NEW YORK (TheStreet) -- Shares of PVH Corp. (PVH) were trading higher in Wednesday's extended session after reporting better-than-expected earnings for the 2016 second quarter and hiking its full-year guidance.
After Wednesday's market close, the New York City-based owner and Calvin Klein and Tommy Hilfiger posted adjusted earnings of $1.47 per share, topping analysts' estimates of $1.28 per share.
Revenue rose 4% year-over-year to $1.93 billion but was below analysts' projections of $1.94 billion.
North American same-store sales fell 4% at Calvin Klein and were down 7% at Tommy Hilfiger given weakness in traffic and consumer spending trends.
For the full year, PVH Corp. increased its adjusted earnings guidance to between $6.55 and $6.65 per share, up from between $6.45 and $6.55 per share. Analysts surveyed by Thomson Reuters are looking for adjusted earnings of $6.54 per share for the year.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.
PVH's strengths such as its compelling growth in net income, revenue growth, attractive valuation levels, expanding profit margins and good cash flow from operations outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: PVH
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.