PVH Corp. Reports 2014 Second Quarter Results Wed September 3, 2014 4:02 PM|Business Wire | About: PVH
• SECOND QUARTER NON-GAAP EPS WAS $1.51, EXCEEDING GUIDANCE OF $1.40 TO $1.45; SECOND QUARTER GAAP EPS WAS $1.52 • COMPANY REAFFIRMS FULL YEAR NON-GAAP EPS GUIDANCE OF $7.30 TO $7.40, WHICH IMPLIES SECOND HALF NON-GAAP EPS GROWTH IN EXCESS OF 15%
NEW YORK--(BUSINESS WIRE)-- PVH Corp. (NYSE:PVH) reported 2014 second quarter results.
Non-GAAP Amounts:
Non-GAAP amounts discussed in this release exclude the items that are described in this release under the heading Non-GAAP Exclusions. Reconciliations of GAAP to non-GAAP amounts are presented later in this release and identify and quantify all excluded items.
Overview of Second Quarter Results: • Earnings per share on a non-GAAP basis was $1.51 as compared to $1.39 in the prior years second quarter. • GAAP earnings per share was $1.52 as compared to the prior years second quarter loss per share of $(0.07). • Revenue was $1.98 billion, an increase of 4% as compared to the prior years second quarter amount excluding $62 million of revenue related to the Bass business (which was sold during the fourth quarter of 2013). Revenue increased 1% as compared to the prior year period including the Bass revenue. Revenue increased 9% in the Companys Tommy Hilfiger business and 1% in the Companys Calvin Klein business. Revenue in the Companys Heritage Brands business was flat to the prior year excluding the $62 million of 2013 Bass revenue and decreased 13% including such revenue.
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