PVH Corporation (NYSE: PVH) is likely to post a year-over-year decline in its top line when it reports second-quarter fiscal 2024 results on Aug 27, after market close. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.1 billion, indicating a drop of 6.3% from the prior-year reported number.
The consensus estimate for earnings is pegged at $2.27 per share, which indicates an increase of 14.7% year over year. The consensus mark has remained stable in the past 30 days.
In the last reported quarter, the company delivered an earnings surprise of 6%. It has a trailing four-quarter earnings surprise of 9.2%, on average.
Factors to Note
PVH Corp's quarterly performance is likely to have been buoyed by strength in its core brands and other strategic efforts. Management has been on track with the PVH+ Plan, which is likely to have resulted in substantial cost efficiencies and better productivity. It has been focused on driving digital growth by developing a holistic distribution strategy for Calvin Klein and Tommy Hilfiger, driven by direct-to-consumer (DTC) channels and wholesale partnerships.
In addition, the company has been making consistent efforts to boost its international presence. Gains from these efforts are likely to have boosted the quarterly performance.
However, PVH Corp has been witnessing increased investments in the DTC and international businesses. ...
