Shock And Awe. PVH Holdings Stock Surges On Earnings Blowout
Key PointsPVH reported an earnings blowout for Q4 2022, beating EPS estimates by $0.71 and raising full-year 2023 top and bottom line guidance, surging more than 20% higher shares.PVH experienced a (240 bps) drop in YoY gross margins on a 34% rise in inventory levels. Still, the company expects operating margins to grow back to 10% and inventory to normalize, as evidenced by its full-year 2023 EPS raise to $10.00 vs. $8.91 consensus estimates.Europe saw 11% YoY growth, offset by an (8%) drop in Asia Pacific sales.China’s easing of zero-COVID restrictions started to show sales improvement near ...