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PVH Corp. profit misses consensus by 93.6% in fiscal Q4

PVH Corp. said its normalized net income for the fiscal fourth quarter ended Feb. 1 amounted to 11 cents per share, compared with the S&P Capital IQ consensus estimate of $1.73 per share.

EPS fell 94.9% year over year from $2.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $9.2 million, a decline of 94.8% from $177.7 million in the year-earlier period.

The normalized profit margin fell to 1.3% from 8.7% in the year-earlier period.

Total revenue came to $2.07 billion, compared with $2.05 billion in the prior-year period, and total operating expenses rose 14.0% year over year to $1.96 billion from $1.72 billion.

Reported net income came to $51.3 million, or 61 cents per share, compared to a loss of $37.0 million, or a loss of 46 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $4.20 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.26.

EPS was $4.23 in the prior year.

Normalized net income was $349.9 million, compared with $349.7 million in the prior year.

Full-year total revenue amounted to $8.24 billion, compared with $8.19 billion in the prior year, and total operating expenses came to $7.50 billion, compared with $7.45 billion in the prior-year period.

The company said reported net income increased on an annual basis to $439.0 million, or $5.27 per share, in the full year, from $143.7 million, or $1.74 per share.