Oct. 2, 2013, 6:42 PM
- 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.
Sep. 9, 2013, 6:49 PM
- PVH Corp. (PVH) Q2 beats across the board, but the shares are lower after-hours as the company lowers guidance for Q3.
- Net earnings however swung to a loss, as acquisition costs offset a 47% rise in total sales Y/Y.
- Tommy Hilfiger revenue rose 11% to $799M, as same- store sales were up 10% in North America and 11% in its international business.
- Calvin Klein revenue more than doubled to $671M, mainly due to the Warnaco acquisition.
- Total gross margin narrowed to 54.4% from 55.6%.
- For the current quarter, the company expects its EPS to come in around $2.20 a share on revenue of $2.2B, below Street estimates of $2.28 per share on revenue of $2.23B.
- Shares -4.3% AH.
Sep. 9, 2013, 4:21 PM
Sep. 9, 2013, 2:21 PM
- Deutsche Bank hikes its PT on PVH to $145 ($125 previous) and reiterates a Buy rating ahead of the company's Q2 results announcement later today.
- Analyst Greg Poole expects an in-line Q2, a modest raise, and continued long-term growth. Poole notes, "Despite a recent slowdown in U.S. apparel industry trends, the market should continue to like the PVH story given: (1) potential synergies from the Warnaco integration, (2) out-year payoffs to this year's investments, and (3) a high-quality play on global growth (particularly if Europe is bottoming)."
Sep. 9, 2013, 12:10 AM
Sep. 8, 2013, 5:35 PM
Aug. 28, 2013, 10:50 AM
- Retail traffic to U.S. stores has declined in 8 out of the last 10 weeks, according to data compiled from ShopperTrak.
- Though a few on-trend firms such as Michael Kors (KORS +0.1%) and Express (EXPR +8.5%) are still firing on all cylinders, and a heat wave in the Midwest has had an effect, the overall trend for the back-to-school season and holiday season looks weak.
- Analysts also think consumers are likely to pick up their reliance on deals as discretionary spending on housing and automobiles "crowds out" normal outlays.
- Related ETFs: XRT, RTH, PMR, RETL.
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Aug. 12, 2013, 12:02 PM
- Goldman's Lindsay Drucker Mann resumes TIF, RL at Neutral, PVH at Buy.
- Tiffany & Company (TIF +0.1%) is resumed at Neutral (six-month PT $84) as optimism regarding a "compelling long-term earnings runway ... is tempered by near-term earnings headwinds, including currency and an early-stage US turnaround effort."
- Ralph Lauren (RL -0.8%) is resumed at Neutral (six-month PT $205). The retailer has delivered "consistent top-line and EPS growth" for a decade against a "backdrop ... loaded with fashion and execution risk."
Jun. 13, 2013, 9:11 AM
Jun. 12, 2013, 5:30 PM
Jun. 12, 2013, 4:41 PMMore on PVH's Q1: Non-GAAP EPS comes in well ahead of both company and Street estimates. Revenue jumps 36% Y/Y due to the acquisition of Warnaco and gains at Tommy Hilfiger. On a segment-by-segment basis, comps growth was 4% and 5% for Calvin Klein North America and International, respectively, 5% and 4% for Tommy Hilfiger North America and International, and -7% for Heritage Brands. FY13 guidance reiterated at $7/share on $8.2B in sales. Shares +7.4% AH. (PR) | Comment!
Jun. 12, 2013, 4:12 PM
Jun. 12, 2013, 12:10 AM
Jun. 11, 2013, 5:35 PM
Jun. 10, 2013, 7:39 AMA slight acceleration in retail sales in China during May up to a 12.9% growth pace bodes well for high-end sellers looking to keep up momentum in the nation. U.S. firms looking for double-digit sales growth to continue in China include Coach (COH), Tiffany (TIF), Ralph Lauren (RL), Michael Kors (KORS), V.F. Corp (VFC), and Warnaco Group (WRC). | Comment!
Apr. 15, 2013, 1:29 PMThe LVMH read-through to luxury stocks: The LVMH report is consistent with the latest batch of retail sales data from China which indicates solid growth is still out there - but just not at the frothy levels of years past. An important trend to watch is that demand in Europe is getting considerable support from the steady string of tourists pouring in from China which magnifies the impact that Chinese consumers have on the sector. | Comment!
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