Latest news with #PVHCorp
Yahoo
a day ago
- Business
- Yahoo
Here's FPA Queens Road Small Cap Value Fund's Views on PVH (PVH)
Investment management company First Pacific Advisors recently released its 'FPA Queens Road Small Cap Value Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund returned 8.60% compared to a 4.97% return for the Russell 2000 Value Index. Moreover, the Fund returned 5.87% YTD, compared to -3.16% for the index. Additionally, you can check the fund's top 5 holdings to determine its best picks for 2025. In its second-quarter 2025 investor letter, FPA Queens Road Small Cap Value Fund highlighted stocks such as PVH Corp. (NYSE:PVH). PVH Corp. (NYSE:PVH) is an apparel company. The one-month return of PVH Corp. (NYSE:PVH) was -0.13%, and its shares lost 24.08% of their value over the last 52 weeks. On August 18, 2025, PVH Corp. (NYSE:PVH) stock closed at $76.24 per share with a market capitalization of $3.665 billion. FPA Queens Road Small Cap Value Fund stated the following regarding PVH Corp. (NYSE:PVH) in its second quarter 2025 investor letter: "PVH Corp. (NYSE:PVH) is an apparel company that owns the Tommy Hilfiger and Calvin Klein brands globally. Most of PVH's earnings come from Europe, where the Tommy and Calvin brands are considered 'almost luxury' and where PVH has demonstrated high single-digit organic growth with pricing power over the preceding decade. CEO Stefan Larsson has done an excellent job revitalizing the company and improving margins at PVH's moribund U.S. operations. In the company's most recent fiscal year (ending January 31, 2025), comparable revenue was down 2% as the company bumped into a weaker global consumer and actively cleaned up its channel inventory in Europe. Investors are skittish about tariffs and, in 2024, PVH was added to China's 'Unreliable Entity' list threatening the roughly 15% of the company's profitability that comes from China. PVH's sales and sourcing are globally diversified, and the company uses its prodigious cash flow to buy back shares. We think shares are cheap at roughly 6x trailing earnings." A customer trying on a sports jacket in-store, showcasing the company's sportswear range. PVH Corp. (NYSE:PVH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held PVH Corp. (NYSE:PVH) at the end of the first quarter, which was 28 in the previous quarter. While we acknowledge the potential of PVH Corp. (NYSE:PVH) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered PVH Corp. (NYSE:PVH) and shared the list of stocks expected to beat the market by 20 percentage points this year. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
01-08-2025
- Business
- Yahoo
The G-III vs. PVH Legal Battle Reveals Nasty Tensions
When G-III Apparel Group sued PVH Corp. last month — charging that it was improperly denied the right to renew its suits license for Tommy Hilfiger and Calvin Klein — it started to pull back the curtain on a dispute that for years has been roiling just below the surface in fashion. Now a countersuit filed by PVH divisions Calvin Klein Inc. and Tommy Hilfiger Licensing in New York State Court has brought much more of the strife out to light with claims that G-III 'refused to align' with PVH's new strategic plan and 'has seemingly gone out of its way to undermine the parties' day-to-day business relationship, with its executives hurling profanity, insults and threats.' More from WWD G-III Brings War of Words to PVH in Licensing Lawsuit 'Clueless' Costume Designer Mona May Reflects on 30 Years of the Movie's Fashion and That Yellow Plaid: 'We All Had Goosebumps in the Fitting Room' PVH CEO Stefan Larsson Buys $1M in Stock, Signaling Confidence in Fashion Company's Strategy A G-III spokesperson said of the countersuit: 'These are baseless claims designed to distract from PVH's own self-inflicted troubles and unlawful actions, and we will continue to vigorously defend our business and contractual rights.' Just where it all leads remains to be seen. But unless the two decide to settle and try to put all the dirty laundry away, a New York State judge is going to get a chance to rule on the hard-knuckled back-and-forth that clearly still exists on Seventh Avenue. The PVH/G-III split started not with the air of a personal beef, but that of a begrudging corporate separation. Now it's getting nasty and the emotions are raw. According to the countersuit: 'A senior executive at G-III even went so far as to make an explicit death threat to a senior PVH executive. In early March 2025, that G-III senior executive told a PVH senior executive that '[y]ou're lucky you don't have a bullet in your head.' This was immediately escalated to the highest levels at G-III.' That's a big change for G-III and PVH, which traditionally were allies that worked well together and successfully navigated a market that took down bigger rivals like Liz Claiborne Inc. and Jones Apparel Group. Morris Goldfarb, G-III's veteran chief executive officer, forged a relationship with PVH's former CEO Manny Chirico over more than two decades, building a business that ultimately produced a combined $16 billion in North American wholesale sales for the two brands. But when Stefan Larsson took the reins as CEO at PVH in 2021, he moved to change strategies leading PVH to declare it was going to take back its licenses. It was no small move as Tommy Hilfiger and Calvin Klein accounted for over half of G-III's business at the time. As PVH focused on building a more unified operating structure for the brands, G-III sought to make up the sales it was losing by signing new licenses, building up its Donna Karan and Karl Lagerfeld businesses and more. That public peace was broken when G-III sued for breach of contract, arguing it had the right to extend the women's suits licenses for another three years. PVH responded late Tuesday, filing a motion to dismiss the case, arguing that G-III is looking to 'impose new obligations' that the licenses don't provide. The company — technically two of its divisions — gave PVH's side of the story in its own breach of contract suit filed against G-III, charging that its longtime partner 'refused to align its strategy' for the Tommy Hilfiger and Calvin Klein licenses to the then-new PVH+ corporate strategy. 'For example, G-III insisted at the time that developing a strong digital business, as contemplated under the PVH+ plan, was not a viable business model in the United States market. G-III also was unwilling to work with the brand owners to evolve the product designs that it developed, many of which were not consistent with the respective aesthetics and brand images,' the suit claimed. 'In late 2022, following much conversation and deliberation and taking into account G-III's unwillingness to work more collaboratively with the brand owners and ensure greater alignment with the brand aesthetics and target consumers for Calvin Klein and Tommy Hilfiger, the brand owners informed G-III that they would need to start taking back the licenses,' it added. The suit claimed G-III then launched a 'systematic campaign to undermine the Calvin Klein and Tommy Hilfiger brands' that included: Lobbying wholesale accounts to not purchase the PVH brands. Consolidating showroom spaces and reducing the Calvin Klein assortment. Causing the brands to be moved to 'smaller, less desirable locations' within stores. Siphoning resources away from the licensed businesses and prioritizing its other brands. Using looks designed for Calvin Klein and Tommy Hilfiger for other brands, including DKNY and Nautica, which G-III produces. And liquidating Calvin Klein and Tommy Hilfiger products in 'unauthorized markets.' 'G-III's deliberate effort to favor sales of competing products under its own brands over its sales of its Calvin Klein and Tommy Hilfiger products has negatively impacted the performance of the licensed businesses,' the suit alleged. 'While the brand owners' sales of Calvin Klein and Tommy Hilfiger products have seen important gains as a result of the PVH+ plan, G-III's sales of the licensed products in the United States and Canada are declining.' The suit contended the PVH side tried to 'work collaboratively' as the licensing deals wound down and 'repeatedly asked G-III to provide a plan for how it would improve the declining performance of its licensed businesses.' 'Instead of acting like a responsible business and complying with its contractual obligations, not to mention ceasing its and its executives' abusive conduct, G-III chose to double down on casting itself as the victim by filing a baseless and meritless lawsuit, incredibly accusing the brand owners and PVH of acting unreasonably by refusing to extend further the women's 'better' suits licenses…as was the brand owners' agreed right,' the suit alleged. It's a breakup that might always have been headed for court. The countersuit said G-III began 'threatening to sue PVH, regardless of the merits of such a suit, and one of G-III's senior executives went so far as to say that G-III 'didn't have to be right to sue.' What G-III refuses to accept is that it is the brand owners — not G-III — who own Calvin Klein and Tommy Hilfiger.' This is all a long way from the close relationship G-III and PVH long enjoyed — a relationship that might have gotten even closer if G-III had had just a little more branded power earlier. Goldfarb told WWD last year: 'We were negotiating with PVH at one point to possibly combine both companies and their prior CEO, Manny Chirico, cited the fact that we don't have a chit — the value of a brand as great as the value of the entity that we operated. Without the brand, we didn't really have much. I went back home and said, 'You know, maybe he's right.'' Now Goldfarb and G-III have taken a decidedly branded turn with DKNY, Donna Karan, Karl Lagerfeld and others. But as the company moves into that future on its own, it's dealing with a fallout with its soon-to-be ex. 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Associated Press
08-07-2025
- Business
- Associated Press
Cascale Announces 2025 Board of Directors Election Results
AMSTERDAM, HONG KONG, OAKLAND, Calif., July 8, 2025 /3BL/ - Cascale, the global nonprofit alliance of more than 300 members across the consumer goods industry, has elected a new board director and re-elected two incumbent board directors to serve on its Board of Directors. These elections to the organization's parity-based Board ensure equitable representation across manufacturers, affiliates, and brands & retailers to guide Cascale's aim of powering collective action for a more sustainable, restorative consumer goods industry. Cascale is pleased to welcome the following new board director: Mallory McConnell, VP, Corporate Responsibility Operations, PVH CorpMcConnell is a seasoned sustainability executive at PVH Corp, where she leads global programs in ethical sourcing, social compliance, and environmental impact, integrating human rights and environmental stewardship across the apparel supply chain. With over a decade of experience, she has designed and implemented ESG strategies that boost operational efficiency and drive long-term business value. A strategic, solutions-driven leader, McConnell excels at building cross-sector partnerships, enhancing transparency, and delivering measurable impact. She will join Cascale's Board as the representative for the Brand & Retailer member caucus. Cascale also congratulates the following individuals on their re-election to the board: Tamar Hoek, Senior Policy Director, Sustainable Fashion, Solidaridad and Cascale Board ChairHoek serves as senior policy director, sustainable fashion for Solidaridad, where she leads global advocacy on climate action, decent work, and responsible purchasing in fashion supply chains. She collaborates with public and private stakeholders to advance sustainable practices and effective regulation. Hoek has served on Cascale's Board representing affiliate members since 2021, and contributes to multi-stakeholder initiatives including Better Cotton and the Policy Hub. At Solidaridad, she aligns industry actors to drive measurable improvements and impact in fashion production worldwide. Hoek will continue to represent Cascale's Affiliate member caucus. Krishna Manda, Vice President, Corporate Sustainability, Lenzing Group and Cascale Board Vice ChairManda is Vice President of Corporate Sustainability at Lenzing Group, where he embeds responsible practices into core business functions and fosters culture change anchored in sustainability values. He leads executive-level strategy for TENCEL™, ECOVERO™, and REFIBRA™ fibers—advancing circular-economy solutions in fashion, home textiles, and hygiene products. Since 2022, Manda has served on Cascale's Board representing the Manufacturer member caucus. He previously co-chaired the Policy Hub from 2020–2022 and holds a Ph.D. in Sustainability from Utrecht University. He will continue to represent the Manufacturer member caucus. 'The 2025 class brings both continuity and fresh insights,' said Harsh Saini, Cascale Board Director, Governance & Nomination Committee Chair, and interim CEO (as of August 1). 'Tamar and Krishna's ongoing service, together with Mallory's operational expertise, will strengthen our Board's ability to steer Cascale's strategic plan and drive transformative industry change.' 'Strong governance is the backbone of Cascale's impact,' said Colin Browne, Cascale CEO. 'With this mix of experienced directors and new talent at the helm, I'm confident we'll accelerate our mission—leveraging data, driving collective action, and continuing to build an industry that gives more than it takes.' The newly-elected directors will be officially seated at the Q3 Board meeting in Hong Kong on September 15, 2025, which will be held in conjunction with the 2025 Cascale Annual Meeting. Cascale also extends its heartfelt thanks to Sean Cady, vice president, global sustainability, responsibility, trade and government affairs at VF Corporation, whose dedicated service on the Cascale Board concludes this September 2025. Sean's steadfast leadership has laid a strong foundation for the organization's continued progress. The Board is grateful for his many contributions and looks forward to building on the momentum he helped create. For more information about Cascale's governance and to view the current Board of Directors, please visit our governance webpage. ABOUT CASCALE Cascale is the global nonprofit alliance empowering collaboration to drive equitable and restorative business practices in the consumer goods industry. Formerly known as the Sustainable Apparel Coalition, Cascale owns and develops the Higg Index, which is exclusively available on Worldly, the most comprehensive sustainability data and insights platform. Cascale unites over 300 retailers, brands, manufacturers, governments, academics, and NGO/nonprofit affiliates around the globe through one singular vision: To catalyze impact at scale and give back more than we take to the planet and its people. LinkedIn | X | Instagram | Facebook | YouTube Visit 3BL Media to see more multimedia and stories from Cascale
Yahoo
01-07-2025
- Business
- Yahoo
PVH CEO Stefan Larsson Buys $1M in Stock, Signaling Confidence in Fashion Company's Strategy
Stefan Larsson — who's been reengineering PVH Corp. to build up Tommy Hilfiger and Calvin Klein — is feeling bullish. And it seems to be a little contagious. More from WWD 'F1' Star Damson Idris Is Ready for Takeoff Lauren Sánchez's and Jeff Bezos' Wedding Is Prime for Fashion Fashion 4 Development Touts Diplomacy and Culture at The Pierre Hotel The chief executive officer bought 15,645 shares of PVH at a price of $63.92 last week, according to a filing with the Securities and Exchange Commission on Monday. That's a $1 million investment by Larsson — and a signal to Wall Street, which likes it when CEOs eat their own cooking. Tom Nikic, an analyst at Needham & Co. who recently started following PVH, called the stock purchase an 'encouraging show of confidence by management, demonstrating their confidence in the current state of the business, and most likely representing confidence in guidance for Q2 and the fiscal year.' Nikic said the stock purchase also highlights 'how inexpensively the shares are currently being valued.' The analyst pointed out that PVH has an enterprise value of about five times its earnings before interest, taxes, depreciation and amortization estimate for this year — down from the seven times it's typically traded at and below the average of eight times seen by the company's peers. 'While the macro environment is undoubtedly challenging, we think the shares have been overly punished, particularly with accretion from cost efficiencies and the G-III licenses hitting the [profit and loss statement over] the next three years,' Nikic said. 'Thus, we view PVH as a compelling story, particularly for value-focused investors.' There are a lot of moving parts at PVH, which is taking back its North American wholesale licenses from G-III Apparel Group, working out the kinks in Calvin Klein's new global product kitchen, sharpening its inventory approach, and working to sync up product innovation with big-time marketing. When it hits, it hits. Last month, Larsson said Calvin Klein's new Icon Cotton Stretch underwear, backed up by a high-profile campaign blitz featuring Bad Bunny, drove a 25 percent increase in revenues. Larsson is still in the process of building a machine that can drive that kind of growth in a systematic, repeatable way. 'This purchase is a reflection of Mr. Larsson's belief in PVH and in the company's ability to continue to deliver long-term value as we make important progress on our multiyear growth strategy, the PVH+ plan,' a spokesperson said. Investors were feeling the vibes. Shares of PVH rose 4.4 percent on Monday and picked up another 5.2 percent to $72.19 in midday trading on Tuesday. That left the company with a market capitalization of $3.5 million — down from about $5.9 billion a year ago, but moving in the right direction. All together, Larsson beneficially owns more than 269,000 shares of PVH, valued at more than $19 million. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion United
19-06-2025
- Business
- Fashion United
New premium collection: ‘Tommy Hilfiger New York' premieres in Florence
US clothing retailer Tommy Hilfiger expanded its range. On Tuesday, June 17, 2025, the brand, which belongs to the textile group PVH Corporation (PVH Corp), presented its new premium collection, 'Tommy Hilfiger New York', at the Pitti Uomo menswear trade show in Florence. A total of 19 looks were shown during a presentation at the historic Palazzo Portinari Salviati. According to the company, the new designs combined the brand's preppy tradition and classic New York tailoring codes with a modern perspective. Tommy Hilfiger returns to his roots Brand founder and designer Tommy Hilfiger explained the background of the collection. "The art of dressing elegantly is back," he emphasised in a statement. "All the inspiring icons of today's culture are opting for an upscale look, and this has given renewed energy to the traditions of tailoring and the timelessness of Savile Row." The 74-year-old also harked back to the beginnings of his career: "When I founded my brand 40 years ago, I wanted to give these traditional codes a playful American touch," Hilfiger explained. "That's exactly what we're doing again today, opening a new chapter in the history of our menswear." Collection arrives in stores in February 2026 The new collection was set to arrive in stores at the beginning of next year. From February 2026, it would be available worldwide in selected Tommy Hilfiger stores, in the brand's online shop and at key retail partners, the company stated. Impression of the Tommy Hilfiger presentation in Florence Credits: Tommy Hilfiger This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
