Narrow-Moat PVH Is Expanding Tommy Hilfiger and Calvin Klein in New Markets
Narrow-moat PVH reported solid results for the fourth quarter of 2018 that sent shares sharply higher. PVH’s reported revenue and adjusted EPS of $2.48 billion and $1.84, respectively, for the fourth quarter beat our estimates of $2.41 billion and $1.74. Both Calvin Klein and Tommy Hilfiger beat sales expectations, while the heritage brands segment reported soft sales and an unexpected loss of $8 million. Tommy Hilfiger’s operating margin of 14.7% in the fourth quarter beat our forecast by 170 b...PVH is a branded apparel company. The company designs and markets branded dress shirts, neckwear, sportswear, jeanswear, performance apparel, intimate apparel, underwear, swimwear, swim products, handbags, accessories, footwear and other related products. The company also licenses the use of its trademarks to third parties and joint ventures. The company's businesses include: Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments; Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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