Pvh Corporation Stock Price, News & Analysis

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.

PVH Corp. (NYSE: PVH) announced the departure of Trish Donnelly, CEO of PVH Americas and Calvin Klein Global, to pursue other opportunities, effective November 30, 2022. To enhance its strategy, PVH will split her responsibilities into two distinct roles and has initiated a global search for replacements. In the interim, Stefan Larsson, current CEO of PVH Corp., will oversee both regions. Larsson emphasized the need for focused leadership to fully realize the potential of the Americas and Calvin Klein brands as part of the company's PVH+ Plan.

PVH Corp. (NYSE: PVH) reported second quarter revenue of $2.132 billion, down 8% year-over-year, with a GAAP EPS of $1.72, below guidance of $2.20. A $50 million pre-tax charge for exiting the Russia market impacted results. Non-GAAP EPS stood at $2.08, slightly above the $2.00 guidance, but foreign currency translation negatively affected results more than expected. For the full year, revenue is projected to decline by 4% to 3%, with GAAP EPS guidance revised down to approximately $7.64 from $9.20. Cost-reduction measures aim for savings exceeding $100 million.

PVH Corp. (NYSE: PVH) will release its Q2 2022 earnings results on August 30, 2022, post-market. A conference call hosted by CEO Stefan Larsson and CFO Zac Coughlin will take place on August 31, 2022, at 9:00 A.M. ET to discuss these results. The call will be streamed live on the Company’s website, and a replay will be available for 12 months, along with an audio replay for 48 hours. The Company emphasizes its strategy to connect its iconic brands closer to consumers, maintaining financial transparency through its SEC filings.

Tommy Hilfiger has launched a 360-resale program in partnership with thredUP, aimed at promoting sustainability and circular fashion in the U.S. The program allows consumers to send in pre-owned women's and kids' clothing, receiving shopping credits in return. This initiative aligns with Tommy Hilfiger's goal to become a circular brand by 2030. The program leverages thredUP's Resale-as-a-Service technology, enhancing the brand's sustainability efforts while appealing to eco-conscious consumers.

PVH Corp. (NYSE:PVH) has released its 2021 Corporate Responsibility (CR) report, highlighting advancements in its Forward Fashion strategy while navigating a challenging global environment. The report reveals a 50% increase in sustainable products for Calvin Klein and significant sustainability efforts from TOMMY HILFIGER. The company reports that for the first time, the majority of energy consumed came from renewable sources. The report also emphasizes enhanced transparency with stakeholders, showcasing a commitment to social responsibility and environmental impact.

PVH Corp. has appointed Ajay Bhalla, President of Cyber & Intelligence at Mastercard, to its Board of Directors as part of ongoing board refreshment efforts. This move aims to enhance PVH's leadership with diverse experiences supporting the PVH+ Plan, a strategy aimed at accelerating growth and strengthening the connection between the company’s iconic brands, Calvin Klein and TOMMY HILFIGER, and consumers. Bhalla's expertise in digital commerce and cybersecurity aligns with PVH’s goals for digital advancement.

PVH Corp. has declared a quarterly cash dividend of $0.0375 per share, payable on September 28, 2022, to stockholders of record on September 7, 2022. This announcement reflects the company's commitment to returning value to its shareholders. PVH, which operates brands like Calvin Klein and TOMMY HILFIGER, focuses on connecting its iconic brands with consumers through innovation and sustainability. The company emphasizes its dedication to driving fashion forward while ensuring future growth.