Why PVH Stock Was Climbing This Week
Week to date, shares of PVH (NYSE: PVH) were up 14% as of 12:56 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. The stock jumped following better-than-expected earnings results earlier this week.
Revenue came in at $2.28 billion, beating the consensus analyst estimate that expected the company to report $2.23 billion. Excluding currency changes, revenue grew in the high-single digit range, which is solid in light of inflation and supply chain headwinds that retailers are struggling with. Management credited price increases and strong demand in North America, in addition to solid execution internationally.
Looking at each brand's performance, Tommy Hilfiger revenue rose 7% year over year on a constant-currency basis, while Calvin Klein turned in slightly better growth of 9%.
Source Fool.com
