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PVH Corp. profit misses consensus by 23.7% in fiscal Q1

PVH Corp. said its normalized net income for the fiscal first quarter ended May 4 came to $1.14 per share, compared with the S&P Capital IQ consensus estimate of $1.49 per share.

EPS rose year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $94.5 million, an increase from $8.1 million in the prior-year period.

The normalized profit margin increased to 4.1% from 0.4% in the year-earlier period.

Total revenue grew on an annual basis to $1.96 billion from $1.91 billion, and total operating expenses fell year over year to $1.78 billion from $1.85 billion.

Reported net income totaled $34.9 million, or 42 cents per share, compared to a loss of $10.4 million, or a loss of 13 cents per share, in the year-earlier period.