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Calvin Klein parent PVH sets $12.5 billion revenue goal, adds $1 billion to share buyback program

37317 calvin klein parent pvh sets 12 5 billion revenue goal adds 1 billion to share buyback program

PVH Corp. PVH, +2.13% unveiled its multi-year strategy called the PVH+ Plan on Wednesday, ahead of the company’s investor day. The plan includes growth in digital, direct-to-consumer and the company’s two key brands, Calvin Klein and Tommy Hilfiger. PVH has set 2025 revenue target of $12.5 billion with free cash flow of over $1 billion, and has increased the stock repurchase plan by $1 billion. The company maintained its full-year 2022 guidance for a revenue increase of 2% to 3% and EPS of $9.00. The FactSet consensus is for revenue of $18.949 billion, suggesting 2.6% growth, and EPS of $7.14. PVH stock is down more than 28% for the year to date.

Source: Marketwatch

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