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PVH

PVH Corp.

$98.85

-3.75 (-3.66%)

16:30
01/10/19
01/10
16:30
01/10/19
16:30

Calvin Klein outlines strategic changes, including digital first approach

Steve Shiffman, chief executive officer of Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp., unveiled a series of strategic changes to the company in response to the rapidly evolving fashion and retail landscape. The brand's strategy includes three key initiatives: The brand is relaunching the CALVIN KLEIN 205W39NYC business under a new name, design approach and creative direction. The new business will focus on connecting directly to all of the other CALVIN KLEIN brands and amplifying each category with unique products and aspirational experiences. The relaunched business will be designed to evolve the traditional luxury fashion model by connecting with a diverse range of communities, offering an unexpected mix of influences and moving at an accelerated pace. As a result of Calvin Klein, Inc.'s ongoing assessment of its omnichannel strategy, the 654 Madison Avenue store will be closing in spring 2019. The company is evaluating options for future retail locations, and will also be unveiling new consumer experiences both online and offline. The Calvin Klein, Inc. leadership team has adopted a digital-first approach and introduced a newly formed "Consumer Marketing Organization." The CMO is evolving to accommodate the rapidly changing demands of today's consumers, with highly specialized teams focused on new areas including Consumer Engagement and Shopper Experience. The business will be streamlining its North America division to become a more effective organization, including consolidation of operations for the men's Calvin Klein Sportswear and Calvin Klein Jeans business as a means of further strengthening the brand's positioning. The Calvin Klein retail and ecommerce teams will be integrated to create an omnichannel approach mirroring how consumers browse, shop and purchase today. "These strategic initiatives will enable us to run a more modern, dynamic and effective business, as well as allow us to reinvest in the brand," said Shiffman.

PVH PVH Corp.
$98.85

-3.75 (-3.66%)

12/31/18
PIPR
12/31/18
NO CHANGE
Target $30
PIPR
Overweight
Piper favors Nike, Under Armour, Ulta, Crocs and Funko as 2019 brand ideas
Piper Jaffray analyst Erinn Murphy lowered her price targets across the Global Lifestyle Brands group to reflect the recent market volatility. The analyst, however, feels good about the Holiday while remaining "wary on multi-brand retailers on a longer-term basis." Murphy favors Nike (NKE), Under Armour (UAA), Ulta Beauty (ULTA), Crocs (CROX) and Funko (FNKO) as 2019 ideas. She sees Under Armour as one of the better names to own into 2019 with "what still appears to be a healthy amount of skepticism around the stock." Management's 2019 targets will ultimately prove conservative and upside should continue throughout the year, Murphy tells investors in a research note. The analyst keeps an Overweight rating on Under Armour but lowered her price target for the shares to $30 from $32. She cut targets on 15 names in the Global Lifestyle Brands space, including Underweight-rated e.l.f. Beauty (ELF) to $8 from $10, Overweight-rated G-III Apparel (GIII) to $40 from $50, Overweight-rated PVH Corp. (PVH) to $140 from $150, Overweight-rated Ulta Beauty to $295 from $320 and Overweight-rated VF Corp. (VFC) to $91 from $104.
01/02/19
WELS
01/02/19
NO CHANGE
Target $125
WELS
Outperform
PVH Corp. price target lowered to $125 from $140 at Wells Fargo
Wells Fargo analyst Ike Boruchow lowered his price target for PVH Corp. to $125 from $140, while reiterating an Outperform rating on the shares. In a research note titled "2019 Retail Outlook report," the analyst says he believes Holiday reads likely slowed post Black Friday, Multinational brands struggled relative to retailers the past several months as concerns around Europe weakness, China uncertainty, a slowdown in tourism and FX pressures are growing, e-commerce meaningfully underperformed Brick and Mortar retail in 2018 as inflated multiples have been hit hard in the face of a painful tech ''unwind'' and choppier fundamentals, 2019 is likely to be worse than 2018 for the space, and Leases are coming onto retailers' balance sheets in 2019, making for worse capital structure optics.
01/07/19
UBSW
01/07/19
UPGRADE
Target $145
UBSW
Buy
PVH Corp. upgraded to Buy from Neutral at UBS
UBS analyst Jay Sole upgraded PVH to Buy from Neutral citing the underlying strength in its Calvin Klein brand. He believes the company has fixed its missteps and is not being credited for it while estimating wholesale order growth will accelerate quarter-over-quarter. Sole said he sees a solid opportunity to buy the stock at an attractive valuation. Sole lowered his price target to $145 from $170 on PVH Corp. shares.
01/09/19
RBCM
01/09/19
INITIATION
Target $122
RBCM
Outperform
PVH Corp initiated with an Outperform at RBC Capital
RBC Capital analyst Brian Tunick initiated PVH (PVH) with an Outperform rating and a price target of $122, citing the company's "strong brands" and Calvin Klein margin recovery. The analyst further notes that since valuation on PVH stock has come in by 4- to 6-times over the past few months, risk reward on the stock has turned more favorable at current levels. Tunick expects the company's best-in-class initiatives to adapt to "new retail" thanks to its Amazon (AMZN) partnerships, social media presence and celebrity collaborations, winning market share and building increased "relevance" with younger consumers.

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AMZN

Amazon.com

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NTDOY

Nintendo

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T

AT&T

$30.95

0.32 (1.04%)

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Comcast

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VIA

Viacom

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SPX

S&P 500

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, SPY

SPDR S&P 500 ETF Trust

$266.44

3.45 (1.31%)

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GM

General Motors

$38.63

0.35 (0.91%)

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S&P 500

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SPDR S&P 500 ETF Trust

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TSLA

Tesla

$302.26

-45.18 (-13.00%)

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SFTBY

SoftBank; also use SFTBF

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(0.00%)

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FUJHY

Subaru

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, MZDAY

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S&P 500

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SPDR S&P 500 ETF Trust

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FB

Facebook

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

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CLSD

Clearside Biomedical

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0.02 (1.75%)

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TCEHY

Tencent

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BAESY

BAE Systems

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

, COST

Costco

$213.59

2.15 (1.02%)

12:50
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AMZN

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COST

Costco

$213.59

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VNO

Vornado

$66.40

1.04 (1.59%)

, KRC

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GOLD

Barrick Gold

$11.78

-0.11 (-0.93%)

, GG

Goldcorp

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Barrick Gold

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GG

Goldcorp

$10.37

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NEM

Newmont Mining

$31.77

0.15 (0.47%)

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TECH

Bio-Techne

$163.24

1.16 (0.72%)

, A

Agilent

$71.93

1.16 (1.64%)

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DHR

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TMO

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ILMN

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