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PVH (NYSE: PVH) 4Q18 Results: Tommy Hilfiger Exits 2018 With a 16% International Comp Rise and a Solid 2019 Order Book

Executive Summary

  • PVH 4Q18 revenues declined 1% to $2.48 billion, as an extra week in the year-ago period and a calendar shift reduced revenues approximately $125 million. Adjusted 4Q18 EPS rose 16.5% to $1.84 versus $1.58 in the same period last year and the $1.76 consensus estimate.
  • Tommy Hilfiger is the stallion in PVH’s brand portfolio, achieving 5% revenue growth (constant currency), 16% comps internationally and 5% comps in North America (NA).
  • The outlook for 2019 includes adjusted EPS of $10.30-10.40 versus $9.60 in the same period last year and includes $0.22 in negative currency impact.

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