Steve Scruggs Comments on PVH

Guru stock highlight

Nov 02, 2022

Summary

A top detractor.

PVH Corp (PVH, Financial) owns the Tommy Hilfiger and Calvin Klein brands globally. Two-thirds of the profitabilitycomes from the international segment (where Tommy in particular has a premium positioning), strong same store sales growth and demonstrated pricing power.¹¹ PVH shares are down with other fashion and apparel names as investors worry about consumer health, and its international earnings have been hit by the strong US dollar.

From Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund third-quarter 2022 letter.

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