Apparel maker PVH on Wednesday forecast full-year adjusted profit and sales above Wall Street expectations, banking on higher demand for its Tommy Hilfiger branded apparels and accessories.
Shares of the Calvin Klein owner, which also reported better-than-expected fourth-quarter sales and profit, rose 10 percent after the bell.
PVH forecast full-year adjusted profit between $10.30 and $10.40 per share, the mid-point of which is above analysts' estimate of $10.31. Sales at Tommy Hilfiger, the biggest contributor to PVH's sales, rose 2.3 percent to $1.2 billion during the reported quarter. The company expects the brand's sales to grow about 6 percent in full-year 2019.
However, sales in Calvin Klein, its second biggest unit, fell 2 percent during the fourth quarter, dragged down by continued softness in the Calvin Klein Jeans business in North America.
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