New York—PVH Corp. reported Monday second quarter adjusted earnings that beat estimates, but shares in the maker of Tommy Hilfiger, Timberland and Calvin Klein merchandise were down today due to the company’s conservative third quarter forecast.
For the quarter ended August 4, PVH reported a net loss of $16 million, or 20 cents a share, compared with a profit of $89.9 million, or $1.22 a share, a year ago. Excluding acquisition expenses related to its Warnaco deal, PVH’s adjusted earnings were $1.39, ahead of analysts’ average estimate for $1.36 a share.
Net revenue rose 47% to $1.97 billion buoyed by strong sales of Tommy Hilfiger, which offset slower Calvin Klein sales in Southern Europe. PVH bought Warnaco in February, a deal which added $507 million in sales.
Excluding the expiration of this contract and the loss of Warnaco royalties, royalty revenue increased 10%, driven by continued strength in women’s sportswear, handbags and accessories, as well as suits and footwear.
Echoing sentiments expressed in recent second quarter reports from Saks Inc. to Walmart, PVH gave a third quarter forecast that missed analysts’ estimate.
The company forecast third quarter adjusted earnings of about $2.20 a share and revenue of $2.2 billion. Analysts’ consensus expects earnings of $2.28 a share on revenue of $2.23 billion.
Speaking to analysts on a conference call, CEO Emanuel Chirico said the U.S. economy remains volatile from a consumer standpoint which has lead to erratic sales trends in the second quarter.
For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.