PVH Corp. Reaffirms First Quarter and Full Year 2012 Earnings Per
Share Guidance
NEW YORK, Apr 23, 2012 (BUSINESS WIRE) --PVH Corp. [NYSE: PVH] announced today that at its scheduled appearance
at the Barclay's Capital Retail & Restaurants Conference tomorrow at
11:15 AM EDT, Company management will state that the Company currently
expects its non-GAAP earnings per share for the first quarter 2012 to be
at least at the high end of its guidance range previously announced on
March 27, 2012. In addition, the Company currently expects its non-GAAP
earnings per share for the full year 2012 to be towards the high end of
its guidance range previously announced on March 27, 2012.
Details on Accessing Live Webcast and Replay:
The live webcast of the Company's presentations at the conference, as
well as the audio replay, which will be available three hours after the
conference, may be accessed by logging onto http://www.pvh.com
and going to the Press Releases page under the Investors tab.
PVH Corp., one of the world's largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world's largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen, Calvin
Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co.,
and its licensed brands, including Geoffrey Beene, Kenneth Cole New
York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps,
Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar
and John Varvatos.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995:
Forward-looking statements made during management's appearance,
including, without limitation, statements relating to the Company's
future earnings, plans, strategies, objectives, expectations and
intentions, are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements are inherently subject to
risks and uncertainties, many of which cannot be predicted with
accuracy, and some of which might not be anticipated, including, without
limitation, the following: (i) the Company's plans, strategies,
objectives, expectations and intentions are subject to change at any
time at the discretion of the Company; (ii) in connection with the
acquisition of Tommy Hilfiger B.V. and certain affiliated companies, the
Company borrowed significant amounts, may be considered to be highly
leveraged, and will have to use a significant portion of its cash flows
to service such indebtedness, as a result of which the Company might not
have sufficient funds to operate its businesses in the manner it intends
or has operated in the past; (iii) the levels of sales of the Company's
apparel, footwear and related products, both to its wholesale customers
and in its retail stores, the levels of sales of the Company's licensees
at wholesale and retail, and the extent of discounts and promotional
pricing in which the Company and its licensees and other business
partners are required to engage, all of which can be affected by weather
conditions, changes in the economy, fuel prices, reductions in travel,
fashion trends, consolidations, repositionings and bankruptcies in the
retail industries, repositionings of brands by the Company's licensors
and other factors; (iv) the Company's plans and results of operations
will be affected by the Company's ability to manage its growth and
inventory; (v) the Company's operations and results could be affected by
quota restrictions and the imposition of safeguard controls (which,
among other things, could limit the Company's ability to produce
products in cost-effective countries that have the labor and technical
expertise needed), the availability and cost of raw materials, the
Company's ability to adjust timely to changes in trade regulations and
the migration and development of manufacturers (which can affect where
the Company's products can best be produced), changes in available
factory and shipping capacity, wage and shipping cost escalation, and
civil conflict, war or terrorist acts, the threat of any of the
foregoing, or political and labor instability in any of the countries
where the Company's or its licensees' or other business partners'
products are sold, produced or are planned to be sold or produced; (vi)
disease epidemics and health related concerns, which could result in
closed factories, reduced workforces, scarcity of raw materials and
scrutiny or embargoing of goods produced in infected areas, as well as
reduced consumer traffic and purchasing, as consumers limit or cease
shopping in order to avoid exposure or becoming ill; (vii) acquisitions
and issues arising with acquisitions and proposed transactions,
including without limitation, the ability to integrate an acquired
entity into the Company with no substantial adverse affect on the
acquired entity's or the Company's existing operations, employee
relationships, vendor relationships, customer relationships or financial
performance; (viii) the failure of the Company's licensees to market
successfully licensed products or to preserve the value of the Company's
brands, or their misuse of the Company's brands; and (ix) other risks
and uncertainties indicated from time to time in the Company's filings
with the Securities and Exchange Commission.
The Company's presentation will include non-GAAP financial measures, as
defined under SEC rules. Reconciliations of these measures are included
in the Company's 2011 year-end earnings press release, which was
released on March 27, 2012, and is available on the Company's website at http://www.pvh.com/
investor_relations_press_releases.aspx. Additional reconciliations for
years 2003-2009 are available in the Company's Current Reports on Form
8-K furnished to the SEC on March 17, 2005, March 26, 2007, March 23,
2009 and March 28, 2011. Each of these reports, the Company's Current
Report on Form 8-K furnished to the SEC in connection with the March 27,
2012 press release and the Current Report on Form 8-K to be furnished in
connection with this release, is or will be available on the Company's
website at http://www.pvh.com
and the SEC's website at http://www.sec.gov.
The Company does not undertake any obligation to update publicly any
forward-looking statement, including, without limitation, any estimate
regarding earnings, whether as a result of the receipt of new
information, future events or otherwise.
SOURCE: PVH Corp.
PVH Corp.
Dana Perlman, 212-381-3502
Treasurer
and Senior Vice President, Business Development
and Investor
Relations
investorrelations@pvh.com