Key Financial Highlights**.
* **Revenue:** $2.31 billion, up 10% year-over-year and exceeding analyst estimates of $2.25 billion..
* **Net Income:** $240.4 million, an increase of 18% compared to $203.2 million in Q2 2022..
* **Diluted EPS:** $2.36, surpassing consensus estimates of $2.28 per share..
**Brand Performance**.
PVH’s growth was driven by solid performances across its key brands:.
* **Calvin Klein:** Revenue climbed 12%, fueled by strength in both its North American and international businesses..
* **Tommy Hilfiger:** Sales increased by 9%, with strong demand in sportswear, footwear, and accessories..
* **Van Heusen:** Revenue rose by 7%, supported by growth in its dress shirt and dress pants categories..
* **IZOD:** Sales grew by 6%, driven by increased demand for its activewear and sportswear offerings..
**Regional Performance**.
All of PVH’s geographic regions contributed to the overall growth:.
* **North America:** Revenue rose by 10%, with strong demand across all brands..
* **Europe:** Sales increased by 10%, despite ongoing macroeconomic challenges..
* **Asia-Pacific:** Revenue growth of 14%, driven by strength in China and other key markets..
**Raised Outlook**.
Based on the strong Q2 performance, PVH raised its full-year earnings forecast:.
* **Revenue:** Projected to be in the range of $9.7 billion to $9.8 billion, up from the previous estimate of $9.55 billion to $9.75 billion..
* **Adjusted Diluted EPS:** Expected to be between $11 and $11.25, an increase from the prior guidance of $10.75 to $11.25..
**Management Commentary**.
PVH Chairman and CEO Stefan Larsson expressed optimism about the company’s prospects: .
