PVH (PVH) AI Stock Analysis

Company Guidance

PVH reaffirmed full year reported revenue of approximately flat and a slight decline on a constant currency basis, operating margin of 8.8%, EPS in the range of $11.80 to $12.10, gross margin and SG&A as a percent of revenue each increasing approximately 100 basis points, marketing spend increasing at least 50 basis points to approximately 6% of sales, net interest expense of approximately $70 million, a tax rate of 22% to 23%, capital spending of approximately $250 million or approximately 3% of sales, and share repurchases of at least $300 million; regionally, it expects growth in both The Americas and APAC, pressure in EMEA, and e-commerce growth in all regions. For Q3, it projects revenue down low-single-digits in both reported and constant currency, The Americas up mid-single-digits with DTC up slightly, Asia Pacific relatively flat in constant currency, EMEA down mid-single in constant currency, licensing revenue down mid-single-digits, gross margin up approximately 100 basis points, SG&A expense as a percent of revenue up over 200 basis points, operating margin of approximately 7.5%, and EPS in a range of $2.50 to $2.65, with a tax rate of approximately 22% and interest expense of approximately $18 million.