(PVH) Phillips-Van Heusen Corporation – Recently Hiked Full-Year Earnings Guidance

December 7th, 2009

Phillips-Van Heusen Corporation (PVH) announced third-quarter results in mid-November. Earnings per share of $1.08 came in 21% ahead of the Zacks Consensus Estimate. Revenue of $697.4 million was relatively flat year-over-year.

Management stated that the improvement in business trends the company experienced in the second quarter intensified during the third quarter and contributed to the surpassing of PVH’s previous revenue and earnings guidance.

Phillips-Van Heusen added that the global strength of the Calvin Klein brand was evident in the third quarter’s 9% growth in royalty revenue. Additionally, as consumers have demanded more and more value, PVH’s IZOD, ARROW and Van Heusen brands have also benefitted.

Bullish Forecasts

The company recently hiked its full-year earnings guidance to a range of $2.59 to $2.63 per share.

Analysts polled by Zacks are in agreement as evidenced by current full-year forecasts of $2.65 per share. Last month, analysts were projecting earnings of $2.49.

For the following year, the Zacks Consensus Estimate of $2.99 per share was revised upward from last month’s $2.91.

Alex Kolb is the Growth & Income Stock Strategist for Zacks.com. He also writes the popular daily commentary column for the ZacksElite.com service.

Zacks Investment Research

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