Fashion conglomerate PVH (NYSE:PVH) will be announcing earnings results tomorrow after market close. Here’s what you need to know.
PVH met analysts’ revenue expectations last quarter, reporting revenues of $2.07 billion, down 6% year on year. It was a decent quarter for the company, with an impressive beat of analysts’ EPS estimates.
Is PVH a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting PVH’s revenue to decline 6% year on year to $2.22 billion, a reversal from the 3.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.59 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PVH has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.
Looking at PVH’s peers in the apparel and accessories segment, some have already reported their Q3 results, giving us a hint as to what we can expect. VF Corp’s revenues decreased 5.6% year on year, beating analysts’ expectations by 1.6%, and Hanesbrands reported a revenue decline of 2.5%, in line with consensus estimates. VF Corp traded up 27% following the results while Hanesbrands was also up 12.5%.
Read our full analysis of VF Corp’s results here and Hanesbrands’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 11.5% on average over the last month. PVH is up 11.1% during the same time and is heading into earnings with an average analyst price target of $124.56 (compared to the current share price of $111.51).
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