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Phillips-Van Heusen Earnings Beat Wall Street in Q2

Steven Mallas — Wed, 08 Sep 2010 09:00:00 EST

Filed under: Earnings Reports, Polo Ralph Lauren'A' (RL)

Phillips-Van Heusen (PVH), whose related stocks include Perry Ellis (PERY) and Polo Ralph Lauren (RL), issued its second-quarter report yesterday after the bell. At the time of this writing, the stock was up by 1.5% to a price of $51.25 during the extended-hours session. The market liked the results. So did I.

On an adjusted basis, the apparel maker behind the Calvin Klein and Tommy Hilfiger brands made 72 cents per share. TheFly says that this number totally obliterated the analyst call, as the expected figure was 54 cents per share.

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Phillips-Van Heusen Earnings Beat Wall Street in Q2 originally appeared on BloggingStocks on Wed, 08 Sep 2010 09:00:00 EST. Please see our terms for use of feeds.

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Phillips-Van Heusen Tops Estimates, the Future Looks Bright

Steven Mallas — Tue, 23 Mar 2010 08:30:00 EST

Filed under: Earnings Reports, Polo Ralph Lauren'A' (RL)

Phillips Van-Heusen Corp. (PVH) issued Q4 numbers Monday after the bell. The apparel maker, which recently purchased the Tommy Hilfiger brand, doubled its adjusted income to 61 cents per share. That was two pennies ahead of estimates. The top line increased 9%, also on an adjusted basis.

When you compare the fourth quarter's growth rates to the performance of the full fiscal year, you'll see a clear advantage to the former. This is hopefully indicative of a bright future course.

Continue reading Phillips-Van Heusen Tops Estimates, the Future Looks Bright

Phillips-Van Heusen Tops Estimates, the Future Looks Bright originally appeared on BloggingStocks on Tue, 23 Mar 2010 08:30:00 EST. Please see our terms for use of feeds.

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Tommy Hilfiger Close to a $3 Billion Sale

Zac Bissonnette — Mon, 15 Mar 2010 08:00:00 EST

Bloomberg is reporting that private equity firm Apax Partners is close to a $3 billion deal to sell its Tommy Hilfiger brand to Phillips-Van Heusen Corp. (PVH).

Given that Apax acquired the brand for $1.6 billion back in 2005 -- during a much more favorable market for the apparel industry -- the deal has to be considered a huge success. The size of the reported deal might seem surprising to followers of the American apparel industry, where the Hilfiger brand is well past its prime.

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Tommy Hilfiger Close to a $3 Billion Sale originally appeared on BloggingStocks on Mon, 15 Mar 2010 08:00:00 EST. Please see our terms for use of feeds.

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Movado posts big loss -- don't waste your time on this stock

Steven Mallas — Thu, 09 Apr 2009 15:00:00 EST

Filed under: Earnings Reports, Coach Inc (COH)

Movado Group (NYSE: MOV), maker of watches, reported numbers for the fourth quarter. Really bad numbers. Net sales dropped over 32%. For the bottom line, there was a net loss of $0.42 per share on an adjusted basis. In last year's Q4, Movado generated adjusted income of $0.40 per share. That is one hell of a drop. Furthermore, the market wasn't even close to anticipating this ugly performance. According to this source, analysts thought that the company would only bleed about $0.02 per share.

You know, I haven't worn a watch in a long time. Maybe a lot of people are thinking like me, that they don't really need watches since we have so much access to clocks via cell phones and other devices (I don't own a cell phone, but I'm content to simply seek out a clock if I'm out and about). Of course, I'm being a little facetious here. Movado is merely suffering through a bad economy. And it's perhaps in need of some better management. The company sells timepieces based on licensed brands such as Coach (NYSE: COH) and Tommy Hilfiger. Consumers are apparently satisfied with purchasing cheap, non-branded watches. Can't blame them.

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Movado posts big loss -- don't waste your time on this stock originally appeared on BloggingStocks on Thu, 09 Apr 2009 15:00:00 EST. Please see our terms for use of feeds.

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Newspaper wrap-up: Merrill Lynch CEO discusses merger with Wachovia

Eric Buscemi — Fri, 26 Oct 2007 09:15:00 EST

Filed under: Newspapers, Magazines, Merrill Lynch (MER), Wachovia Corp (WB)

MAJOR PAPERS:

A former Royal Bank of Canada (NYSE: RY) trader alleged that some employees "miss-marked" bonds to increase profits at the New York office's investment banking unit, the Wall Street Journal reported.
The WSJ also reported that private-equity firm J.C. Flowers & Co is in talks with UK lender Northern Rock, but has not confirmed it will launch a bid for the troubled firm wrapped up in the subprime meltdown.

OTHER PAPERS:

The New York Times reported Merrill Lynch & Co Inc (NYSE: MER) CEO Stanley O'Neal contacted Wachovia Corporation (NYSE: WB) CEO G. Kennedy Thompson last week to discuss the possibility of a merger between the companies, according to inside sources; Merrill's board has reportedly started considering candidates to replace him.
The Times also reported that designer Tommy Hilfiger agreed to sell his biggest clothing line exclusively at Macy's Inc (NYSE: M). Under the agreement, Mr. Hilfiger would remove his clothing lines from stores like The Bon-Ton Stores Inc (NASDAQ: BONT) and Dillard's Inc (NYSE: DDS).

Newspaper wrap-up: Merrill Lynch CEO discusses merger with Wachovia originally appeared on BloggingStocks on Fri, 26 Oct 2007 09:15:00 EST. Please see our terms for use of feeds.

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G-III Apparel Group (GIII): not losing as much money as fast

Victoria Erhart — Tue, 23 Oct 2007 19:39:00 EST

You have to admire the courage of senior management teams who agree to present at financial conferences, especially when the president of the company is unloading stock, and the best spin the CFO can put on the numbers is that they aren't as bad as they used to be. Such is the case with G-III Apparel Group, Ltd. (Nasdaq: GIII), which manufactures and distributes higher end coats and jackets under label for Calvin Klein, Guess?, Tommy Hilfiger and others, as well as licensed sportswear. G-III licenses jackets for the NHL, NBA, MLB, and dozens of major colleges and universities. They control a brand portfolio to envy. So why is it that the best the company can do is not lose as much money as quickly?

To its credit, G-III has narrowed its losses in 3Q 2007 by almost 60%, down to about $0.05 per share, compared with $0.14 per share a year ago. Net sales for the recent quarter were up 21% to $84 million. CEO Morris Goldfarb was so pleased with the posted loss that was well below what was expected that he has raised FY2007 guidance to $0.90-$0.95 per diluted share based on a $10 million increase in sales to $510 million.

This positive spin does not at all address the problems facing G-III. Are its costs not yet under control? Are its licensing deals structured in such a way that it is difficult to turn a profit? It manufactures team jackets for most major American sports leagues. Surely some of them must be widely popular with sports fans. Yet even CEO Goldfarb admits that sportswear is not yet a "meaningful" contributor to the bottom line. Investors should hope he accelerates his search for meaning and soon.

G-III Apparel Group (GIII): not losing as much money as fast originally appeared on BloggingStocks on Tue, 23 Oct 2007 19:39:00 EST. Please see our terms for use of feeds.

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