Categories AlphaGraphs, Earnings, Retail

PVH Corp. (NYSE: PVH): Q4 2019 Earnings Snapshot

— PVH Corp. (NYSE: PVH) reported its fourth-quarter 2019 adjusted earnings of $1.88 per share versus $1.81 per share expected.

— Revenue rose by 5% year-over-year to $2.6 billion versus $2.5 billion expected. The growth in Tommy Hilfiger offset declines in Calvin Klein and Heritage Brands.

— Revenue in the Tommy Hilfiger business increased by 12% driven by the continued outperformance in Europe and the addition of revenue resulting from Australia and TH CSAP acquisitions.

— Revenue in the Calvin Klein business declined by 2% due to the decrease in the wholesale business resulting from the licensing of its directly operated women’s jeanswear wholesale business in the US and Canada to G-III Apparel Group.

— Revenue in the Heritage Brands business declined by 1% due to the weakness in the North American wholesale business.

— The Covid-19 global pandemic is having a significant impact on the company’s business, results of operations, financial conditions, and cash flow in 2020.

— In the first quarter, the company’s retail stores in virtually all key markets experienced a sharply reduced traffic, consumer spending trends, and sales stoppages due to the virus-related concerns, reduced travel, temporary store closures, and government-imposed restrictions.

— Given the dynamic nature of the circumstances surrounding the pandemic, the company’s results could be impacted significantly in ways it is not able to predict. Therefore, PVH has not provided guidance for the first quarter and full-year 2020.

Also Read:  Macy’s (M) has an elaborate strategy planned out for the upcoming holiday season

Most Popular

COVID-19 drove retailers up the digital path years ahead than anticipated

Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to

Snowflake (SNOW) creates a record as the most successful software IPO ever; stock more than doubles

Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming

Adobe (ADBE) sees new tailwinds as virtual shift gathers steam

The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related

Top