Investing.com — PVH Corp posted third-quarter results Wednesday that topped Wall Street estimates, but the apparel retailer lowered the high end of its full-year earnings guidance range amid a hit from a stronger dollar.
PVH Corp (NYSE:PVH) fell 6% in afterhours trading Wednesday.
For the quarter ended Nov. 3, the company reported adjusted Q3 earnings of $3.03 a share on revenue of $2.26 billion, beating estimates of $2.58 on revenue of $2.22B.
Gross margin rose to 58.4% from 56.7% in the prior year period.
Looking ahead the full-year, the company said it now expects adjusted EPS in a range of $11.55 to $11.70 compared to $11.55 to $11.80 previously, owing to a $0.15 per share hit from foreign currency translation, up from approximately $0.05 previously.
The company reaffirmed full-year revenue guidance to decrease between 6% and 7%.