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Feb 04, 2024
PVH Q4 2024 Earnings Report
PVH exceeded revenue expectations and delivered solid performance across brands and regions in Q4 2024.
Key Takeaways
PVH Corp. reported fourth quarter 2024 results that surpassed revenue guidance, driven by strong performances from Calvin Klein and Tommy Hilfiger, particularly in international markets. Operating income and EPS were in line with expectations, and the company provided a confident outlook for 2025.
Revenue reached $2.490 billion, above guidance and up 2% on a constant currency basis.
Non-GAAP EPS was $3.72, slightly above the high end of guidance.
International segments, especially Calvin Klein International and Tommy Hilfiger International, delivered robust growth.
Gross margin improved to 58.7%, reflecting better full-price selling and reduced freight costs.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
PVH expects revenue to increase approximately 4% on a constant currency basis in FY 2025, with non-GAAP EPS projected at approximately $10.75.
Positive Outlook
- Revenue expected to grow ~4% on constant currency basis in FY 2025
- Non-GAAP EPS guidance of approximately $10.75 for FY 2025
- Brand strength expected to continue driving international growth
- Inventory position significantly improved
- Strong gross margin performance projected to continue
Challenges Ahead
- U.S. wholesale and China businesses expected to remain volatile
- Ongoing macroeconomic uncertainty could impact consumer demand
- Foreign exchange headwinds may slightly offset revenue growth
- Heritage Brands segment continues to decline
Historical Earnings Impact
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Avg. Return Before/After Earnings
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