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Riding on better-than-expected first-quarter fiscal 2013 bottom-line results, shares of PVH Corporation (PVH - Analyst Report) attained a new 52-week high of $130.95 yesterday, before closing at $130.86, up 2.0% from the previous day’s session. This Zacks Rank #2 (Buy) stock generated a year-to-date return of approximately 17.1%.

Based on the current price, this designer, marketer and retailer of apparel, furnishings and accessories is 0.8% below the Zacks Consensus average analyst price target of $131.91. The company currently trades at a forward P/E of 18.42x, a 2.6% premium to the peer group average of 17.96x. Additionally, the company’s long-term estimated EPS growth rate is 14.3% higher than the peer group average of 12.7%.

PVH Corporation’s earnings surprise history shows it to have outperformed the Zacks Consensus Estimate in the last 10 quarters with an average beat of 10.1%, including a positive surprise of 39.4% in the previous quarter.

PVH Corporation posted results on Jun 12, in which quarterly earnings of $1.91 per share surpassed the Zacks Consensus Estimate of $1.37 and surged 43.6% from the year-ago quarter. The upside was primarily driven by revenue growth from the acquisition of The Warnaco Group, Inc. and improved margins.

During the quarter, total revenue of the company jumped 33.8% to $1,910.2 million compared with $1,427.4 million in the prior-year quarter. Management hinted that strong performance across Calvin Klein, Tommy Hilfiger and Heritage Brands were the growth drivers. PVH Corporation expects the momentum to continue in the second quarter as well.

However, despite impressive results, the guidance seems somewhat conservative, with the company’s adherence to its outlook.

PVH Corporation continues to expect fiscal 2013 total revenue to be $8.2 billion, and reiterated earnings of $7.00 per share. Currently, the Zacks Consensus Estimate for the fiscal is $7.10 per share. For the second quarter, total revenue is projected to be $1.9 billion, with earnings of approximately $1.35 per share. The current Zacks Consensus Estimate of $1.36 per share for the second quarter is slightly above the company’s forecast.

Alongside, Gap Inc. (GPS - Analyst Report), Macy’s Inc. (M - Analyst Report) and V.F. Corp. (VFC - Analyst Report) achieved new 52-week highs of $44.10, $50.77 and $200.43, respectively on Jul 9, 2013.

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