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PVH guidances fall short of estimates amid weaker consumer backdrop; shares plunge

Investing.com -- PVH Corp reported fourth-quarter results Monday that topped Wall Street estimates, driven by strong margin growth, but the apparel maker's full-year guidance fell short of estimates amid a tough consumer backdrop for retailers. 

PVH Corp (NYSE:PVH) fell 18% in afterhours trading following the report.

For the quarter ended Feb. 4, the company reported adjusted Q4 earnings of $3.72 a share on revenue of $2.49 billion, beating estimates of $3.52 on revenue of $2.42B.

The beat comes as gross margins were boosted amid ongoing progress on its PVH+ plan that seeks to boost the growth of its Calvin Klein and Tommy Hilfiger brands.

Gross margin rose to 60.3% from 55.9% in the prior year period.

Looking ahead to 2024, EPS was guided to a range of $10.75 to $11.00, with revenue projected to decrease 6% to 7% as compared to 2023, compared with analyst estimates for EPS of $12.08.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.