×
158
Fashion Jobs
PEEPAL HR ASSOCIATES (OPC) PVT LTD
Ceo Textile Business (Please Read The jd Before Applying)
Permanent · Hyderabad
VERUSCHKA
Social Media And PR Specialist
Permanent · MUMBAI
VERUSCHKA
E-Commerce Manager
Permanent · MUMBAI
H&M
E-Commerce Commercial Manager
Permanent · NEW DELHI
H&M
Area Facility Manager
Permanent · NEW DELHI
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
LEVI'S
Technical Product Manager
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
By
Reuters
Published
Sep 9, 2010
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Phillips-Van Heusen raises outlook, Q2 beats

By
Reuters
Published
Sep 9, 2010

Apparel maker Corp Phillips-Van Heusen Corp(PVH.N) raised its adjusted profit and revenue outlook for 2010, and reported better-than-expected second-quarter earnings.

Phillips-Van Heusen said on Monday it had a second quarter net loss, but excluding charges associated with its newly-acquired Tommy Hilfiger brand, the company reported earnings that beat analysts' estimates.

The company cited growth in all three of its units and said preppy casual brand Tommy Hilfiger contributed $532 million to revenues.

The Tommy Hilfiger deal, which closed in May, is expected to double the company's sales and is seen as a vehicle to expand internationally while increasing revenue from department stores.

The company also owns the Calvin Klein label and other sportswear lines such as Arrow, Izod and Bass, which it calls its heritage brands. It also makes apparel for licensed brands such as Michael Kors, Timberland and Nautica.

PVH raised its full-year adjusted earnings per share outlook to a range of $3.70 to $3.80, from $3.55 to $3.65 per share. It also raised its revenue projection to $4.44 billion to $4.47 billion for the year, from an earlier range of $4.35 billion to $4.4 billion.

Tommy Hilfiger is expected to contribute about $1.81 billion to $1.83 billion to total revenue, PVH said.

For the full year, Calvin Klein and PVH's heritage brands are expected to grow 10 to 11 percent on a combined basis, with same store sales for those two units up 7 percent to 8 percent.

In the second quarter ended Aug. 1, PVH posted a net loss of $54.6 million, or 83 cents per share, compared with a year-ago net profit of $26.6 million, or 51 cents per share.

Adjusting for the acquisition and integration of Tommy Hilfiger, the company posted earnings of 72 cents.

Analysts, on average, had been expecting adjusted earnings of 54 cents per share, according to Thomson Reuters I/B/E/S.

In June, PVH said it would likely beat its projected second-quarter earnings range of 50 cents to 52 cents per share.

Revenue rose 108 percent to $1.10 billion in the quarter, driven by $532 million from Tommy Hilfiger and an 8 percent increase in revenue from the company's Calvin Klein and Heritage brands businesses.

Wall Street, on average, had been expecting revenue of $1.09 billion.

The company said it expects third-quarter adjusted earnings per share of between $1.37 and $1.42 on revenue of $1.42 billion to $1.44 billion.

That compares to the $1.42 per share expected by analysts on revenue of $1.43 billion.

PVH said it had paid $100 million of its debt on its term loans ahead of schedule during the second quarter, and expected to repay another $300 million at the end of 2010, more than it had originally projected.

The $3 billion cash and stock deal to acquire Tommy Hilfiger from London-based Apax Partners has been one of the year's biggest but was viewed by some analysts as costly to PVH.

Shares rose to $51.13 after closing at $50.50, on the New York Stock Exchange.

(Reporting by Alexandria Sage; editing by Carol Bishopric)

© Thomson Reuters 2022 All rights reserved.