On a non-GAAP basis, earnings before interest and taxes for the Tommy Hilfiger business increased 16% to $135.1 million from $116.2 million in the prior year’s third quarter, due to the net revenue increase discussed above and a significant improvement in gross margin driven by an increase in average unit retail selling prices and a decrease in product costs. Partially offsetting this increase was the negative impact of approximately $10 million related to foreign currency translation.On a GAAP basis, earnings before interest and taxes for the Tommy Hilfiger business increased 42% to $128.8 million, as compared to $90.6 million in the prior year’s third quarter. This increase was due principally to the net impact of the overall revenue and gross margin increases noted above, combined with the absence of expenses incurred in connection with the Company’s buyout of the perpetual license for Tommy Hilfiger in India and a decrease in integration and restructuring costs.
PVH Corp. Reports 2012 Third Quarter Results
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