By
Reuters
Published
Jan 11, 2010
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Phillips-Van Heusen ups fourth quarter outlook

By
Reuters
Published
Jan 11, 2010

an 11 (Reuters) - Phillips-Van Heusen (PVH.N) raised its fourth-quarter outlook, citing strong performance through the holiday season and continued global growth of its Calvin Klein brand.


Photo: www.pvh.com

For the fourth quarter, the company now expects earnings of 52 cents to 54 cents a share, up from its prior view of 38 cents to 42 cents a share.

The company expects revenue of $603 million to $608 million in the fourth quarter.

Business in the company's outlet retail divisions significantly exceeded prior expectations, with fourth-quarter same-store sales expected to be up 8 percent.

Royalty revenue from the Calvin Klein brand is projected to increase at least 10 percent for the fourth quarter, the company said.

Analysts on average expect the company to earn 44 cents a share on revenue of $595.1 million in the fourth quarter, according to Thomson Reuters I/B/E/S.

Shares of the wholesaler and retailer rose as much as 3 percent to $44.96 in trading after the bell. They closed at $43.50 Monday 11 January on the New York Stock Exchange. (Reporting by Abhishek Takle in Bangalore; Editing by Aradhana Aravindan)

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