PVH Corp. Swings To Profit

Apparel company PVH Corp. reported late Wednesday it earned $51.5 million, or 62 cents a share, in its fiscal fourth quarter, reversing a year-ago loss of $37.5 million, or 46 cents a share. Total fourth-quarter sales for the company, whose brands include Tommy Hilfiger and Calvin Klein, rose to $2.07 billion from $2.05 billion. Adjusted to exclude one-time items, the company earned $1.76 a share in the three months ended Feb. 1, 2015. Analysts polled by FactSet, who typically cite adjusted earnings, expected the company to earn $1.73 a share on sales of $2.1 billion. The company, citing the challenges of a strong dollar and a volatile macroeconomic environment, said it expects adjusted earnings of $6.75 a share in 2015, below analysts' expectations of $7.36 for the full year.