Welcome to our dedicated page for PVH news (Ticker: PVH), a resource for investors and traders seeking the latest updates and insights on PVH stock.
PVH Corp. (NYSE: PVH) is a leading global apparel company with a rich heritage spanning over 130 years. Originally founded in 1881 in Pottsville, PA, PVH started by mending shirts for miners and has since grown to become the world's second-largest apparel company. PVH owns and markets some of the most iconic brands in the fashion industry, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, Arrow, Speedo, Warner’s, and Olga. In addition to its own brands, PVH also markets a variety of goods under licensed brands.
In the last decade, PVH has transformed from a North American menswear company into a global lifestyle brand organization with a significant presence in every major market in the apparel industry. The company operates e-commerce sites, about 1,500 stores, and has over 20,000 points of sale. PVH's key fashion categories include men's dress shirts, ties, sportswear, underwear, and jeans. Its two major brands, Calvin Klein and Tommy Hilfiger, now generate nearly all its revenue, especially after the recent disposition of its smaller brands.
PVH has over 30,000 associates operating in more than 40 countries, speaking over 20 languages. The company's total revenue exceeds $8 billion, showcasing its financial strength and market reach. To further its growth, PVH continually engages in strategic partnerships and collaborations. Recent news highlights a new license agreement with Revman for the design, manufacturing, and distribution of Calvin Klein home accessories in the U.S., Canada, and Mexico. This collaboration aims to bring Calvin Klein's modern, minimalist aesthetic into home products, including fashion bedding, bath products, and window coverings.
PVH's commitment to innovation and sustainability is reflected in its product lines and business practices. The company emphasizes responsible design and high-quality construction, positioning its brands as leaders in the global fashion industry. PVH continues to invest in modern marketing campaigns and emerging digital platforms, ensuring its brands remain relevant and appealing to a broad consumer base.
PVH Corp. reported a 2% increase in Q4 revenue, reaching $2.489 billion, exceeding guidance, with 8% growth on a constant currency basis. Full-year revenue slightly decreased by 1% to $9.024 billion but grew 5% when adjusted for currency. Fourth-quarter GAAP EPS hit $2.18, significantly above the $0.45 guidance, while full-year GAAP EPS was $3.03, surpassing the $1.37 guidance. For 2023, PVH forecasts a revenue increase of 3-4% and an EPS of around $10.00. The company continues to focus on the PVH+ Plan, enhancing brand desirability and aiming for double-digit EPS growth.
PVH Corp (NYSE: PVH) announced it will release its fourth quarter and year-end 2022 earnings on March 27, 2023, after market close. A conference call is scheduled for March 28, 2023, at 9:00 A.M. Eastern Time, hosted by CEO Stefan Larsson and CFO Zac Coughlin, to discuss the results. The call will be accessible via the company's website, where a replay will be available for 12 months. PVH is recognized as a leading fashion company with brands like Calvin Klein and TOMMY HILFIGER, operating in over 40 countries.
PVH Corp. has appointed
PVH Corp. has declared a quarterly cash dividend of $0.0375 per share, payable on March 29, 2023, to stockholders of record on March 8, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders while focusing on the growth of its key brands, Calvin Klein and Tommy Hilfiger. The company's strategy emphasizes brand strength and relevance, targeting consumer preferences to drive future growth.
PVH Corp. (NYSE: PVH) announced the appointment of Donald Kohler as President of Calvin Klein Americas, effective March 13, 2023. With over 30 years of retail leadership experience, Kohler has previously led brands including Burberry and Diesel in the Americas. CEO Stefan Larsson expressed confidence in Kohler's ability to enhance consumer connections for Calvin Klein. Kohler aims to drive growth for the brand in this pivotal moment for the company. The press release emphasized ongoing efforts to execute the PVH+ Plan and build a leadership team for enhanced regional and brand focus.
PVH Corp. has announced the five finalists for the 2022 Tommy Hilfiger Fashion Frontier Challenge, selected from 259 applicants worldwide. The initiative promotes inclusivity in fashion, focusing on marginalized entrepreneurs, including BIPOC and those with disabilities. Each finalist will present their business concept to a jury, including Tommy Hilfiger and activist Halima Aden, at the finale on February 9, 2023. The challenge offers a €200,000 award and mentorship opportunities to winners, aligning with PVH's sustainability mission to 'Waste Nothing and Welcome All.'
PVH Corp. (NYSE:PVH) has appointed Eva Serrano as Global Brand President of Calvin Klein, effective March 2023. With over 20 years of leadership experience at Inditex, Serrano aims to enhance Calvin Klein's global presence. Reporting to Stefan Larsson, CEO of PVH, she brings expertise in product, marketing, and supply chain management. Serrano expressed her passion for the brand and the desire to unlock its potential worldwide. This appointment aligns with PVH’s ongoing PVH+ Plan for growth.
PVH Corp. has successfully refinanced its senior credit facilities through new senior credit facilities and cash reserves. The new facilities include $1.2 billion in upsized revolving credit and approximately €440.6 million in Term Loan A, maturing in December 2027, marking a three-and-a-half-year extension. This refinancing maintains PVH's capital structure with no expected changes to its interest expenses. The company's iconic brands, including Calvin Klein and Tommy Hilfiger, continue to connect with consumers globally.
PVH Corp. has extended its licensing agreements with G-III Apparel Group for Calvin Klein and TOMMY HILFIGER in the U.S. and Canada. These agreements will have staggered expirations from 2025 to 2027, allowing PVH to gradually transition core product categories back in-house. This move is part of PVH’s strategic growth plan to enhance its brand operations and supply chain efficiency, as these licensed categories accounted for one-third of global licensing revenue and under 10% of consolidated EBIT in 2021.
PVH Corp. reported a 2% revenue decrease to $2.281 billion in Q3 2022, although it rose 7% in constant currency. GAAP EPS was $(2.88), below guidance, impacted by a $417 million goodwill impairment charge. Non-GAAP EPS was $2.60, exceeding expectations. Full year revenue is projected to decrease about 3%, with an EPS outlook of approximately $1.37 GAAP. Notably, a 32% inventory increase and a gross margin decline to 55.9% were reported, reflecting higher costs. Despite challenges, the CEO noted strong consumer engagement and the company's focus on sustainable growth.
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