PVH Corp. stated that it currently expects its earnings per share on both a GAAP and non-GAAP basis for the fourth quarter and full year 2016 to be at least at the top end of its guidance ranges previously announced on November 30, 2016.
The company owns Calvin Klein, Tommy Hilfiger, Van Heusen, Izod, Arrow, Speedo, Warner’s and Olga. The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International Ltd.
Full-Year Guidance
For the year, the company had projected that 2016 earnings per share on a GAAP basis would be in a range of $6.51 to $6.56 compared to $6.89 in the prior year. The company projected that 2016 earnings per share on a non-GAAP basis would be in a range of $6.70 to $6.75 compared to $7.05 in the prior year.
For the fourth quarter, earnings per share on a GAAP basis were projected to be in a range of 99 cents to $1.04 compared to $1.63 in the prior-year period. The company had projected that fourth-quarter 2016 earnings per share on a non-GAAP basis would be in a range of $1.13 to $1.18 compared to $1.52 in the prior-year period.
