RTTNews | Sep 1, 2021 12:45PM EDT

12:44 Wednesday, September 1, 2021 (RTTNews.com) - Shares of clothing company PVH Corp. (PVH) are up 15 percent on Wednesday's trading as the company swung to profit in the second quarter and raised its earnings outlook for fiscal 2021.

The company posted net income of $181.9 million or $2.51 per share in the second quarter, compared to net loss of $51.4 million or $0.72 per share in the same period last year.

Excluding items, income was $197.5 million or $2.72 per share for the period, while analysts projected $1.2 per share.

Quarterly revenues rose to $2.31 billion from $1.58 billion in the year-ago period.

Looking ahead, the company raised its earnings outlook for fiscal 2021. PVH Corp now expects earnings per share of $8.80 from the earlier $6.60. On an adjusted basis, earnings per share of $8.50 is expected, compared to the previous $6.50.

Currently at $120.38, the stock has traded between $57.35 and $121.50 during the past 52 weeks.

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