Phillips-Van Heusen (NYSE:PVH) is expected to report Q2 earnings after market close Wednesday, Aug. 20, with a conference call scheduled for Thursday at 9:00 am ET.
Analysts are looking for a profit of 65c on revenue of $580.68M. The consensus range is 63c to 66c for EPS, and revenue of $573.1M to $585M, according to First Call. In May, the retailer forecast Q2 EPS in line with analysts' estimates and guided Q2 revenue $575M to $585M. At June's Piper Jaffray 28th Annual Consumer Conference, executives said they were comfortable with FY08 EPS guidance of $3.32 to $3.41 and revenue guidance $2.6B to $2.59B vs. First Call consensus of $3.36 and $2.59B, respectively.
In addition to licensing the rights to a company in Mexico to operate Van Heusen retail stores and make and market a line of accessories and sportswear there, CEO Emanuel Chirico told Women's Wear Daily that he is pursuing acquisitions. Chirico also said the company will close its Geoffrey Beene stores by the end of the year and will convert to Calvin Klein stores. Buckhingham believes Phillips-Van Heusen will reaffirm FY008 guidance based on Warnaco's (NYSE:WRC) strong Q2 results for Calvin Klein and estimates that Warnaco's "above plan" sales could give the company an incremental 4c in earnings that either could drive EPS upside, or worst case, offset weakness in its heritage businesses.