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PVH (PVH) 4Q16 Results: International Sales Growth Helps Offset More Challenging US

Executive Summary

  • PVH Corp. reported 4Q16 adjusted EPS of $1.23, above the consensus estimate of $1.19.
  • Total revenues were flat at $2.11 billion and above expectations of $2.09 billion. Calvin Klein revenues increased by 1%, to $795 million, while Tommy Hilfiger revenues increased by 3%, to $932 million.
  • For the full year, the company expects EPS of $7.30–$7.40 versus consensus of $7.26. Revenues for the year are expected to increase by approximately 2% and by approximately 4% on a constant-currency basis.

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