This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PVH Corp. Reports 2012 Third Quarter Results

This press release includes, and the conference call/webcast will include, certain non-GAAP financial measures, as defined under SEC rules. A reconciliation of these measures is included in the financial information later in this release, as well as in the Company’s Current Report on Form 8-K furnished to the SEC in connection with this earnings release, which is available on the Company’s website at www.pvh.com and on the SEC’s website at www.sec.gov.

The Company does not undertake any obligation to update publicly any forward-looking statement, including, without limitation, any estimate regarding revenue or earnings, whether as a result of the receipt of new information, future events or otherwise.

               

PVH CORP.

Consolidated GAAP Income Statements

(In thousands, except per share data)

 
 
Quarter Ended Nine Months Ended
10/28/12 10/30/11 10/28/12 10/30/11
 
Net sales $ 1,501,442 $ 1,517,494 $ 4,033,911 $ 4,002,210
Royalty revenue 103,944 102,541 271,917 261,552
Advertising and other revenue 37,384 34,125 100,971 94,026
Total revenue $ 1,642,770 $ 1,654,160 $ 4,406,799 $ 4,357,788
 
Gross profit on net sales $ 727,756 $ 692,302 $ 1,995,686 $ 1,926,101
Gross profit on royalty, advertising and other revenue 141,328 136,666 372,888 355,578
Total gross profit 869,084 828,968 2,368,574 2,281,679
 
Selling, general and administrative expenses 634,854 632,982 1,834,288 1,815,537
 
Debt modification costs 16,233
 
Equity in income of unconsolidated affiliates 3,193 856   5,043 856
 
Earnings before interest and taxes 237,423 196,842 539,329 450,765
 
Interest expense, net 28,284 31,542   85,883 96,058
 
Pre-tax income 209,139 165,300 453,446 354,707
 
Income tax expense 43,730 53,061   107,221 118,072
 
Net income $ 165,409 $ 112,239   $ 346,225 $ 236,635
 
Diluted net income per common share (1) $ 2.24   $ 1.54 $ 4.70 $ 3.25
 
Quarter Ended Nine Months Ended
10/28/12 10/30/11 10/28/12 10/30/11
 
Depreciation and amortization expense $ 34,752 $ 32,321 $ 102,544 $ 98,768
 

Please see following pages for information related to non-GAAP measures discussed in this release.

9 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,154.81 +113.27 0.63%
S&P 500 2,119.43 +15.23 0.72%
NASDAQ 5,080.8240 +48.0730 0.96%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs