Core Insights - Estée Lauder Companies (ELC) is experiencing a turnaround, having exceeded revenue and earnings expectations in its latest quarter, with a focus on stabilization and credibility [1][4] - The "Beauty Reimagined" strategy aims to restore credibility, address declining sales, and improve market agility while responding to competition [2][3] Financial Performance - For the quarter ending September 30, ELC reported a 4% year-over-year sales growth in Q1 fiscal 2026, indicating early recovery in China and travel retail [4] - The company noted margin expansion, nearly doubled EPS, and 3% organic sales growth, reflecting a strategic long-term investment approach rather than short-term cost-cutting [5] - Operating margin increased by 300 basis points to 7.3%, supported by a 3% reduction in non-consumer-facing costs [6] Strategic Focus - ELC is prioritizing consumer needs by investing in media, product innovation, and new product launches, such as La Mer night products and Clinique serums [7] - The company has restructured to empower regional teams, allowing for faster decision-making and greater accountability [8] Leadership Philosophy - ELC's leadership philosophy is built on four pillars: behave like owners, put the consumer first, create value, and uphold governance with courage [9][10] - The finance function is emphasized to drive demand rather than merely manage costs [9] Leadership Experience - CFO Akhil Shrivastava's extensive background at Procter & Gamble has informed his approach at ELC, emphasizing a deep understanding of consumer needs and strategic prioritization [11][12]

Core Insights - PVH Corp's CFO Zac Coughlin will leave the company at the end of 2025, remaining until year-end and participating in the upcoming Q3 earnings call [1] - The company reaffirmed its Q3 and full-year 2025 revenue and non-GAAP earnings guidance [1] Leadership Changes - CEO Stefan Larsson expressed gratitude for Coughlin's contributions, highlighting his role in advancing the PVH+ Plan and driving cost efficiencies [2] - Melissa Stone has been appointed as interim CFO while the company searches for Coughlin's successor [2] Background of Key Personnel - Melissa Stone has over two decades of experience at PVH, previously holding senior finance roles [3] - Zac Coughlin has a diverse background, having served as group CFO and COO at DFS (LVMH subsidiary) and CFO of Converse at Nike, along with over a decade in finance at Ford Motor Company [3] Future Outlook - Coughlin expressed pride in his role at PVH and optimism for the continued momentum of the PVH+ Plan under the leadership of CEO Stefan Larsson [4] - In October 2025, Patricia Gabriel was appointed as the new chief supply chain officer and global head of operations, replacing David Savman [4]

Core Insights - PVH Corp. is undergoing a leadership change as CFO Zac Coughlin departs to join SiriusXM, with Melissa Stone stepping in as interim CFO while a search for a permanent replacement is conducted [8] - The company is focused on a turnaround strategy, having previously sold off its Heritage Brands to concentrate on its marquee labels, Calvin Klein and Tommy Hilfiger [2][4] - Analysts believe that Coughlin's departure will not significantly disrupt the company's operations, as the ongoing revamp was initiated before his arrival [3][4] Financial Guidance - PVH reaffirmed its Q3 and full-year 2025 guidance, expecting revenue growth in the low single digits, an improvement from previous flat expectations [5][6] - The company aims for $12.5 billion in revenue by the end of the year, despite challenges from tariffs and the consumer landscape [6] - Operating margin is projected to reach approximately 8.5%, factoring in tariff impacts [5] Market Outlook - Analysts suggest that the guidance provided is more critical than the CFO transition, indicating low risk to the company's financial targets for the year [6][7] - The timing of the CFO departure is seen as manageable, given that the most significant weeks of Q4 are still ahead [7]

Financial Guidance - PVH Corp. confirmed its revenue and earnings guidance for Q3 and full year 2025 on a non-GAAP basis[7]. Executive Changes - Zachary Coughlin, the Chief Financial Officer, will leave the company on December 31, 2025, prompting a search for a successor[9]. - Melissa Stone will serve as Interim Chief Financial Officer while the company searches for Mr. Coughlin's replacement[10]. Compensation and Benefits - Ms. Stone's base salary will increase by $20,833 monthly starting January 1, 2026, for a minimum of six months[12]. - A one-time grant of restricted stock units valued at $200,000 will vest in two equal installments on the first and second anniversaries of the grant date[12]. - A one-time cash bonus of $300,000 will be payable 90 days after Mr. Coughlin's replacement starts, contingent on Ms. Stone's continued employment[12]. - The company will cover up to $5,000 in legal fees related to Ms. Stone's interim role[12]. Press Release - The press release detailing these changes was issued on November 18, 2025[13].

Core Insights - PVH Corp. has announced a transition in its Chief Financial Officer (CFO) position, indicating a significant change in the company's financial leadership [1] Company Summary - The announcement of the CFO transition suggests a strategic shift within PVH Corp., which may impact its financial strategies and operational performance moving forward [1]

Core Viewpoint - Zac Coughlin, the CFO of PVH Corp., is leaving to join SiriusXM, with Melissa Stone stepping in as interim CFO [1][3][4] Company Transition - Coughlin will remain with PVH until the end of December and will participate in the third-quarter earnings call on December 4 [2] - The company has reaffirmed its revenue and profit guidance for the remainder of the year, providing some time to find a new CFO [2][6] Leadership Comments - CEO Stefan Larsson expressed gratitude for Coughlin's contributions, highlighting his role in advancing the PVH+ Plan and driving cost efficiencies [4] - Coughlin expressed pride in his role at PVH and optimism for the company's future under current leadership [4] Market Reaction - Investors reacted positively to the leadership change, with PVH shares declining only 3.2% to $73.67, resulting in a market capitalization of $3.5 billion [4] Analyst Insights - Analyst Tom Nikic noted that while C-suite turnover poses risks, the company's financial guidance remains unchanged, indicating low risk for current projections [5][6] - Nikic highlighted that the PVH+ Plan was largely developed before Coughlin's arrival, suggesting that the strategy is not solely attributed to him [5] - The stock is viewed as undervalued, trading at 7 times fiscal 2025 guidance, indicating potential for a significant re-rating if market conditions improve [7]

Core Insights - Calvin Klein Inc. launches a new denim campaign featuring Jung Kook from BTS, highlighting a renewed partnership with bold styles [1][2][4] Campaign Overview - The campaign emphasizes movement and performance, showcasing Jung Kook's stage presence and energy [2] - Shot in New York City, the campaign features signature Calvin Klein denim and seasonal staples, capturing an urban cool aesthetic [3] Product Highlights - The new denim collection includes the CK Emblem print, Darted Carpenter Jean, Barrel Jean, and refreshed 90s Straight Jean, all designed with a '90s edge [5] - The collection aims to provide versatile styling options while maintaining a sophisticated edge [5] Marketing Strategy - The campaign content will be rolled out on Calvin Klein's social media channels starting October 28 [6] - The latest denim styles are now available for purchase on calvinklein.com [6] Company Background - Calvin Klein is a leading global fashion lifestyle brand with a history of bold ideals, founded in 1968 [7] - The brand's global retail sales were approximately $9 billion in 2024, indicating strong market presence [8] Parent Company Information - PVH Corp. is one of the largest fashion companies globally, overseeing Calvin Klein and TOMMY HILFIGER [10] - PVH has been focused on growing Calvin Klein's worldwide relevance and long-term growth since its acquisition in 2003 [9]

Core Insights - Longleaf Partners Fund reported a return of -0.33% in Q3 2025, underperforming the S&P 500's 8.12% and Russell 1000 Value's 5.33% [1] - The fund focuses on investments in real assets and brands that generate growing free cash flow (FCF) per share, with expectations of an increase in FCF multiple from ~10x to the mid-teens [1] Company Performance - PVH Corp. (NYSE:PVH) experienced a one-month return of -0.68% and a 52-week decline of 7.58%, closing at $86.66 per share with a market capitalization of $4.17 billion on October 23, 2025 [2] - Despite volatility in quarterly earnings, PVH Corp. maintains a long-run earnings per share potential of over $10, with recovery in the Calvin Klein brand and significant share repurchases [3] Market Sentiment - PVH Corp. is not among the top 30 most popular stocks among hedge funds, with 33 hedge fund portfolios holding the stock at the end of Q2 2025, a slight decrease from 35 in the previous quarter [4] - While acknowledging PVH's investment potential, there is a belief that certain AI stocks present greater upside potential and lower downside risk [4]

Core Concept - Tommy Hilfiger, part of PVH Corp., launches "A Hilfiger Holiday" campaign featuring global style icon JISOO to celebrate the holiday season in a unique way [1] Campaign Overview - The campaign emphasizes a modern take on holiday traditions, showcasing festive elements like snow, puppies, and surprise guests [2] - JISOO's participation brings a blend of cozy, feminine styles with holiday sparkle, embodying the spirit of the season [2][3] Collection Details - The Holiday 2025 TOMMY HILFIGER Collection reinterprets classic Americana with new textures and styles, including plush rugbies, varsity jackets, and rich wool coats [3] - Occasion pieces feature a mix of timeless elegance and contemporary glitz, such as velvet tuxedo jackets and sequin-beaded accessories [4] Marketing Activations - The campaign will include dynamic activations in major cities, starting with unexpected doorbell rings to evoke surprise and joy [5] - Various branded experiences, collaborations, and seasonal events will invite consumers to engage with Tommy's unique take on prep culture [5] Availability - The Holiday 2025 TOMMY HILFIGER Collection will be accessible on tommy.com, in TOMMY HILFIGER stores globally, and through select wholesale partners [6]

Leadership Changes - PVH Corp. has appointed Patricia Gabriel as chief supply chain officer and global head of operations, succeeding David Savman, who will focus on his role as Calvin Klein's global brand president [1] - Toms has named Jessica Alsing as chief executive officer, marking the first time a woman leads the company [2] - Puma has appointed Thomas John as vice president of people and organization, effective October 16, succeeding Dietmar Knoess [3] - Vestiaire Collective has promoted Bernard Osta from chief financial officer to chief executive officer, replacing Maximilian Bittner [4] Strategic Focus - Patricia Gabriel will oversee global operations at PVH, bringing experience from her previous role at Capri Holdings [1] - Jessica Alsing previously served as chief digital officer, focusing on global e-commerce and digital engagement [2] - Bernard Osta plans to accelerate AI efforts, enhance brand and global presence, and improve authentication leadership at Vestiaire Collective [4]