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PVH lifts FY'18 earnings outlook after beating Q1 estimates

PVH Corp. on May 30 raised its EPS guidance for full-year 2018 after reporting first-quarter earnings that exceeded analysts' expectations.

The New York-based apparel retailer, which owns the Calvin Klein and Tommy Hilfiger brands, now expects full-year EPS on a non-GAAP basis to range between $9.05 and $9.15, higher than the prior guidance of $9 to $9.10 it provided March 28.

For the second quarter, PVH expects EPS on a non-GAAP basis to be in the range of $2.05 to $2.10.

"We experienced broad-based strength across our businesses globally and our performance underscored the power of our diversified business model and the continued momentum in our global designer lifestyle brands, Calvin Klein and Tommy Hilfiger," PVH Chairman and CEO Emanuel Chirico said in the release.

The full-year guidance revision came on the back of a year-over-year increase in net income for the fiscal first quarter, which came in at $184.8 million, compared to $130.2 million in the three months ended April 30, 2017.

Diluted EPS came in at $2.36, higher than the S&P Capital IQ mean consensus estimate of $2.25.