PVH

PVH Corp.

Consumer


Presented:09/12/2013
Price:$122.80
Cap:$9.95B
Current Price:$97.43
Cap:$5.44B

Presented

Date09/12/2013
Price$122.80
Market Cap$9.95B
Ent Value$13.61B
P/E Ratio25.01x
Book Value$55.60
Div Yield0.1%
Shares O/S81.05M
Ave Daily Vol720,000
Short Int1.58%

Current

Price$97.43
Market Cap$5.44B
PVH Corp. operates as an apparel company in the United States and internationally. It engages in the design, marketing, and retail of branded dress shirts, neckwear, sportswear, footwear, athletic apparel, body wear, eyewear, sun wear, watches, handbags, men’s tailored clothing, men’s dress furnishings, accessories, women’s dresses and suits, socks, small leather goods, fragrances, home and bedding products, bathroom accessories, and luggage. The company offers its products under the own brands, such as Calvin Klein and Tommy Hilfiger, as well as Van Heusen, IZOD, Bass, ARROW, and Eagle; and licensed brands comprising Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, JOE Joseph Abboud, MICHAEL Michael Kors, Michael Kors Collection, Chaps, Donald J. Trump Signature Collection, DKNY, Elie Tahari, Nautica, Ted Baker, J. Garcia, Claiborne, Robert Graham, U.S. POLO ASSN., Ike Behar, Axcess, Jones New York, and John Varvatos. It also licenses its own brands over a range of products. The company distributes its products at wholesale in national and regional department, mid-tier department, mass market, and specialty and independent stores in the United States and Canada, as well as through e-commerce Websites. PVH Corp. was founded in 1881 and is based in New York, New York.

Please note, this idea was updated on 1/7/2015 and can be read here: Long – PVH Corp (PVH) (Update).

Highlights

The presenter is bullish on the outlook for PVH Corp. (PVH). He believes the apparel company’s two largest brands - Tommy Hilfiger (~50% of total revenue) and Calvin Klein (~20% of total revenue) – are in the midst of a secular growth phase, and should continue to drive high single digit (%) top line growth. He sees the potential for PVH’s 2015 EPS to reach $11.00 (vs. the Street at ~$9.50 per-share), and noted the materially higher CAGR implied by his EPS target (25% vs. 15%).

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Idea Discussion

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