American apparel retailer PVH said on Wednesday its Q2 revenue for 2018 increased by 13 percent and net income rose by 38 percent from the same period last year. The company said that full year 2018 EPS outlook has been raised despite reduced foreign currency benefit. The company raised EPS on GAAP basis in the range of 8.96 dollars to 9.01 dollars from 8.81 dollars to 8.91 dollars previously and 9.20 dollars to 9.25 dollars on non-GAAP basis from 9.05 dollars to 9.15 dollars previously.
The company’s sales in Q2 2018 were 2.2 billion US dollars, up from 1.10 billion US dollars a year earlier. Net income rose to 164.7 million US dollars. The profit margin of the company rose to 7.4 percent compared to 6 percent a year ago.
Revenues for the for six months increased 15 percent or 11percent on constant currency basis to 4.6 billion dollars. Earnings per share on a GAAP basis were 4.42 dollars for the first six months of 2018 compared to 2.41 dollars in the prior year period, while earnings per share on a non-GAAP basis were 4.55 dollars compared to 3.34 dollars in the prior year period.
PVH Corp was founded in 1881 by the Phillips family and is based in New York, United States. With its history spanning over 135 years, PVH today operates under three business segments – Calvin Klein, Tommy Hilfiger and Heritage Brands. Growing brands globally across the wholesale, retail, digital commerce and licensing channels, PVH markets a variety of products under its own as well as licensed brands.
Offering men’s and women’s clothing and accessories, the New York-listed company has about 36,000 employees worldwide.