PVH Corp. - PVH STOCK NEWS

PVH Corp. [NYSE: PVH] has appointed Jesper Andersen, Executive Vice President and CFO of the LEGO Group, to its Board of Directors and Audit and Risk Management Committee. Andersen, who became LEGO's CFO in October 2020, brings over 25 years of global leadership experience, including CFO roles at Upfield and Beiersdorf, and two decades in finance leadership at Colgate-Palmolive. His appointment aims to leverage his expertise in driving sustainable brand growth and financial management to support PVH's strategy of developing Calvin Klein and Tommy Hilfiger into leading lifestyle brands.

PVH Corp [NYSE:PVH] has announced that its Executive Committee of the Board of Directors has declared a quarterly cash dividend of $0.0375 per share. The dividend will be paid on December 18, 2024 to stockholders of record as of November 27, 2024.

PVH Corp. (NYSE:PVH) has appointed Fredrik Olsson as CEO of PVH EMEA, effective Q4 2024. Olsson, a retail veteran, joins from Max Fashion where he served as CEO. He previously spent over 20 years at H&M Group, contributing to its global growth. At PVH, Olsson will report to CEO Stefan Larsson and focus on building the market-leading strength of Tommy Hilfiger and Calvin Klein in the EMEA region.

Olsson's appointment aligns with PVH's long-term brand-building growth strategy, the PVH+ Plan. He brings extensive experience in driving profitable growth through international expansion, digital acceleration, and business transformation. Olsson will relocate to Amsterdam and be based at PVH's EMEA regional headquarters.

PVH Corp. (NYSE: PVH) has announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference on September 5, 2024. The company's CEO, Stefan Larsson, and CFO, Zac Coughlin, will engage in a fireside chat at 10:20 AM Eastern Time.

The event will be broadcast live over the Internet, with a link available on PVH's website under the Investors section. For those unable to attend the live broadcast, a webcast replay will remain accessible on the company's website for 6 months following the event.

PVH Corp. reported Q2 2024 earnings exceeding guidance, with GAAP EPS at $2.80 and non-GAAP EPS at $3.01, surpassing the projected $2.25. The company's revenue declined 6% to $2.074 billion, aligning with expectations.

Key factors included a 3% reduction from selling the Heritage Brands women's intimates business. Gross margin improved by 250 basis points to 60.1%. Inventory levels were down 12% year-over-year.

For full-year 2024, PVH reaffirmed its revenue outlook, projecting a 6%-7% decrease. The GAAP operating margin is expected to drop slightly to 9.8%, while non-GAAP remains flat at 10.1%. PVH raised its EPS guidance, projecting it in a range of $11.20-$11.45 on a GAAP basis and $11.55-$11.80 on a non-GAAP basis, benefiting from a tax settlement.

PVH Corp. (NYSE: PVH) has announced it will release its second quarter 2024 earnings results on Tuesday, August 27, 2024, after market close. The company will host a conference call on Wednesday, August 28, 2024, at 9:00 A.M. Eastern Time to discuss the results. The call will be led by Stefan Larsson, CEO, and Zac Coughlin, CFO. Investors can access the live broadcast via a link on PVH's website under the Investors section. For those unable to attend the live call, a webcast replay will be available on the company's website for 12 months following the event.

PVH Corp. (NYSE:PVH) has announced a quarterly cash dividend of $0.0375 per share. The dividend will be payable on September 25, 2024 to stockholders of record as of September 4, 2024. This declaration was made by the Executive Committee of PVH Corp.'s Board of Directors, demonstrating the company's commitment to returning value to its shareholders.

While the dividend amount is relatively modest, it represents a consistent approach to shareholder remuneration. Investors should note the specific dates for eligibility and payment, as these are important for dividend-focused investment strategies.

PVH Corp. [NYSE: PVH] has appointed Kate Gulliver, Chief Financial Officer and Chief Administrative Officer at Wayfair Inc., to its Board of Directors and Audit & Risk Management Committee. Gulliver brings a consumer-centric, data-driven approach and experience in scaling a fast-growing digital business, which aligns with PVH's goal of driving sustained, profitable growth guided by the PVH+ Plan.

With over a decade at Wayfair, Gulliver has held various leadership roles, including Chief People Officer and Head of Investor Relations. Her appointment is expected to provide valuable insights as PVH continues to build its next chapter and unlock the full potential of its iconic brands.

Tommy Hilfiger, part of PVH Corp. (NYSE: PVH), has announced a multi-year global partnership with the U.S. SailGP Team as the Official Lifestyle Apparel Partner. This collaboration aims to merge fashion with the high-paced sport of sailing, kicking off during the 2025 SailGP season. The agreement will see the TOMMY HILFIGER logo on the team's F50 foiling catamarans and uniforms, as well as collaborative capsule collections. The partnership launches at the Sail Grand Prix in November 2024 and involves various exclusive events and activations.

CEO Mike Buckley of the U.S. SailGP Team and Tommy Hilfiger both expressed excitement about this innovative merging of sports and fashion, focusing on disrupting the sailing scene.