Q4 2024 PVH Corp Earnings Call Transcript

Apr 01, 2025 / 01:00PM GMT

Release Date Price: $76.43 (+18.24%)

Transcript 10-K8-K

Key Points

Positve

PVH Corp (PVH) exceeded its initial fiscal 2024 guidance with stronger-than-expected revenue and higher-than-expected non-GAAP EPS.
The company achieved a record-high gross margin of 59.4% for the year, marking a 120 basis point increase.
PVH Corp (PVH) maintained double-digit EBIT margins at 10% despite fixed cost deleveraging in Europe.
The company reported significant growth in consumer engagement and product sell-through for both Calvin Klein and Tommy Hilfiger.
PVH Corp (PVH) successfully returned its European wholesale order books to growth, indicating strong execution of its PVH+ Plan.

Negative

PVH Corp (PVH) faces uncertainty around US consumer demand and macroeconomic pressures.
The company has been added to MOFCOM's unreliable entity list, creating potential challenges in China.
Calvin Klein experienced product development delays, leading to temporary margin headwinds.
The company anticipates a decline in revenue in China due to post-New Year holiday slowdown.
PVH Corp (PVH) expects a more promotional environment and increased freight costs to impact gross margins in the first quarter of 2025.

Operator

(Operator Instructions) Good morning everyone and welcome to today's PVH fourth-quarter and full-year 2024 earnings conference call. (Operator Instructions) Please note this call may be recorded and that I will be standing by should you need any assistance.

It is now my pleasure to turn the program over to Sheryl Freeman, Senior Vice President of Investor Relations. Please go ahead.

Sheryl Freeman

PVH Corp - Senior Vice President - Investor Relations

Thank you, operator. Good morning, everyone, and welcome to the PVH Corp fourth-quarter and full-year 2024 earnings conference call. Leading the call today will be Stefan Larson, Chief Executive Officer, and Zac Coughlin, Chief Financial Officer.

This webcasting conference call is being recorded on behalf of PVH and consists of copyrighted material. It may not be recorded, rebroadcast, or otherwise transmitted without PVH's written permission. Your participation constitutes your consent to having anything you say appear in any transcript or replay of this call.

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