PVH demonstrated strong financial performance with significant growth in direct-to-consumer sales and improved profitability despite facing macroeconomic challenges, particularly in Europe. The company managed to effectively control inventory levels and increased shareholder returns through share buybacks. However, the challenging macroeconomic environment in Europe and pressure in the wholesale segment indicate areas of concern.

Company Guidance

During PVH's third quarter earnings call for fiscal year 2024, the company reported a 4% increase in overall revenue on a reported basis, aligning with their guidance, and a 1% increase in constant currency. The call highlighted a high single-digit growth in the direct-to-consumer sector, including a double-digit rise in owned and operated e-commerce. EBIT grew by 13% compared to the previous year, with projections for a 30% increase in Q4, aiming for a 12% EBIT margin. Despite macroeconomic challenges, particularly in Europe, the company focused on expanding gross margins and enhancing profitability. Inventory levels improved significantly, down 19% at quarter-end, and the company announced an increase in share repurchases to approximately $550 million, up from $400 million. PVH raised its EPS guidance by $0.10 for the full year, reflecting strong expense management and a disciplined approach to cost efficiency.

Strong Revenue Growth

PVH reported a 4% increase in revenue on a reported basis and 1% in constant currency, driven by strong performance in DTC, despite challenging macroeconomic conditions, particularly in Europe.

Improved EBIT and Margins

PVH grew EBIT by 13% compared to last year, with significant margin expansion. Q4 EBIT is projected to grow by over 30% with an approximate 12% EBIT margin.

Direct-to-Consumer Business Success

High single-digit growth in DTC business across both brands and all regions, with double-digit growth in owned and operated e-commerce.

Inventory Management

Inventory levels were down 19% at the end of the quarter, with an aim to reduce inventory in relation to sales by 25% by the end of fiscal 2024.

Increased Share Buybacks

PVH increased its share repurchase plan to approximately $550 million, up from $400 million previously.

Asia Pacific Growth

Double-digit constant currency growth in DTC businesses across Asia Pacific, including China.

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PVH (PVH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PVH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 29, 2018	2018 (Q2)	- / 2.18	1.69	28.99% (+0.49)	―	―
Nov 29, 2018	2018 (Q3)	- / 3.21	3.02	6.29% (+0.19)	―	―
Mar 27, 2019	2018 (Q4)	- / 1.84	1.58	16.46% (+0.26)	―	―
May 29, 2019	2019 (Q1)	- / 2.46	2.36	4.24% (+0.10)	―	―
Aug 28, 2019	2019 (Q2)	- / 2.10	2.18	-3.67% (-0.08)	―	―
Nov 25, 2019	2019 (Q3)	- / 3.10	3.21	-3.43% (-0.11)	―	―
Apr 01, 2020	2019 (Q4)	- / 1.88	1.84	2.17% (+0.04)	―	―
Jun 11, 2020	2020 (Q1)	- / -3.03	2.46	-223.17% (-5.49)	―	―
Sep 02, 2020	2020 (Q2)	- / 0.13	2.1	-93.81% (-1.97)	―	―
Dec 02, 2020	2020 (Q3)	- / 1.32	3.1	-57.42% (-1.78)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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PVH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 04, 2024	$112.86	$108.86	-3.54%
Aug 27, 2024	$104.42	$97.71	-6.43%
Jun 04, 2024	$119.17	$123.70	+3.80%
Apr 01, 2024	$139.63	$108.60	-22.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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