Home / Knowledge / News / Apparel/Garments / Q4 EPS surges 23% at apparel marketer PVH Corp
Q4 EPS surges 23% at apparel marketer PVH Corp
28
Mar '15
Earnings per share on a non-GAAP basis surged 23 per cent at apparel marketer PVH Corp which has brands like Calvin Klein and Tommy Hilfiger in its portfolio for the fourth quarter ended December 31, 2014.

PVH said its fourth quarter earnings per share on a non-GAAP basis rose 23 per cent to $1.76, including a $0.10 negative impact related to foreign currency exchange rates.

“Earnings per share on a non-GAAP basis were $1.43 in the prior year’s fourth quarter,” the US based apparel marketer said in a press release.

PVH was able to book a turnaround in GAAP earnings per share at $0.62 compared to prior year’s fourth quarter loss per share of $0.46.

However, revenue increased slower at 5 per cent on a constant currency basis over the previous year’s fourth quarter revenue of $2.05 billion.

Revenue changes by business from the prior year period included a 6 per cent year over year hike at Calvin Klein on a constant currency basis and 2 per cent increase on a GAAP basis.

The Tommy Hilfiger business on a constant currency basis grew faster at 9 per cent from a year ago quarter, while on a GAAP basis it ascended by just 2 per cent.

In the fourth quarter of 2014, the Heritage brands business however posted a decline of 3 per cent over the fourth quarter of 2013.

Earnings before interest and taxes on a non-GAAP basis increased 4 per cent on a constant currency basis, but fell 2 per cent when including foreign currency exchange rate impacts.

PVH attributed the same to continued strong performance in Tommy Hilfiger and an earnings increase in Calvin Klein, partially offset by poor performance within the Heritage Brands dress shirt business.

Earnings before interest and taxes on a GAAP basis were $6 million as compared to $160 million in the prior year’s fourth quarter.

The decrease was primarily due to a retirement plan actuarial loss of $139 million incurred in the fourth quarter of 2014 as compared to an actuarial gain of $53 million in the fourth quarter of 2013.

Net interest expense decreased to $32 million from $45 million in the prior year’s fourth quarter due to lower average debt balances and interest rates.

In 2015, PVH expects its full year earnings per share results to be negatively impacted versus 2014 by approximately $1.20 per share from foreign currency exchange rates.

It also said that volatility in the global macroeconomic environment, particularly with respect to its businesses in Russia, would impact earnings.

The Company expects a negative impact of approximately $0.10 per share from its Russia businesses due to political and economic instability in the region. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

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

Bani Batra

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search