PVH Corp. (NYSE: PVH) posted better than expected fourth quarter earnings results and offered a bullish outlook for the current year, sending its shares soaring higher in aftermarket trading.

Written by StockNews.com

The New York City-based apparel marker reported adjusted Q4 earnings per share (EPS) of $1.23, which was $0.05 better than the Wall Street consensus estimate of $1.18. Revenues fell 0.2% from last year to $2.11 billion, but still topped analysts’ view for $2.09 billion.

In terms of its major brand segments, PVH said that Calvin Klein revenues fell -1% year-over-year, while Tommy Hilfiger sales rose 3%.

Looking ahead, the company forecast Q1 EPS of $1.58-1.60, higher than the $1.56 that analysts are looking for. Revenues are estimated to rise to approximately $1.96 billion, also ahead of analysts’ $1.92 billion outlook.

For the full year 2018, PVH sees EPS of $7.30 to $7.40, which would beat the consensus estimate of $7.26. Its implied revenue forecast of about $8.37 billion is also ahead of Wall Street’s view for $8.35 billion.

The company commented via press release:

“We continue to take a prudent approach to planning our 2017 business in light of the macroeconomic and geopolitical volatility around the world, the uncertain global retail landscape, as well as the strengthening U.S. dollar.

We believe that our best-in-class teams will continue to manage through the volatility by leveraging our powerful platforms and operations, while not losing sight of our long-term vision.

Our recent announcement of the agreement to acquire True&Co. illustrates our commitment to driving innovation across our businesses, as we look to leverage data and consumer insights to drive our business.

We expect that our proven business model and talented associates will continue to drive the execution of our strategic initiatives in an ever-changing environment while delivering stockholder value.”

Investors greeted PVH’s results and outlook very optimistically, sending its shares surging $6.85 (+7.54%) to $97.70 in after-hours trading Wednesday. Year-to-date, PVH had gained 0.72% prior to today’s report, versus a 4.81% rise in the benchmark S&P 500 index during the same period.

PVH currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #16 of 69 stocks in the Fashion & Luxury category.