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Irish Daily Mirror
3 days ago
- Sport
- Irish Daily Mirror
Munster need a specific 2024/25 'first' if they are to beat Sharks
Munster have been living life on the cliff edge these past few weeks. The penultimate URC game with Ulster was the equivalent of a knockout game when it came to quarter-final qualification as was the last game against Benetton. Positive results, 38-20 and 30-21 respectively, hoisted the Reds to a sixth place finish, the single most important detail being it guaranteed Champions Cup next season. Sixth meant an away quarter-final and Munster duly found themselves in with Sharks, ostensibly the post-New Year form team in the URC and a third knockout game in succession. Munster have not won three games in a row at any point this season. "It was an awesome challenge, I guess when we started Ulster we knew we had to win those two games to ensure we made the play-offs," says star centre Alex Nankivell of Saturday evening's game. "That's probably the exciting part of rugby, when you are in those positions you have to play a big game. Those are the ones in which you want to be involved and fortunately we did enough to get the two wins which was great and make the play-offs from the team point of view. "For myself there is a bit of nerves at times being like sh*t you think about the one-off, but we've got a good team around us in terms of management and players give you confidence, focus on the process and nail the week. "It's a bit of a cliché but you nail the week and the game takes care of itself." Nankivell is pleased to be back talking about winning again as, returning from a hamstring injury, sustained in late December, on the last day of February there was a run of five defeats in the six games previously. "It's been tough personally," admits the New Zealander. "Probably one of my more interesting years for myself and my career so far. "I guess continuity and playing and then trying to be consistent on my performance like at the end of the first round I thought I had a good pre-season and then I tearing my hamstring "I'd been out for ten weeks and then that Six Nations block where you got a game and you get a week two weeks off, you are playing with different people, new combinations. "That has been really challenging but looking back on it now the amount that you learn has been huge and you take that forward. "These last two games I've been able to string together, they always give you confidence in terms of this week and just building those minutes and those combinations, relationships on the field, can't really beat that so good learning I'm happy where I'm at the moment. By contrast the Durban-based Sharks have won eight of the last URC 10 games, the shock 7-10 reverse against Leinster's 'seconds' five games back their last defeat. It was, coincidentally, their only defeat at home in the competition this season. "Transition is going to be huge for us so, our ability, our speed to connect those moments are massive but for us like I said they have a load of world class players, a lot of Springboks but a lot of opportunities. "If we work hard in our transition, when we are transitioning in attack and we feel we can put them under pressure around their speed to set and try and play around them. "Hopefully they will snowball during the game and things will present themselves later in the game. "So, working hard, getting into position quickly and being ambitious to take opportunities when they present themselves." The opportunity is there to make the semi-finals, it's all to play for. "The Sharks are traditionally a very strong team. That hasn't been touched on yet by the coach or anything. I'm not sure if it will be because it's a quarter-final and, in my opinion, if you start thinking about that too much . "It might be in the back of your mind and it might create a bit of pressure for the lads so we are purely just focused on our preparation and then winning the quarterfinal and getting another week in the semi-final so. "Honestly if we get our stuff right, I genuinely believe we can beat them." Beating Sharks on home soil will be a tough task and to see Ian Costello namecheck Nankivell as a key part of the Munster collective, as a 'great leader'. 'It was nice to hear firstly but, to be honest, I wouldn't have ever looked at myself like that. "It's something I'll dive a bit deeper into over the next the summer I'd say. Talk to a few people who have been in those positions before because it is hugely important for a team to be successful is to have good leaders. I'll try to find my own way of doing that. "I kinda feel like I'm part of the cog but I'll challenge people and keep people accountable. I have a different experience coming from a different place that plays a different style of rugby so I feel like can be helpful at times, just challenging ideas and getting people to think outside of the box. I guess I've never really thought about, well I've thought about leadership obviously and how I can influence people but probably not to that extent. It's probably something that I've got to think about as I'm ageing a wee bit now and a few of those big guys are leaving. "We need people that are going to step up and drive standards and be leaders and show the younger guys how to be a professional so it's definitely something since that conversation that I've been thinking about in the background."
Yahoo
02-04-2025
- Business
- Yahoo
PVH Corp (PVH) Q4 2024 Earnings Call Highlights: Record-High Margins Amid Revenue Challenges
Revenue: Down 2% on a constant currency basis for Q4; full-year revenue down 6% on a reported basis. Gross Margin: Record-high 59.4% for the full year; Q4 gross margin at 58.2%, down 210 basis points from last year. Net Income (EPS): Record-high non-GAAP EPS of $11.74 for the full year, up 10% from 2023. Operating Margin: 10% for the full year, maintaining double-digit EBIT margins. Cash Flow: Free cash flow of nearly $600 million for the year. Share Repurchases: $500 million returned to shareholders through repurchase of 4.7 million shares. Inventory: Up 6% year-over-year, focusing on best-selling core product categories. Regional Performance: North America EBIT up over 40%; Europe ended with two consecutive quarters of DTC store revenue growth; Asia-Pacific delivered revenue growth in constant currency. 2025 Outlook: Revenue projected to be flat to up slightly; operating margin flat to up slightly; EPS projected in the range of $12.40 to $12.75. Warning! GuruFocus has detected 9 Warning Signs with SPWH. Release Date: April 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. PVH Corp (NYSE:PVH) exceeded its initial fiscal 2024 guidance with stronger-than-expected revenue and higher-than-expected non-GAAP EPS. The company achieved a record-high gross margin of 59.4% for the year, marking a 120 basis point increase. PVH Corp (NYSE:PVH) maintained double-digit EBIT margins at 10% despite fixed cost deleveraging in Europe. The company reported significant growth in consumer engagement and product sell-through for both Calvin Klein and Tommy Hilfiger. PVH Corp (NYSE:PVH) successfully returned its European wholesale order books to growth, indicating strong execution of its PVH+ Plan. PVH Corp (NYSE:PVH) faces uncertainty around US consumer demand and macroeconomic pressures. The company has been added to MOFCOM's unreliable entity list, creating potential challenges in China. Calvin Klein experienced product development delays, leading to temporary margin headwinds. The company anticipates a decline in revenue in China due to post-New Year holiday slowdown. PVH Corp (NYSE:PVH) expects a more promotional environment and increased freight costs to impact gross margins in the first quarter of 2025. Q: Stefan, can you talk about what you've learned from the quality of sales initiative in Europe and how the PVH+ Plan's elevated level of execution is impacting the business? A: Absolutely. Europe is a great story of progress. We took three focused quality of sales actions: stopped third-party sales on digital platforms, reduced the number of platforms we sold to, and improved inventory in relation to sales. We leaned into the PVH+ execution, strengthening product relevance and consumer engagement. This resulted in high-quality growth and stronger gross margins in D2C, with forward-looking wholesale order books strengthening season by season. Q: Zac, as you look at the margin drivers for 2026, how should we think about the multi-year margin profile? Are there any new headwinds or tailwinds to consider? A: The actions planned throughout the year are within our control, such as confirmed European order books and cost actions underway. We expect fourth-quarter operating margin to be much higher than 2024, setting a new starting point for 2026. The building blocks laid out will raise the water level, allowing us to move forward into 2026 with improved profitability. Q: How do you plan to connect product and engagement across different global regions, and what does marketing spend look like to drive this engagement? A: We focus on a systematic approach to bring product strength and consumer engagement together. For example, Calvin Klein's underwear campaign with Bad Bunny connects product innovation with talent amplification, resulting in increased traffic and sales. Marketing spend continues to be a top priority to support these initiatives. Q: Can you elaborate on your relationship with wholesale partners in North America and your outlook for growth with the business brought back from G-III? A: We have strong partnerships with our wholesale partners, focusing on driving product strength and relevance. For instance, Calvin Klein's launch at Macy's Herald Square with marketing support from Lilly Collins has resonated well. We aim for consistency in driving product and brand relevance to the North American wholesale consumer. Q: Could you elaborate on the recent change in North America and how you're planning inventory across DTC at both Calvin and Tommy over the year? A: We saw a step back from the consumer in February, with March showing slight improvement. Our inventory levels are more fresh and less aged than last year, with better investments in core essentials and hero products. We feel good about our inventory composition as we become more data- and demand-driven. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
