The clothing company, which owns brands including Tommy Hilfiger, Calvin Klein and Van Heusen, said in a statement on Thursday that it expects fourth-quarter revenue of $2.4 billion, above its initial guidance. For the full year, it sees revenue of $9.57 billion, also above its initial expectations.
On an adjusted basis, it now expects per-share earnings of at least $1.75 for the quarter, above its previous guidance range of $1.60, and full-year 2018 adjusted earnings per share of at least $9.50, above the $9.33-$9.35 per share range it had predicted.
That pushed shares up 6.9% to close at $105.77 on Friday. PVH stock ended Thursday's regular session down $3.61, or 3.5%, at $98.94.
"...we are experiencing outperformance across all of our businesses relative to our previous guidance, despite the increasingly volatile macroeconomic and geopolitical environment." PVH CEO Emanuel Chirico said in a statement.
Separately, the company said it expects to incur pretax costs of about $120 million over the next 12 months in connection with the planned restructuring of its Calvin Klein unit, including the relaunch of the so-named 205W39NYC business.