Financial Data and Key Metrics Changes - Total revenue for the company increased by mid-single digits on a reported basis and was flat in constant currency, exceeding guidance [6][8] - Non-GAAP operating margin reached 10% for Q4, with a full-year operating margin of 8.8%, above guidance [8][39] - EPS for Q4 was $3.82, a 17% increase from the previous year, while full-year EPS was $11.40 [38][47] Business Line Data and Key Metrics Changes - Calvin Klein revenues were up 3% as reported and down 1% in constant currency, with strong growth in underwear and denim categories [11][42] - Tommy Hilfiger revenues increased by 7% as reported and 1% in constant currency, driven by successful marketing campaigns and partnerships [12][42] Market Data and Key Metrics Changes - EMEA region revenue was down 1% in constant currency for the full year, with a decline in D2C trends in the second half [14][46] - Americas region saw mid-single-digit growth driven by wholesale and e-commerce, while D2C revenue declined [16][41] - Asia Pacific revenue declined mid-single digits in constant currency, but returned to growth in Q4 when excluding Lunar New Year impacts [17][42] Company Strategy and Development Direction - The company is focusing on its core brands, Calvin Klein and Tommy Hilfiger, and has divested non-core businesses to enhance brand performance [4][19] - Plans for 2026 include strategic increases in marketing spend and investments in digital and store experiences [10][50] - The company aims to drive sustainable growth through operational efficiencies and improved consumer engagement [19][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertain macroeconomic environment but noted positive momentum and higher sell-through trends for spring 2026 [9][48] - The company expects slight revenue growth in 2026, with operating margins holding steady despite tariff impacts [50][54] - Management emphasized the importance of targeting high-value consumer segments and leveraging social media for brand engagement [21][24] Other Important Information - The company returned over $560 million to shareholders through share repurchases, representing 15% of shares outstanding [9][40] - Inventory levels were healthy, up 5% compared to last year, positioning the company well for the upcoming season [9][40] Q&A Session Questions and Answers Question: How does the company leverage consumer information and brand health across the PVH plan? - Management highlighted extensive consumer research showing strong brand relevance among Gen Z and young millennials, focusing on targeting high-value consumer segments and driving engagement through social media and e-commerce [63][64] Question: Can you clarify the EBIT margin expectations for the year? - Management explained that while the first quarter would see a decline in margins due to various factors, they expect sequential improvement throughout the year driven by positive momentum in sales and strategic marketing investments [68][72]

Financial Data and Key Metrics Changes - The company's net income grew by 18% excluding external factors, while consolidated net profit grew around 10% including those factors [3][21] - For Q4, net income growth reached 13%, indicating solid performance despite headwinds [3][21] - Revenue growth for the full year was 19%, with a 15% growth in Q4 [39][21] Business Line Data and Key Metrics Changes - Payments in Kazakhstan saw a TPV growth of 14% year-over-year in Q4 and 19% for the full year, driven by consistent transaction volume trends [21] - Marketplace GMV growth was 12% in Q4 and 19% for the full year, with e-commerce being the fastest-growing segment at 9% GMV growth in Q4 and 16% for the full year [22][25] - Fintech growth was 4% in Q4 and 13% for the full year, with merchant financing being a key growth driver [32][34] Market Data and Key Metrics Changes - The smartphone category negatively impacted GMV, with a 24% decline in Q4, but is expected to return to growth in 2026 [23][25] - E-grocery is the fastest-growing e-commerce business, with a GMV growth of 53% for the year [26] - The number of engaged consumers in Kazakhstan increased by 66%, indicating strong consumer loyalty [19] Company Strategy and Development Direction - The company is focused on long-term growth and value creation, proposing a dividend of KZT 850 per ADS [2] - E-commerce and delivery services are prioritized for growth, with a focus on increasing consumer engagement and transaction frequency [11][12] - The strategy in Turkey mirrors that of Kazakhstan, emphasizing engaged consumers over total user count [16][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged external challenges such as high interest rates and tax changes but remains optimistic about future growth [3][20] - The company plans to manage the Turkey business around EBITDA breakeven while continuing to invest in consumer engagement [50][52] - There is an expectation for interest rates to potentially decrease in the medium term, which would benefit the business [43][70] Other Important Information - The company has launched innovative payment solutions like "pay by palm," achieving rapid adoption with nearly half a million customers in Almaty [8][9] - The brand is recognized as the number one consumer brand across various categories, significantly outpacing competitors [5][6] Q&A Session Summary Question: Can you comment on the order trajectory and potential peak losses in Turkey? - Management indicated that they will manage the Turkey business around EBITDA breakeven and focus on consumer engagement through faster delivery and technology investments [50][51] Question: What is the competitive environment in Turkey? - Management emphasized focusing on high-quality products and services rather than on competition, aiming to increase engaged customers and order frequency [72][73] Question: Can you provide insights on the sustainable dividend payout going forward? - The company declared a dividend of KZT 850 per share, which is expected to be sustainable for the remainder of the year, with no plans to cut dividends [67][70]

Financial Data and Key Metrics Changes - The company's net income grew by 18% excluding external factors, while consolidated net profit grew around 10% including those factors [3] - For Q4, net income growth reached 13%, indicating solid performance despite headwinds [3] - Revenue growth for the full year was 19%, with a 15% growth in Q4 [41] Business Line Data and Key Metrics Changes - Payments in Kazakhstan saw a TPV growth of 14% year-over-year in Q4 and 19% for the full year [21] - Marketplace GMV growth was 12% in Q4 and 19% for the full year, with e-Commerce being the fastest-growing segment at 9% GMV growth in Q4 and 16% for the full year [22][25] - Fintech growth was 4% in Q4 and 13% for the full year, driven by merchant and micro business financing [33] Market Data and Key Metrics Changes - The smartphone category negatively impacted GMV, with a decline of around 24% in Q4, but it is expected to return to growth in 2026 [23] - e-Grocery is the fastest-growing e-Commerce business, with GMV growth of 53% for the year [26] Company Strategy and Development Direction - The company is focused on long-term growth and value creation while resuming dividends due to strong cash generation [2] - Emphasis on consumer engagement and the quality of products and services to drive repeat purchases and loyalty [6][19] - Plans to continue investing in technology and consumer engagement in Türkiye, aiming for EBITDA breakeven [20][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of external factors such as high interest rates and tax changes on performance [3][35] - The company is optimistic about future growth, particularly in e-Commerce and fintech, despite current challenges [20][36] Other Important Information - The proposed dividend is KZT 850 per ADS, subject to shareholder approval [2] - The company has a strong brand presence, with significant consumer engagement metrics [4][5] Q&A Session Summary Question: Can you comment on the order trajectory and potential peak losses in Türkiye? - Management indicated that they will manage the Türkiye business around EBITDA breakeven while investing in consumer engagement and technology [50][52] Question: What is the nature of the $300 million investment from Rabobank? - The investment will support the launch of a wider range of financial products and is already factored into dividend considerations [54][55] Question: How does the company view the competitive environment in Türkiye? - The focus remains on product quality and consumer engagement rather than competition, with a commitment to improving services [66][71] Question: Can you clarify the sustainability of the dividend payout? - The company confirmed that the proposed dividend is sustainable for the remainder of the year, despite potential regulatory and tax impacts [67][69]

Core Insights - Packaging has evolved from a functional necessity to a dynamic tool that drives business growth through technology integration [1] - Connected packaging allows consumers to interact with products, enhancing engagement and providing brands with valuable consumer data [2] Consumer Engagement - Connected packaging enables interactions such as accessing exclusive content, participating in loyalty programs, and receiving personalized offers [2] - A leading beverage brand's use of QR codes resulted in a 35% increase in app downloads and a 20% boost in sales during the campaign, demonstrating the effectiveness of connected packaging [3] Data Collection and Insights - Connected packaging serves as a powerful tool for data collection, allowing brands to track consumer interactions and gain insights into preferences and purchasing patterns [4] - A beauty brand's use of NFC tags to educate customers on sustainable sourcing led to a 40% increase in positive brand sentiment and a 15% growth in repeat purchases, showcasing the value of data-driven insights [5] Revenue Generation - The integration of digital elements into packaging can directly influence a brand's revenue by offering added value through exclusive content, discounts, or loyalty rewards [6] - Connected packaging initiatives can achieve scan rates of up to 14%, significantly outperforming traditional digital advertising click-through rates, driving immediate sales and fostering long-term brand loyalty [7]