Fly News Breaks for August 11, 2017
Aug 11, 2017 | 08:24 EDT
Cowen analyst John Kernan raised his price target on PVH to $140 from $120 following positive Q2 results. The analyst sees the potential for the company to raise guidance given a positive order book, while consensus assumes a slowdown in 2018 sales. Kernan reiterated his Outperform rating on PVH Corp. shares.
News For PVH From the Last 2 Days
Aug 23, 2017 | 17:29 EDT
UP AFTER EARNINGS: Guess (GES), up 12.2%... Williams-Sonoma (WSM), up 7%... Tilly's (TLYS), up 6.8%... PVH Corp. (PVH), up 3.5%. ALSO HIGHER: YuMe (YUME), up 4.9% after it confirmed that it is in talks regarding a potential transaction with RhythmOne. DOWN AFTER EARNINGS: HP Inc. (HPQ), down 1.1%... Heico (HEI), down 1%. ALSO LOWER: Global Blood Therapeutics (GBT), down 3% after it filed a $125M mixed securities shelf.
Aug 23, 2017 | 16:18 EDT
Calvin Klein International revenue increased 20% to $394 million compared to the prior year period. Outstanding performance in the wholesale business in Europe and China, as well as solid growth in the retail business due to a 6% increase in international comparable store sales and square footage expansion in Company-operated stores, drove the revenue increase. Calvin Klein North America revenue decreased 1% to $392 million compared to the prior year period primarily as a result of the Mexico deconsolidation and a 2% decline in North America comparable store sales. Revenue in the Tommy Hilfiger business for the quarter increased 4% to $892 million compared to the prior year period. Revenue in the Heritage Brands business for the quarter increased 13% to $392 million compared to the prior year period, principally due to a shift in the timing of shipments from both the first and third quarters into the second quarter as compared to the prior year. Comparable store sales increased 1%.
Aug 23, 2017 | 16:16 EDT
Sees Q3 revenue growth roughly 4%, consensus $2.31B. Revenue for the Calvin Klein business in the third quarter is projected to increase approximately 5%, which includes the negative impact of the Mexico deconsolidation. Revenue for the Tommy Hilfiger business in the third quarter is projected to increase approximately 8%, which includes the negative impact of the G-III license. Revenue for the Heritage Brands business in the third quarter is projected to decrease approximately 8%, due principally to a planned shift in the timing of wholesale shipments into the second quarter from the third quarter as compared to the prior year period.
Aug 23, 2017 | 13:58 EDT
Notable companies reporting after the market close, with earnings consensus, include HP Inc. (HPQ), consensus 42c... PVH Corp. (PVH), consensus $1.64... HEICO (HEI), consensus 53c... Williams-Sonoma (WSM), consensus 59c... Guess (GES), consensus 10c.