Description

PVH Corporation’s Mixed Bag: Calvin Klein & Tommy Hilfiger Shine But Global Headwinds & China Are A Cause Of Concern!

PVH Corp’s recent earnings reflects a mix of achievements and challenges in the fiscal year 2024 and sets cautious expectations for 2025. The company, which owns iconic brands Calvin Klein and Tommy Hilfiger, surpassed its initial 2024 guidance both in terms of revenue and non-GAAP EPS. However, it faced a decrease in overall revenue compared to previous years, largely attributed to divestitures and external economic factors. One of the positive outcomes for PVH in 2024 was the strengthening of its gross margin, which improved by 120 basis points, reaching a record high of 59.4%. Additionally, the company maintained its EBIT margins at 10%, demonstrating cost efficiency despite revenue pressures. The multiyear brand-building initiative, the PVH+ Plan, is credited for these results, aiding in enhancing consumer engagement and focusing resources on Calvin Klein and Tommy Hilfiger, as they phased out other brands.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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