PVH Corp (PVH)

[MCArmel1]

Phillips-Van Heusen beats by $0.08, beats on revenue

Aug 26 2015, 16:05 ET | By: Jignesh Mehta, SA News Editor

Phillips-Van Heusen (NYSE:PVH): Q2 EPS of $1.37 beats by $0.08.

Revenue of $1.86B (-6.1% Y/Y) beats by $40M.

Press Release

http://seekingalpha.com/news/2747436-phillips-van-heusen-beats-by-0_08-beats-on-revenue?uprof=45#email_link


PVH Corp. Reports 2015 Second Quarter Results Above Guidance and Raises Full Year EPS Guidance on a Non-GAAP Basis
Wed August 26, 2015 4:01 PM|Business Wire | About: PVH

• Second Quarter EPS on a Non-GAAP Basis of $1.37 Exceeded Previous Guidance of $1.25 to $1.30; GAAP EPS Was $1.22
• Company Raises Full Year 2015 EPS Guidance to $6.90 to $7.00 on a Non-GAAP Basis, from Previous Guidance of $6.85 to $6.95
• Full Year 2015 EPS on a Non-GAAP and Constant Currency Basis is Currently Expected to Grow 12% to 14% Compared to Prior Year, Exceeding Previous Guidance of 11% to 12%
• 2015 Second Quarter EPS and Full Year EPS Guidance on a Non-GAAP Basis Include a Negative Impact of $0.31 and $1.30, Respectively, Primarily Related to Foreign Currency Exchange Rates

NEW YORK--(BUSINESS WIRE)-- PVH Corp. (PVH) reported 2015 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. Amounts stated on a constant currency basis are also considered to be non-GAAP measures. 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 $1.37, inclusive of a $0.31 negative impact primarily related to foreign currency exchange rates compared to the prior year. Earnings per share on a non-GAAP basis excluding the negative impact primarily related to foreign currency exchange rates was $1.68, or an increase of 11% compared to the prior years second quarter earnings per share on a non-GAAP basis of $1.51.
• GAAP earnings per share was $1.22 compared to $1.52 for the prior years second quarter.
• Revenue increased 2% on a constant currency basis (decreased 6% on a GAAP basis) compared to the prior years second quarter revenue of $1.98 billion. As compared to the prior years second quarter, revenues increased 5% in the Tommy Hilfiger business on a constant currency basis (decreased 7% on a GAAP basis); increased 3% in the Calvin Klein business on a constant currency basis (decreased 4% on a GAAP basis); and decreased 6% in the Heritage Brands business.

More...

http://seekingalpha.com/pr/14508666-pvh-corp-reports-2015-second-quarter-results-above-guidance-and-raises-full-year-eps-guidance-on-a-non-gaap-basis