Home / Knowledge / News / Apparel/Garments / Apparel firm PVH increases fourth quarter guidance
Apparel firm PVH increases fourth quarter guidance
12
Jan '12
PVH Corp announced that, in conjunction with presentations to be given tonight and tomorrow by Company management at the ICR XChange Conference, it is updating its previous earnings per share guidance for the fiscal year ending January 29, 2012 and providing preliminary earnings per share guidance for the fiscal year ending February 3, 2013.

Non-GAAP earnings per share for the full year 2011 is now estimated to be in a range of $5.28 to $5.30, as compared to the previous non-GAAP guidance of $5.23 to $5.25. GAAP earnings per share for the full year 2011 is estimated to be in a range of $4.10 to $4.12, as compared to the previous GAAP guidance of $4.05 to $4.07.

Non-GAAP earnings per share for the fourth quarter of 2011 is now estimated to be in a range of $1.08 to $1.10, as compared to the previous non-GAAP guidance of $1.03 to $1.05. GAAP earnings per share for the fourth quarter of 2011 is estimated to be in a range of $0.85 to $0.87, as compared to the previous GAAP guidance of $0.80 to $0.82.

The Company's updated guidance reflects the continuation of strong performance in the Calvin Klein and Tommy Hilfiger businesses, which was partially offset by softness in the Heritage Brands sportswear businesses.

Fourth quarter of 2011 retail comparable store sales are expected to increase as compared to the prior year's fourth quarter by 15% in the Calvin Klein business, 12% in the Tommy Hilfiger North America business, 12% in the Tommy Hilfiger International business and 4% in the Heritage Brands business.

The full year effective income tax rate for 2011 is expected to be in a range of 28.5% to 29.0% on a non-GAAP basis and 29.5% to 30.0% on a GAAP basis, which represents an improvement of approximately $0.02 per share as compared to the Company's prior guidance of 29.0% to 29.5% on a non-GAAP basis and 30.0% to 30.5% on a GAAP basis.

Earnings per share for 2012 on a non-GAAP basis is preliminarily estimated to be in a range of $5.90 to $6.00. This estimate is negatively impacted by approximately $0.25 per share as compared to 2011 estimates due to projected differences in 2012 foreign currency translation (principally related to an expected weaker Euro to United States dollar exchange rate as compared to 2011).

Pension expense is expected to increase for the full year 2012 as compared to 2011 by approximately $0.15 per share, due in large part to a decrease in discount rates. Advertising spending for the full year 2012 is expected to approximate 2011 levels. Anticipated debt payments of approximately $300 million in 2012, combined with debt payments made during 2011, are expected to result in a decrease to net interest expense of approximately $0.10 per share as compared to 2011.

The effective income tax rate for the full year 2012 is expected to decrease to approximately 25.5%, which would generate an improvement on a non-GAAP basis of approximately $0.25 per share as compared to 2011. The lower tax rate in 2012 is due principally to growth in Tommy Hilfiger's international business, which is generally taxed at lower rates.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search