NEW YORK (AP) -- PVH Corp., the parent company of Tommy Hilfiger, on Wednesday reported loss for its fiscal first quarter, but its results were stronger than expected and its stock climbed in aftermarket trading.
PVH bought competitor Warnaco Group for $2.9 billion in February, strengthening its control of the Calvin Klein clothing brand. The deal also gave PVH Warnaco's Speedo, Warner's and Olga brands. PVH's revenue from Calvin Klein more than doubled in the first quarter, and total revenue advanced 34 percent. Its revenue and adjusted income surpassed Wall Street expectations.
Shares of PVH climbed $8.71, or 7.8 percent, to $119.99 in aftermarket trading following the release of the earnings report.
Warnaco sold Calvin Klein jeans and underwear, the brand's two largest categories, under a license.
PVH said it lost $20.1 million, or 25 cents per share, over the three months ended May 5. The former Phillips-Van Heusen posted a profit of $95.5 million, or $1.30 per share, a year ago. Excluding one-time charges PVH said it earned $1.91 per share in the latest quarter. Its revenue grew to $1.91 billion from $1.43 billion.
Analysts were forecasting adjusted net income of $1.35 per share and $1.88 billion in revenue, according to FactSet.
PVH's net sales rose 39 percent to $1.82 billion. Revenue from royalties decreased after the Warnaco purchase closed and advertising revenue also declined.
PVH said it is not yet ready to change its guidance for the full year and continued to forecast adjusted net income of $7 per share on about $8.2 billion in revenue. It expects adjusted net income of $1.35 per share and $1.9 billion in revenue in the second quarter
Analysts are projecting income of $7.03 per share and $8.05 billion in revenue for the fiscal year, including $1.35 per share and $1.81 billion in the fiscal second quarter.
PVH shares set an all-time high of $125.50 on March 6.