Shares of Williams-Sonoma rose after the brand behind West Elm and Pottery Barn earned more than expected in the fiscal first quarter. The home furnishings company reported earnings of 53 cents per share, adjusted, on sales of $1.1 billion, compared to expectations of 50 cents per share on revenue of $1.08 billion expected by a Thomson Reuters consensus estimates. Sales of new homes have increased more than expected this spring.
PVH, the company behind Tommy Hilfiger and Calvin Klein brands, saw shares pop after it capped analyst estimates. PVH posted earnings of $1.50, excluding items, on sales of $1.92 billion. Analysts expected $1.43 per share on revenues of $1.9 billion, according to a Thomson Reuters consensus estimate.
Despite a difficult U.S. retail market, CEO Emanuel Chirico said PVH was able to grow thanks to outperformance in key markets Europe and China.
But denim brand Guess sank after its fiscal first-quarter earnings fell short of expectations. The Los Angeles-based company posted an adjusted loss of 23 cents per share on revenue of $448.8 million. Wall Street expected a loss of 19 cents per share on sales of $463.2 million, according to the Associated Press.
"I had highlighted on our last earnings call that the first six months of the year would be a transition period," CEO Victor Herrero said, in a statement, adding that the month of April was especially tough for Guess. "The start to the year has been a bit more challenging than we anticipated especially in the Americas and to a lesser extent in Greater China."