Calvin Klein Parent PVH's Q2 Earnings Top Estimates On Strong Asia Pacific Performance
Portfolio Pulse from Shivani Kumaresan
PVH Corp reported Q2 FY23 sales growth of 4% YoY to $2.21 billion, beating the analyst consensus of $2.19 billion. The increase was driven by growth in the Tommy Hilfiger and Calvin Klein businesses, particularly in the Asia Pacific region. The company also raised its FY23 non-GAAP EPS outlook to about $10.35 from the previous $10.00. PVH's planned stock repurchases in 2023 has been increased to about $400 million.
August 30, 2023 | 11:21 am
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PVH Corp reported strong Q2 FY23 results, beating analyst estimates. The company also raised its FY23 non-GAAP EPS outlook and increased its planned stock repurchases for 2023.
PVH Corp's strong Q2 FY23 results and the increase in its FY23 non-GAAP EPS outlook indicate a positive financial performance, which is likely to boost investor confidence and potentially drive the stock price up in the short term. The company's decision to increase its planned stock repurchases for 2023 also signals its confidence in its future performance, which could further positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100