Report
Bridget Weishaar
EUR 101.80 For Business Accounts Only

Narrow-moat PVH's Calvin Klein and Tommy Hilfiger brands continue to achieve success abroad.

In line with our thesis that strong global brands are better positioned to adapt to the structural shift in U.S. retailing, narrow-moat PVH posted 7% revenue growth in the second quarter. We continue to believe that brands can invest successfully in international and e-commerce growth opportunities while being defensive in U.S. exposure will outperform competitors. This was certainly the case at PVH, with the company posting 9% sales growth for Tommy Hilfiger and a 20% increase for Calvin Klein ...
Underlying
PVH Corp.

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Bridget Weishaar

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