Seeking Alpha

PVH selling G.H. Bass & Co. to G-III for $50M, updates guidance

  • PVH is unloading footwear brand G.H. Bass & Co., owned by the company since 1987, to G-III Apparel (GIII) for $50M in cash. The deal is expected to close in Q4. (PR)
  • PVH expects the sale to hurt its 2013 EPS by $0.05, and to be dilutive by $0.15/share on a full-year basis. Nonetheless, the company is reaffirming its guidance for 2013 EPS of $7. It's also raising its Q3 EPS guidance to $2.25, above prior guidance of $2.20 and a $2.22 consensus.
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