Yahoo Finance Live’s Julie Hyman breaks down the rise in stock for PVH Corp. following fourth-quarter earnings.
Shares of PVH (NYSE: PVH) were surging today after the apparel company and owner of brands like Calvin Klein and Tommy Hilfiger posted better-than-expected results in its fourth-quarter earnings report. In a difficult retail environment, PVH said that revenue in the fourth quarter rose 2%, or 8% in constant currency, to $2.489 billion, which easily beat estimates at $2.37 billion and its own guidance, which called for a decline in revenue of 4%. It also said Tommy Hilfiger and Calvin Klein helped drive the company's overall growth.
Despite macroeconomic challenges, PVH Corp's (PVH) Q4 results gain from brand strength, particularly Calvin Klein and Tommy Hilfiger, and contributions from the PVH+ Plan