Pvh Corporation Stock Price, News & Analysis

PVH Corp. has announced the five finalists for the 2022 Tommy Hilfiger Fashion Frontier Challenge, selected from 259 applicants worldwide. The initiative promotes inclusivity in fashion, focusing on marginalized entrepreneurs, including BIPOC and those with disabilities. Each finalist will present their business concept to a jury, including Tommy Hilfiger and activist Halima Aden, at the finale on February 9, 2023. The challenge offers a €200,000 award and mentorship opportunities to winners, aligning with PVH's sustainability mission to 'Waste Nothing and Welcome All.'

PVH Corp. (NYSE:PVH) has appointed Eva Serrano as Global Brand President of Calvin Klein, effective March 2023. With over 20 years of leadership experience at Inditex, Serrano aims to enhance Calvin Klein's global presence. Reporting to Stefan Larsson, CEO of PVH, she brings expertise in product, marketing, and supply chain management. Serrano expressed her passion for the brand and the desire to unlock its potential worldwide. This appointment aligns with PVH’s ongoing PVH+ Plan for growth.

PVH Corp. has successfully refinanced its senior credit facilities through new senior credit facilities and cash reserves. The new facilities include $1.2 billion in upsized revolving credit and approximately €440.6 million in Term Loan A, maturing in December 2027, marking a three-and-a-half-year extension. This refinancing maintains PVH's capital structure with no expected changes to its interest expenses. The company's iconic brands, including Calvin Klein and Tommy Hilfiger, continue to connect with consumers globally.

PVH Corp. has extended its licensing agreements with G-III Apparel Group for Calvin Klein and TOMMY HILFIGER in the U.S. and Canada. These agreements will have staggered expirations from 2025 to 2027, allowing PVH to gradually transition core product categories back in-house. This move is part of PVH’s strategic growth plan to enhance its brand operations and supply chain efficiency, as these licensed categories accounted for one-third of global licensing revenue and under 10% of consolidated EBIT in 2021.

PVH Corp. reported a 2% revenue decrease to $2.281 billion in Q3 2022, although it rose 7% in constant currency. GAAP EPS was $(2.88), below guidance, impacted by a $417 million goodwill impairment charge. Non-GAAP EPS was $2.60, exceeding expectations. Full year revenue is projected to decrease about 3%, with an EPS outlook of approximately $1.37 GAAP. Notably, a 32% inventory increase and a gross margin decline to 55.9% were reported, reflecting higher costs. Despite challenges, the CEO noted strong consumer engagement and the company's focus on sustainable growth.

PVH Corp (NYSE: PVH) announced its third quarter 2022 earnings release set for November 30, 2022, after market close. Following this, a conference call will occur on December 1, 2022, at 9:00 A.M. ET, hosted by CEO Stefan Larsson and CFO Zac Coughlin. The call will be available live online, with a replay accessible for 12 months on the company's website.

PVH is a leading fashion company with global brands such as Calvin Klein and TOMMY HILFIGER.

PVH Corp. has announced a quarterly cash dividend of $0.0375 per share, payable on December 21, 2022, to shareholders of record on November 30, 2022. This reflects the company's commitment to return income to its investors while maintaining its operations across over 40 countries with iconic brands like Calvin Klein and TOMMY HILFIGER.

PVH Corp. announced the appointment of Sara Bland as Executive Vice President and Chief Strategy Officer, effective October 31. Ms. Bland joins from Kontoor Brands, where she led global strategy, and has significant experience at companies like GlaxoSmithKline and PepsiCo. CEO Stefan Larsson highlighted her analytical skills and brand-centric approach as vital to the company's PVH+ strategy aimed at enhancing Calvin Klein and Tommy Hilfiger's growth. Bland expressed enthusiasm for joining the company during this transformative period.

The PVH Foundation is joining the $250M Fashion Climate Fund as a lead funder, aiming to reduce carbon emissions in the fashion industry by 2030. This initiative includes commitments from companies like Lululemon and H&M, each investing $10M. The Fund focuses on crucial supply chain improvements, such as renewable energy and sustainable materials, potentially unlocking $2B in further investments. Aii, founded by industry leaders, facilitates this collaboration to drive meaningful climate action in fashion.