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. announces the retirement of Manny Chirico as Chairman of the Board effective December 31, 2021. Henry Nasella, currently the Presiding Director, will assume the role of independent, non-executive Chairman. Chirico served as Chairman since 2007 and CEO until February 2021. Both Chirico and CEO Stefan Larsson expressed confidence in PVH's future under Nasella's leadership. The Board will be reduced to 11 members following Chirico's departure. PVH continues to focus on recovery and long-term growth through its iconic brands, including Calvin Klein and TOMMY HILFIGER.
PVH Corp. reported a strong second quarter in 2021, with revenue soaring 46% to $2.313 billion, exceeding guidance levels. International businesses outperformed pre-pandemic levels, while digital channels grew 35%. Earnings per share (EPS) on a GAAP basis were $2.51, significantly higher than the expected range of $0.79 to $0.82. The company raised its full-year EPS outlook to $8.80 from $6.60. Despite uncertainties due to COVID-19, gross margin improved to 57.7%, reflecting less promotional selling and strong international performance.
PVH Corp (NYSE: PVH) announced it will release its second quarter 2021 earnings on August 31, 2021, post-market closure. A conference call featuring CEO Stefan Larsson and CFO Michael Shaffer is scheduled for September 1, 2021, at 9:00 A.M. Eastern Time to discuss the results. The call will be available live online, with replays accessible for 12 months. The company highlighted its extensive global presence, connecting with consumers in over 40 countries through iconic brands like Calvin Klein and TOMMY HILFIGER.
PVH Corp. (NYSE: PVH) has completed the sale of its Heritage Brands business assets to Authentic Brands Group for $223 million. This includes trademarks such as IZOD, Van Heusen, ARROW, and Geoffrey Beene. CEO Stefan Larsson stated that this marks a new growth chapter for PVH, allowing a focus on the iconic brands Calvin Klein and TOMMY HILFIGER. While PVH retains its intimates and underwear sectors, the transaction is expected to better position the Heritage Brands under ABG's guidance.
Calvin Klein, a subsidiary of PVH Corp, launched a global advertising campaign for the new men's fragrance Calvin Klein Defy, featuring actor Richard Madden. The campaign represents a journey of defiance, showcased through Madden's authentic moments. The fragrance, crafted by renowned perfumers, combines citrus, vetiver oil from Haiti, and amber notes, encapsulating modern masculinity. It's available in select countries and will roll out globally. To celebrate, a Twitch tournament will offer consumers a chance to engage with top streamers and win prizes.
PVH Corp. announced an update to its full year outlook, following a definitive agreement to sell certain assets of its Heritage Brands business to Authentic Brands Group for approximately $220 million. The projected revenue growth for 2021 is now estimated at 22% to 24%, adjusting from an earlier forecast of 24% to 26%. Earnings per share (EPS) guidance on a GAAP basis is raised to about $6.60, reflecting a pre-tax net gain from the sale. The company plans to use net proceeds for share repurchases and will reinstate its common stock dividend.
PVH Corp. (NYSE:PVH) has agreed to sell its Heritage Brands business assets to Authentic Brands Group for approximately $220 million. This transaction, expected to close in Q3 2021, includes trademarks for IZOD, Van Heusen, ARROW, and Geoffrey Beene. CEO Stefan Larsson emphasized the strategic shift towards higher-return businesses, focusing future growth on Calvin Klein and TOMMY HILFIGER. The company will retain its intimates and underwear divisions, while brands like Centric Brands will license parts of the sold operations.
PVH Corp. [NYSE:PVH] released its 2020 Corporate Responsibility report, highlighting advances in inclusion, diversity, and sustainability. Milestones include donating over $2 million for COVID-19 relief and delivering over 2 million PPE units. The report showcases a 15% rise in renewable energy usage, installing the world's most powerful solar roof in Venlo, and launching a circular business model that diverted 36,429kg of textile waste. PVH aims to protect garment workers and improve living wages, impacting 86% of its supply chain.
PVH Corp. has announced leadership changes alongside strong first-quarter earnings for 2021, exceeding guidance and raising the full-year outlook. Chief Operating and Financial Officer Mike Shaffer will depart in September, with a search for a successor underway. Cheryl Abel-Hodges, CEO of Calvin Klein, will transition to an advisory role effective July 1. CEO Stefan Larsson acknowledged their contributions and leadership in navigating recent challenges. PVH remains committed to its recovery and growth strategies, aiming to maintain its position in the global fashion market.
PVH Corp. reported a remarkable 55% revenue increase, totaling $2.079 billion for Q1 2021, driven by substantial growth across its Calvin Klein and Tommy Hilfiger brands. Digital commerce surged by 66%, while wholesale revenue rose by 53%. The gross margin improved to 59.1% from 49.5% the previous year, reflecting effective inventory management. Despite these gains, the company anticipates ongoing challenges from the pandemic, especially in North America, projecting a revenue growth of 24% to 26% for the full year 2021.
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