PVH Net Profit Exceeded Expectations In The Third Quarter

PVH Corp (NYSE:PVH), the parent company of fashion and luxury brands Calvin Klein and Tommy Hilfiger, recently announced its third quarter financial report, which basically surpassed its performance.

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On that day, PVH closed at $124.34, or 2.05%.

But as of last Wednesday, the stock still fell 6% in the whole year, running 12% of the S & P 500 index.

According to reports, PVH company

Sales revenue of $2 billion 230 million, less than market expectations.

But the company's net profit was 225 million 700 thousand US dollars, and its earnings per share were US $2.56, higher than the expected value of US $2.48 before Zacks.

PVH forecasts that the company's annual sales revenue is $8 billion 300 million, and its sales revenue in the fourth quarter is $2 billion 100 million, which is lower than the expected value of $2 billion 190 million given by Zacks.

At the same time,

Forecast Ltd's annual earnings per share ranged from 7.25 US dollars to US $7.3, and the earnings per share in the fourth quarter were US $1.71 to US $1.76, lower than the 1.9 US dollar forecast given by Zacks.

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J.Crew Group Inc., a fashion retailer in the US, responded to the trend of consumers moving from physical stores to online shopping. It made a non cash impairment of $684 million on its physical stores and J.Crew brand names, making it net profit in the three quarter of November 1st as a net loss of $607 million 800 thousand, compared with a net profit of 35 million 400 thousand dollars in the same period last year.

J.Crew Group Inc. pointed out in the earnings report that the difference between the fair value and the book value of the physical stores in the one or two quarter of this fiscal year has narrowed considerably. In the three quarter, because of the sluggish sales of women's clothing and accessories, the group's CEO Millard "Mickey" Drexler was "extremely challenging and very difficult", so the profitability of the entity store was further weakened, which is expected to last at least until the first quarter of fiscal year 2015.

Therefore, according to current and expected operating results, the group reduced the value of its physical store by 57% or 536 million dollars, while the value of the J.Crew brand name was also reduced by $145 million.

Stuart Haselden, chief financial officer of J. Crew Group Inc., said the operation reflected the change in people's shopping habits: "shopping mall passenger traffic has declined for two consecutive years, and the e-business in the whole industry has been increasing."

However, the group has no plans to close its stores, but next year it will add 20 new stores to its young brand Madewell.

Madewell achieved 32% growth in the three quarter.

The total revenue in the three quarter totaled $655 million 200 thousand, up 6% from the same period last year, while the same store sales decreased by 2% year-on-year, while the same period last year increased by 4%. Direct sales (e-commerce and mail order business) increased 10% to 207 million 800 thousand dollars, an increase that was considerably slower than that of the same period last year.

Gross profit margin fell from 43.9% in the same period last year to 40.2%, or 370 basis points.

The adjusted EBTIDA profit before tax and depreciation amortization fell 26.7% to $80 million 900 thousand compared to the same period last year, compared with $110 million 400 thousand last year.