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PVH Corp. profit misses consensus by 33.9% in fiscal Q2

PVH Corp. said its normalized net income for the fiscal second quarter ended Aug. 3 came to 94 cents per share, compared with the S&P Capital IQ consensus estimate of $1.43 per share.

EPS rose year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $78.4 million, an increase from $23.8 million in the prior-year period.

The normalized profit margin increased to 4.0% from 1.2% in the year-earlier period.

Total revenue came to $1.98 billion, compared with $1.96 billion in the year-earlier period, and total operating expenses declined year over year to $1.82 billion from $1.88 billion.

Reported net income totaled $126.5 million, or $1.52 per share, compared to a loss of $5.7 million, or a loss of 7 cents per share, in the year-earlier period.