PVH

PVH Corp.

Consumer


Presented:06/26/2014
Price:$116.55
Cap:$9.60B
Current Price:$97.43
Cap:$5.44B

Presented

Date06/26/2014
Price$116.55
Market Cap$9.60B
Ent Value$13.19B
P/E Ratio25.01x
Book Value$55.60
Div Yield0.1%
Shares O/S82.35M
Ave Daily Vol1,150,000
Short Int2.81%

Current

Price$97.43
Market Cap$5.44B
PVH Corp. operates as an apparel company in the United States and internationally. It is engaged in the design, marketing, and retail of branded dress shirts, neckwear, sportswear, swim products, footwear, athletic apparel, body wear, eyewear, sunwear, watches, handbags, men’s tailored clothing, men’s dress furnishings, accessories, women’s dresses and suits, women’s performance apparel, golf apparel, hosiery, socks, small leather goods, fragrances, home and bedding products, bathroom accessories, and luggage. The company offers its products under its own brands, such as Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga, and Eagle; licensed brands comprising Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, 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; and trademarks, as well as various other licensed and private label brands. It also licenses its own brands over a range of products. The company distributes its products at wholesale in department, chain, specialty, mass market, club, off-price, and independent stores; and through company-operated full-price specialty and outlet stores, as well as through e-commerce Websites. PVH Corp. was founded in 1881 and is based in New York, New York.

Publicly traded companies mentioned herein: PVH Corp. (PVH), Ralph Lauren Corporation (RL), H & M Hennes & Mauritz AB (HMB SS), Hugo Boss AG (BOSS GR), Macy’s Inc (M)

Highlights

The presenter is long shares of PVH and at ~$115 he thinks it’s one of the best risk/ reward profiles in the retail sector. Shares have been trading at just 15-16x the Street’s $7.40 2015 EPS estimate, but his model suggests the company’s earnings power could be far greater.

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Idea Discussion

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