PVH Corp. (PVH) is currently trading at a notably low price-to-earnings (P/E) multiple, which is below the Zacks Textile - Apparel industry and broader Consumer Discretionary averages. PVH's forward 12-month P/E ratio is 8.09, lower than the industry average of 13.59x and the sector average of 18.62x. A lower P/E ratio often signals that a stock may be priced attractively relative to its earnings potential, which can be appealing to value-focused investors. The stock is undervalued compared with its industr ...

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PVH Corporation (PVH) appears well-poised to tap the positive trends in the fashion arena, thanks to its sturdy digital endeavors and other robust strategies. The company's PVH+ Plan also looks quite encouraging. Strength in brands, particularly Calvin Klein and TOMMY HILFIGER, is acting as a tailwind. Let's delve deeper. PVH's Robust Strategies Bode Well PVH Corp enters into the next level of PVH+ Plan execution. In Europe, the company is on track with the efforts regarding the targeted quality of sales. I ...

My previous investment thought on PVH Corp. (NYSE: PVH ) (published in April) was a sell rating because of the poor consumer spending environment and the poor headline growth outlook from the self-inflicted 500bps headwind. Indeed, my recommendation was spot on I focus on long-term investments while incorporating short-term shorts to uncover alpha opportunities. My investment approach revolves around bottom-up analysis, delving into the fundamental strengths and weaknesses of individual companies. My invest ...

Shares of PVH Corporation (PVH) have surged 27.4% in the past year, outperforming the Zacks Textile - Apparel industry's 1.1% decline and the broader Consumer Discretionary sector's 16.4% rise. This upside can be attributed to the company's smooth execution of its PVH+ Plan, which aims to deliver sustainable growth. Strength in brands, particularly Calvin Klein and TOMMY HILFIGER, is an added positive. Currently priced at $97.13, PVH stock is trading at 31.2% to its 52-week high of $141.15, reached on April ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 4, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-07572 PVH CORP. (Exact name of registrant as specified in its charter) | --- | |-------| | | | | | | | | | | | | | | | | | | Del ...

I l I r and and the states of the states of n 1 I T Robert Way PVH Corp. (NYSE:PVH) 2Q24 results were in line with expectations and did not generate any meaningful reaction in the market. The company's revenues post negative figures, but most of the decrease stems from the sale of legacy brands affecting wholesale. The company did a little better sequentially in NA and continues to be challenged in Europe with some additional sequential improvement. The company reconfirmed guidance for FY24, with some impro ...

PVH Corp. (PVH) reported second-quarter fiscal 2024 results, wherein both earnings and revenues topped the Zacks Consensus Estimate. The bottom line significantly improved while the top line fell year over year. Results gained from the strong execution of the PVH+ Plan, which led to robust gross margin expansion and double-digit adjusted earnings per share (EPS) growth. Let's Delve Deeper Into PVH's Q2 Performance PVH reported adjusted earnings of $3.01 per share, up 52.0% from the year-ago quarter's $1.98. ...

Financial Data and Key Metrics Changes - For Q2 2024, revenue decreased by 6% year-over-year, including a 1% negative impact from currency exchange and a 3% decline due to the sale of the Heritage intimates business [13][14] - Operating margin improved to 9.1%, up 80 basis points from the previous year, driven by a 250 basis point increase in gross margin [13][17] - Earnings per share (EPS) was $3.01, benefiting from a favorable tax settlement, with a projected increase to $11.55 to $11.80 for the full year [13][19] Business Line Data and Key Metrics Changes - Calvin Klein revenues were flat year-over-year on a constant currency basis, while Tommy Hilfiger revenues declined by 3% on a constant currency basis [16] - Direct-to-consumer (D2C) revenue was down 3% on a constant currency basis, with a decline in retail stores and e-commerce [15][16] - Wholesale revenue decreased by 8%, primarily due to the sale of the Heritage intimates business and a strategic reduction in Europe [15][16] Market Data and Key Metrics Changes - North America showed a 1% revenue increase for Calvin Klein and Tommy Hilfiger combined, with an EBIT margin of 11.7%, marking a 400 basis point improvement [9][14] - In Europe, revenue was down 2% in euros, with a 3% impact from quality of sales initiatives, but gross margins improved significantly [10][14] - Asia Pacific revenue declined by 4% on a constant currency basis, with a notable decrease in China and Australia, while Japan and Korea continued to grow [11][14] Company Strategy and Development Direction - The company aims to build Calvin Klein and Tommy Hilfiger into leading lifestyle brands through disciplined execution of the PVH+ Plan, focusing on brand desirability and sustainable growth [4][12] - The strategy includes improving product offerings, enhancing consumer engagement, and optimizing supply chain operations to drive efficiencies [5][12] - The company is also focused on transitioning from low-quality clearance sales to full-price selling, emphasizing newness and innovation in product assortments [4][24] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenging global macroeconomic conditions but expressed confidence in the company's ability to navigate these challenges through disciplined execution [12][19] - The outlook for Q3 projects a revenue decline of 6% to 7%, with expectations for DTC revenue to remain nearly flat [18][19] - For the full year, the company reaffirms its revenue guidance, projecting a decrease of 6% to 7%, while raising EPS guidance due to favorable tax settlements [19][20] Other Important Information - The company is in the process of appointing a permanent CEO for PVH Europe, which is expected to enhance leadership and execution in the region [10] - The transition of the G-III licensing agreement is ongoing, with plans to recapture business over a multi-year period [35] Q&A Session Summary Question: Current health of brands and demand trends - Management reported high consumer engagement for both Calvin Klein and Tommy Hilfiger, with strong responses to recent fall campaigns featuring notable talent [22][24] Question: Cost efficiencies and operating margin targets - Management highlighted ongoing cost management efforts and simplification initiatives aimed at achieving mid-teens operating margin targets over the next few years [25] Question: North America business performance - Management noted that while July saw a dip due to clearance trends, August showed improvement with new season products resonating well with consumers [27][28] Question: Quality of sales initiatives in Europe - Management expressed confidence in the execution of quality of sales initiatives, which are expected to drive better margins and sales performance [30] Question: Long-term wholesale and DTC strategy - Management emphasized the importance of an omnichannel approach, focusing on satisfying consumer preferences across both wholesale and DTC channels [40][41]

Core Viewpoint - PVH Corp reported disappointing second-quarter earnings, leading to a significant decline in its stock price, despite some analysts maintaining positive ratings and price targets. Financial Performance - PVH reported adjusted earnings of $3.01 per share, surpassing the consensus estimate of $2.29 per share, primarily due to a $0.55 per share benefit from an unplanned favorable tax settlement [2] - Revenues decreased by 6% year-on-year, but this was better than the market expectations of a 6.3% contraction [2] Guidance and Outlook - The company raised its full-year earnings guidance, reflecting the tax benefit, but still anticipates a revenue decline of 6% to 7% [3] - Management indicated that the softer trends observed at the end of the second quarter, particularly in the U.S. and China, are expected to persist in the latter half of the year [5] - The guidance for adjusted earnings suggests an operating margin contraction of approximately 150 basis points year-on-year at the midpoint [5] Analyst Ratings - Goldman Sachs analyst Brooke Roach maintained a Buy rating with a price target of $144 [1] - JPMorgan analyst Matthew Boss reiterated an Overweight rating with a price target of $154, noting that the full-year guidance reflects the flow-through of the second quarter's tax benefit [1][3] Stock Performance - PVH shares declined by 6.24% to $97.94 at the time of publication [6]