PVH CorpPVH beat EPS estimates and profitability exceeded expectations on disciplined execution of the PVH+ Plan, though Q2 revenue fell 3.2% and next-quarter EPS guidance missed.
PVH reported second-quarter revenues of $2.10 billion, down 3.2% year on year, in a quarter that came in line with analysts' expectations on the top line but saw EPS guidance for the next quarter miss expectations. The company, whose brands include Calvin Klein and Tommy Hilfiger, beat analysts' EPS estimates for the quarter, and Chief Executive Officer Stefan Larsson said profitability exceeded expectations on disciplined execution of the PVH+ Plan, with direct-to-consumer growth in the Americas and APAC and improved performance in EMEA versus the prior quarter. PVH stock is up 6.5% since reporting and trades at $77.00. Across the 15 consumer discretionary apparel and accessories stocks tracked, group revenues beat consensus by 1.2% while next-quarter revenue guidance came in 4.7% below, and the shares are down 15.4% on average since the latest results. Among peers, Figs reported revenues of $196.6 million, up 28.8% year on year and 5.6% above expectations, while Stitch Fix posted revenues of $324.4 million, up 4.2% and in line, but delivered the group's weakest guidance update.
PVH CorpPVH beat EPS estimates and profitability exceeded expectations on disciplined execution of the PVH+ Plan, though Q2 revenue fell 3.2% and next-quarter EPS guidance missed.
Stitch FixStitch Fix posted in-line revenue but delivered the group's weakest guidance update.
G-III Apparel Group Ltd
Movado Group Inc
Figs IncFigs reported revenues of $196.6 million, up 28.8% year on year and 5.6% above expectations.