PVH Corp. Intends To Enter Into $500 Million Accelerated Share Repurchase Agreements
PVH Corp [NYSE: PVH] has announced plans to enter into $500 million accelerated share repurchase (ASR) agreements to buy back approximately 14% of its outstanding shares. The company will initially receive about 5.4 million shares, representing 70% of estimated total repurchases.
The ASR will be executed under PVH's existing $5.0 billion stock repurchase authorization, with $1.8 billion remaining available as of February 2, 2025. The transaction will be funded through $350 million cash on hand and up to $150 million in short-term debt, which PVH expects to repay by fiscal year-end 2025.
The final settlement, based on the volume-weighted average stock price during the ASR term, is anticipated during the third quarter of fiscal 2025. CFO Zac Coughlin cited the company's robust cash flow generation and current stock valuation as presenting a unique opportunity for significant shareholder capital return.
PVH Corp [NYSE: PVH] ha annunciato piani per entrare in accordi di riacquisto accelerato di azioni (ASR) da 500 milioni di dollari per riacquistare circa il 14% delle sue azioni in circolazione. L'azienda riceverà inizialmente circa 5,4 milioni di azioni, che rappresentano il 70% delle riacquisizioni totali stimate.
L'ASR sarà eseguito nell'ambito dell'autorizzazione al riacquisto di azioni da 5,0 miliardi di dollari esistente di PVH, con 1,8 miliardi di dollari ancora disponibili a partire dal 2 febbraio 2025. La transazione sarà finanziata tramite 350 milioni di dollari in contante e fino a 150 milioni di dollari in debito a breve termine, che PVH prevede di rimborsare entro la fine dell'anno fiscale 2025.
Il regolamento finale, basato sul prezzo medio ponderato per volume delle azioni durante il periodo dell'ASR, è previsto nel terzo trimestre dell'anno fiscale 2025. Il CFO Zac Coughlin ha citato la robusta generazione di flusso di cassa dell'azienda e l'attuale valutazione delle azioni come un'opportunità unica per un significativo ritorno di capitale agli azionisti.
PVH Corp [NYSE: PVH] ha anunciado planes para entrar en acuerdos de recompra acelerada de acciones (ASR) por 500 millones de dólares para recomprar aproximadamente el 14% de sus acciones en circulación. La compañía recibirá inicialmente alrededor de 5.4 millones de acciones, que representan el 70% de las recompras totales estimadas.
El ASR se ejecutará bajo la autorización de recompra de acciones de 5.0 mil millones de dólares existente de PVH, con 1.8 mil millones de dólares aún disponibles a partir del 2 de febrero de 2025. La transacción se financiará a través de 350 millones de dólares en efectivo y hasta 150 millones de dólares en deuda a corto plazo, que PVH espera reembolsar para el final del año fiscal 2025.
El acuerdo final, basado en el precio promedio ponderado por volumen de las acciones durante el período del ASR, se anticipa para el tercer trimestre del año fiscal 2025. El CFO Zac Coughlin citó la sólida generación de flujo de efectivo de la compañía y la actual valoración de las acciones como una oportunidad única para un retorno significativo de capital a los accionistas.
PVH Corp [NYSE: PVH]는 5억 달러 규모의 가속 주식 매입(ASR) 계약을 체결하여 약 14%의 유통 주식을 재매입할 계획을 발표했습니다. 회사는 처음에 약 540만 주를 받을 예정이며, 이는 추정 총 재매입의 70%에 해당합니다.
ASR은 PVH의 기존 50억 달러 주식 재매입 승인 하에 실행되며, 2025년 2월 2일 기준으로 18억 달러가 남아 있습니다. 이 거래는 3억 5천만 달러의 현금과 최대 1억 5천만 달러의 단기 부채를 통해 자금 조달될 예정이며, PVH는 2025 회계연도 말까지 이를 상환할 것으로 예상하고 있습니다.
ASR 기간 동안의 거래량 가중 평균 주가를 기반으로 한 최종 정산은 2025 회계연도 3분기에 예상됩니다. CFO 잭 코클린은 회사의 강력한 현금 흐름 생성과 현재 주식 가치를 언급하며 주주에게 상당한 자본 수익을 제공할 수 있는 독특한 기회라고 밝혔습니다.
PVH Corp [NYSE: PVH] a annoncé des plans pour entrer dans des accords de rachat d'actions accélérés (ASR) de 500 millions de dollars afin de racheter environ 14% de ses actions en circulation. L'entreprise recevra initialement environ 5,4 millions d'actions, représentant 70% des rachats totaux estimés.
L'ASR sera exécuté dans le cadre de l'autorisation de rachat d'actions de 5,0 milliards de dollars existante de PVH, avec 1,8 milliard de dollars encore disponibles à partir du 2 février 2025. La transaction sera financée par 350 millions de dollars en liquidités et jusqu'à 150 millions de dollars de dettes à court terme, que PVH prévoit de rembourser d'ici la fin de l'exercice 2025.
Le règlement final, basé sur le prix moyen pondéré par le volume des actions pendant la durée de l'ASR, est prévu pour le troisième trimestre de l'exercice 2025. Le CFO Zac Coughlin a cité la solide génération de flux de trésorerie de l'entreprise et l'évaluation actuelle des actions comme une occasion unique de retour de capital significatif aux actionnaires.
PVH Corp [NYSE: PVH] hat Pläne angekündigt, Vereinbarungen für beschleunigte Aktienrückkäufe (ASR) in Höhe von 500 Millionen Dollar einzugehen, um etwa 14% ihrer ausstehenden Aktien zurückzukaufen. Das Unternehmen wird zunächst etwa 5,4 Millionen Aktien erhalten, was 70% der geschätzten Gesamtkäufe entspricht.
Der ASR wird im Rahmen der bestehenden Aktienrückkaufgenehmigung von 5,0 Milliarden Dollar von PVH durchgeführt, wobei zum 2. Februar 2025 noch 1,8 Milliarden Dollar verfügbar sind. Die Transaktion wird durch 350 Millionen Dollar Bargeld und bis zu 150 Millionen Dollar kurzfristige Schulden finanziert, die PVH bis zum Ende des Geschäftsjahres 2025 zurückzahlen möchte.
Die endgültige Abrechnung, basierend auf dem volumengewichteten Durchschnittspreis der Aktien während der ASR-Laufzeit, wird im dritten Quartal des Geschäftsjahres 2025 erwartet. CFO Zac Coughlin nannte den robusten Cashflow des Unternehmens und die aktuelle Aktienbewertung als eine einzigartige Gelegenheit für eine signifikante Kapitalrückgabe an die Aktionäre.
- Significant 14% reduction in outstanding shares will boost earnings per share
- Strong cash flow generation enables $350M cash funding of buyback
- $1.8B remaining in share repurchase authorization shows financial flexibility
- Company expects to maintain year-end debt levels consistent with 2024
- Taking on $150M additional short-term debt to fund buyback
- Large cash outlay reduces financial flexibility for other investments
Insights
PVH's $500 million accelerated share repurchase (ASR) represents a substantial capital return mechanism that will remove approximately
The financing structure demonstrates prudent balance sheet management—using
What's particularly telling is management's explicit acknowledgment that they view the stock as undervalued relative to long-term growth potential under the PVH+ Plan. The accelerated format (versus a traditional gradual buyback) signals urgency to capture this perceived value gap.
For investors, this creates several positive effects: immediate EPS accretion through share count reduction, improved capital efficiency metrics, and a strong signal of management confidence in future cash generation. The remaining
The company's ability to execute this size repurchase while maintaining investment grade credit ratings demonstrates robust financial health and disciplined capital allocation prioritizing both growth investments and shareholder returns.
ASR presents unique opportunity for shareholder capital return; reflects Company’s confidence in long-term growth potential under PVH+ Plan
PVH expects to pay
Transaction to be funded by cash on hand and short-term debt, which the Company expects to repay by the end of fiscal year 2025
This ASR equates to a repurchase of approximately 7.7 million shares of the Company’s common stock based on the closing stock price on March 31, 2025, which represents approximately
Zac Coughlin, Chief Financial Officer, said, “Over the course of the last several years we have continuously strengthened our balance sheet, driven by our robust cash flow generation. We have demonstrated a prudent and balanced approach to capital allocation, including first and foremost investing in our growth initiatives – all while reinforcing our strong commitment to our investment grade credit ratings. The current valuation of our stock relative to our long-term growth potential to unlock the power of our global iconic brands, Calvin Klein and TOMMY HILFIGER, through our PVH+ Plan, offers a unique opportunity to return significant capital to shareholders.”
The Company expects to pay the dealers the repurchase amount and receive from them an initial delivery of approximately 5.4 million shares of its common stock, representing approximately
The Company expects to use a combination of approximately
About PVH Corp.
PVH is one of the world’s largest fashion companies, connecting with consumers in over 40 countries. Our global iconic brands include Calvin Klein and TOMMY HILFIGER. Our 140-plus-year history is built on the strength of our brands, our team and our commitment to drive fashion forward for good. That’s the Power of Us. That’s the Power of PVH.
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SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements in this press release, including, without limitation, statements relating to PVH Corp.’s (the “Company”) future plans objectives, expectations and intentions are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not be anticipated, including, without limitation, (i) the Company’s plans, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) that the Company does not enter into the accelerated share repurchase (“ASR”) agreements, or the timing of its entry into those agreements changes from what is described herein; (iii) that the conditions to the settlement of the ASR transactions under the applicable agreements are not satisfied; (iv) uncertainties as to the timing and prices of the repurchases under the ASR agreements; (v) unexpected costs, charges or expenses resulting from the ASR transaction ; and (vi) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
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Investors:
Sheryl Freeman
InvestorRelations@pvh.com
Media:
Communications@pvh.com
Source: PVH Corp.
FAQ
How much is PVH's accelerated share repurchase program worth and what percentage of shares will it buy back?
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