PVH, Parent Of Calvin Klein, Tommy Hilfiger, Impresses Analysts With Q1 Earnings Beat
Portfolio Pulse from Priya Nigam
PVH Corp (NYSE:PVH), the parent company of Calvin Klein and Tommy Hilfiger, reported better-than-expected Q1 earnings, leading to a 2% rise in its stock price. Analysts from BMO Capital Markets, JPMorgan, Goldman Sachs, and Wedbush provided positive feedback, with some raising their price targets. Despite a 10% revenue decline, PVH's gross margins and adjusted earnings surpassed expectations.
June 05, 2024 | 3:00 pm
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PVH Corp reported better-than-expected Q1 earnings, leading to a 2% rise in its stock price. Analysts from BMO Capital Markets, JPMorgan, Goldman Sachs, and Wedbush provided positive feedback, with some raising their price targets. Despite a 10% revenue decline, PVH's gross margins and adjusted earnings surpassed expectations.
PVH Corp's better-than-expected Q1 earnings and positive analyst feedback are likely to boost investor confidence in the short term. The company's strong gross margins and adjusted earnings, despite a revenue decline, indicate robust financial health.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100