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PVH Corp. profit misses consensus by 23.3% in fiscal Q2

PVH Corp. said its normalized net income for the fiscal second quarter ended Aug. 2 came to 99 cents per share, compared with the S&P Capital IQ consensus estimate of $1.29 per share.

EPS climbed 5.0% year over year from 94 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $82.5 million, a gain of 5.3% from $78.3 million in the prior-year period.

The normalized profit margin rose to 4.8% from 4.0% in the year-earlier period.

Total revenue decreased 5.6% on an annual basis to $1.86 billion from $1.98 billion, and total operating expenses declined 6.1% on an annual basis to $1.71 billion from $1.82 billion.

Reported net income decreased 19.4% on an annual basis to $101.9 million, or $1.22 per share, from $126.5 million, or $1.52 per share.