With a history going back over 130 years,
*The Speedo brand is licensed for
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
Forward-looking statements in this press release, including, without
limitation, statements relating to the Company’s earnings estimates, 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, (i)
the Company’s plans, strategies, objectives, expectations and intentions
are subject to change at any time at the discretion of the Company; (ii)
the Company may be considered to be highly leveraged, and uses a
significant portion of its cash flows to service its 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, including the
Company’s ability to realize benefits from its acquisitions; (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, 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
become ill or limit or cease shopping in order to avoid exposure; (vii)
acquisitions and divestitures and issues arising with acquisitions,
divestitures and proposed transactions, including, without limitation,
the ability to integrate an acquired entity or business into the Company
with no substantial adverse effect on the acquired entity’s, the
acquired business’s or the Company’s existing operations, employee
relationships, vendor relationships, customer relationships or financial
performance, and the disposal of the net assets of a divested entity;
(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; (ix) the Company’s results could
be adversely affected by the strengthening of the U.S. dollar against
foreign currencies in which we transact significant levels of business;
(x) the Company’s retirement plan expenses recorded throughout the year
are calculated using actuarial valuations that incorporate assumptions
and estimates about financial market, economic and demographic
conditions, and differences between estimated and actual results give
rise to gains and losses that are recorded immediately in earnings,
generally in the fourth quarter of the year; and (xi) other risks and
uncertainties indicated from time to time in the Company’s filings with
the
Certain earnings per share guidance referenced in this press release is
on a non-GAAP basis, as defined under
Earnings per share guidance in this release speaks as of
View source version on businesswire.com: http://www.businesswire.com/news/home/20170105005848/en/
Source:
PVH Corp.
Dana Perlman, 212-381-3502
Treasurer
and Senior Vice President, Business Development and Investor Relations
investorrelations@pvh.com