Revenue Performance - Second quarter revenue decreased 6% to $2.074 billion compared to $2.207 billion in the prior year period, in line with guidance[1] - Full year revenue outlook reaffirms a projected decrease of 6% to 7%, including a 2% reduction from the sale of the Heritage Brands women's intimates business[13] - Third quarter revenue is projected to decrease 6% to 7% compared to the third quarter of 2023, with GAAP EPS expected to be approximately $2.30[16] - Net sales for the quarter ended August 4, 2024, were $1,965.1 million, a decrease of 6.7% compared to $2,105.2 million for the same quarter last year[27] - Total revenue for the six months ended August 4, 2024, was $4,026.2 million, down from $4,364.9 million in the prior year, reflecting a decline of 7.7%[27] - Total revenue for the quarter ended August 4, 2024, was $2,074.3 million, a decrease of 5.9% compared to $2,207.0 million for the quarter ended July 30, 2023[41] - Total revenue for Tommy Hilfiger International was $770.0 million, reflecting a 6.0% decrease compared to $818.8 million for the same period last year[49] - Total revenue for Calvin Klein International was $611.9 million, down 2.2% from $625.4 million year-over-year[49] Earnings and Profitability - GAAP EPS for the second quarter was $2.80, exceeding guidance of approximately $2.25, while non-GAAP EPS was $3.01, also above guidance[1] - Net income for the quarter was $158.0 million, significantly higher than $94.2 million in the same quarter last year, representing a year-over-year increase of 67.8%[27] - Diluted net income per share for the quarter was $2.80, compared to $1.50 for the same quarter last year, marking an increase of 86.7%[27] - Non-GAAP net income for the quarter was $170.2 million, compared to $124.4 million in the same quarter last year, marking a 36.8% increase[32] - Earnings before interest and taxes for the quarter increased to $173.9 million, up from $143.3 million in the same quarter last year, reflecting a growth of 21.0%[27] - The company reported a pre-tax income of $154.8 million for the quarter, compared to $119.7 million in the same quarter last year, an increase of 29.3%[27] - Total earnings before interest and taxes for the company reached $379.0 million, with a decrease of $5.3 million due to adjustments[46] Cost Management and Expenses - Selling, general and administrative expenses for the quarter were $1,083.3 million, down from $1,138.5 million in the prior year, a decrease of 4.8%[27] - The company is focusing on a multi-year initiative to simplify its operating model, which includes a cost reduction strategy aimed at reducing headcount costs by approximately 10% by the end of 2023[25] - The company plans to bring in-house most of the product categories that are or had been licensed to G-III Apparel Group, Ltd., which is expected to enhance operational efficiency[25] - SG&A expenses for the quarter were $1,083.3 million, down from $1,138.5 million in the previous year, a decrease of 4.8%[33] Debt and Cash Flow - The company has significant levels of outstanding debt, which may impact its ability to operate as intended, highlighting the importance of managing cash flows effectively[25] - Interest expense is projected to decrease to approximately $70 million compared to $88 million in 2023, primarily due to prior debt repayment[15] - Cash and cash equivalents increased to $610.0 million from $372.8 million year-over-year, showing a 63.7% rise[39] - Total liabilities decreased to $11,237.7 million from $11,542.4 million, reflecting a reduction of 2.6%[39] Future Outlook - The company expects a GAAP net income per common share of $11.20 to $11.45 for the full year 2024, with non-GAAP earnings guidance of $11.55 to $11.80[54] - The estimated revenue decrease for 2024 is projected to be between 6% to 7% on a GAAP basis, with a similar decrease expected on a constant currency basis[56] - The operating margin on a non-GAAP basis is estimated to be approximately 10.1% for 2024[55] - The company emphasizes the importance of constant currency revenue information to assess business performance excluding foreign exchange impacts[48] Segment Performance - Tommy Hilfiger North America net sales were $296.2 million, down from $297.6 million in the previous quarter, representing a decline of 0.5%[41] - Calvin Klein North America net sales increased slightly to $269.7 million from $269.9 million, showing a marginal decrease of 0.1%[41] - Tommy Hilfiger International net sales decreased to $750.8 million from $800.2 million, a decline of 6.2%[41] - Calvin Klein International net sales decreased to $597.9 million from $610.3 million, a decline of 2.0%[45] - Total Calvin Klein revenue for the quarter was $1,817.1 million, down from $1,827.9 million, a decrease of 0.7%[45] - Heritage Brands Wholesale net sales significantly dropped to $50.5 million from $127.2 million, a decline of 60.3%[45] - Royalty revenue for the total company increased to $87.7 million from $80.1 million, an increase of 9.9%[45] - Advertising and other revenue for the total company was $21.5 million, slightly down from $21.7 million, a decrease of 0.9%[45]

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PVH Corp. PVH, the clothing company that owns brands such as Tommy Hilfiger and Calvin Klein, will release earnings results for its second quarter, after the closing bell on Tuesday, Aug. 27. Analysts expect the New York-based company, which also owns Warner's, Olga and True & Co., to report quarterly earnings at $2.29 per share. That's up from $1.98 per share in the year-ago period. PVH is projected to post revenue of $2.07 billion, according to data from Benzinga Pro. On Aug. 7, PVH declared a quarterly c ...

olaser Soon after my last article on the Tommy Hilfiger and Calvin Klein brands' owner PVH Corp. (NYSE:PVH), its stock price fell off a cliff following its final quarter (Q4 2023) and full-year 2023 (year ending January 2024) results (see chart below). The results themselves weren't bad compared with expectations. But there was a very good reason for the price decline. The outlook, as the company expected the number to contract by 6-7% in 2024 in both reported and constant currency terms. With a 10% year-on ...

PVH Corp. PVH, the clothing company that owns brands such as Tommy Hilfiger and Calvin Klein, will release earnings results for its second quarter, after the closing bell on Tuesday, Aug. 27. Analysts expect the New York-based company, which also owns Warner's, Olga and True & Co., to report quarterly earnings at $2.29 per share. That's up from $1.98 per share in the year-ago period. PVH is projected to post revenue of $2.07 billion, according to data from Benzinga Pro. With the recent buzz around PVH, some ...

Analysts on Wall Street project that PVH (PVH) will announce quarterly earnings of $2.27 per share in its forthcoming report, representing an increase of 14.7% year over year. Revenues are projected to reach $2.07 billion, declining 6.3% from the same quarter last year. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings release ...

PVH Corporation (PVH) is likely to post a year-over-year decline in its top line when it reports second-quarter fiscal 2024 results on Aug 27, after market close. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.1 billion, indicating a drop of 6.3% from the prior-year reported number. The consensus estimate for earnings is pegged at $2.27 per share, which indicates an increase of 14.7% year over year. The consensus mark has remained stable in the past 30 days. In the last reported quarter ...

PVH Corporation (PVH) seems to be well-poised, thanks to its robust strategic initiatives and strong fundamentals. The company's multi-year strategy PVH+ Plan to drive sustainable growth is working smoothly while the expansion efforts in the international business also bode well. Strength in brands, particularly Calvin Klein and TOMMY HILFIGER, is an added positive. The company aims at developing a demand and data-driven operating model with a systematic and repeatable product-creation model. This model wil ...

But there is more to this whole P/E story. Because not only low P/E, stocks with a rising P/E can also fetch strong returns. In this regard, investors can bet on the likes of lululemon athletica (LULU) ,PVH (PVH) ,TAL Education Group (TAL) , Fastly (FSLY) and Shopify (SHOP) . The concept is that as earnings rise, so should the price of the stock. As forecasts for expected earnings come in higher, strong demand for the stock should continue to push up its prices. After all, astock's P/E gives an indication o ...

Persistent inflationary pressures and supply chain disruptions are major hindrances for many participants in the Zacks Textile - Apparel industry. Players in the space are also feeling the impact of decreased consumer demand. The industry has declined 11.8% during this period against the broader sector's growth of 1%. Meanwhile, the S&P 500 has rallied 22.3% in the same period. The Zacks Consensus Estimate for lululemon's current fiscal year EPS has remained unchanged in the past 30 days at $14.29. The LULU ...