PVH Corp. Higher After Beating Earnings Estimates

PVH Corp. , the company behind retailers Calvin Klein, Tommy Hilfiger, and others, said Monday it earned $1.37 a share in the first quarter, compared with 42 cents a share a year ago. Adjusted for one-time items, the company earned $1.50 a share, at the high end of its guidance. That outperformance was mostly driven by Calvin Klein, the company said. Sales reached $1.88 billion in the quarter, down from $1.96 billion a year ago. Analysts polled by FactSet had expected the company to report $1.38 a share in the quarter on sales of $1.86 billion. PVH raised its full-year 2015 EPS guidance to $6.95 a share, from $6.85 a share. The company's board of directors also approved a $500 million stock buyback program. Shares of PVH rose 3% after hours, after ending the regular session up less than 0.1%.