The maker of such clothing brands as Speedo, Tommy Hilfiger, and Calvin Klein reported earnings per share of $1.52 against expectations of $1.46 per share. Additionally, the company generated $2.11 billion in revenue against expectations of $2.07 billion.
The company also announced that it will acquire the rest of the Tommy Hilfiger Chinese branch.
"More specifically, we announced that we will acquire the remaining 55% stake in our Tommy Hilfiger China joint venture, providing us with the opportunity to further strengthen our market position in China," said CEO Emanuel Chirico in a release accompanying the earnings.
After the earnings the stock jumped by around 5% to $92.00 from its closing price of $87.63.
More to come...