NEW YORK (TheStreet) -- PVH (PVH) shares are falling, down -5.4% to $123.70, in after-hours trading following the release of the company's first quarter earning results.
The Tommy Hilfiger and Calvin Klein apparel company reported first quarter earnings per share of $1.47, a 30% drop from last year's mark of $1.91 per diluted share, and 1 cent short of analysts consensus estimates.
Revenue for the quarter was up 4% from the year ago period to $1.964 billion, falling short of Wall Street's $2 billion forecast.
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TheStreet Ratings team rates PVH CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate PVH CORP (PVH) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."