Calvin Klein Parent PVH Shares Rally On Earnings Beat, Outlook

PVH Corp. shares rallied in the extended session Wednesday after the clothing-brands company topped Wall Street estimates for the quarter and raised its outlook for the year. PVH shares surged 6.8% to $95.96 after hours. The Calvin Klein and Tommy Hilfiger parent company reported adjusted first-quarter earnings of $1.50 a share on revenue of $1.92 billion. Analysts had estimated $1.43 a share on revenue of $1.9 billion. PVH raised its adjusted earnings outlook for the year to a range of $6.45 to $6.55 a share, up from a previous range of $6.30 to $6.50 a share. Analysts had forecast earnings of $6.46 a share.