India, June 3 -- PVH Corp. (PVH), the parent company of Calvin Klein and Tommy Hilfiger, on Wednesday reported a swing to profit in the first quarter. Looking forward, the company cuts its revenue outlook for the full year.
Net income for the quarter was $88.0 million, or $1.90 per share, compared with a net loss of $44.8 million, or $0.88 per share, in the prior-year quarter.
The year-ago period included non-cash goodwill and intangible asset impairment charges of $479.5 million. Adjusted earnings were $2.01 per share, down from $2.30 per share a year earlier.
Revenue rose 2% to $2.03 billion from $1.98 billion last year, topping the company's expectation for a slight increase. First-quarter revenue growth was driven by a 6% increase in...