PVH Corp (NYSE:PVH) stock rose 15.41% (As on April 1, 11:26:41 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY24. However, fourth-quarter net income fell 42.2 percent to $157.2 million, or $2.83 a diluted share, from $241.8 million, or $4.55, a year earlier. In North America, the company will continue to drive a double-digit EBIT margin, in Europe the Fall ‘25 order books are back to growth, and in Asia Pacific the company will continue to focus on driving strong consumer engagement across the diversified business in the region.

PVH in the fourth quarter of FY24 has reported the adjusted earnings per share of $3.27, beating the analysts’ estimates for the adjusted earnings per share of $3.21. The company had reported the adjusted revenue decline of 5 percent to $2.4 billion in the fourth quarter of FY24, beating the analysts’ estimates for revenue of $2.3 billion. This includes a 3% decline from the 53rd week in 2023 and a 1% decline resulting from the sale of the Heritage Brands women’s intimates business in November 2023. Overall revenue in the Company’s international businesses decreased 6% compared to the prior year period (decreased 3% on a constant currency basis), including a 3% decline from the 53rd week in 2023. In North America, revenue in the Tommy Hilfiger and Calvin Klein businesses combined increased 1% compared to the prior year period, as the benefit from a shift in timing of wholesale shipments from the third quarter into the fourth quarter was largely offset by a decline from the 53rd week in 2023. Direct-to-consumer revenue decreased 5% compared to the prior year period.

Additionally, the company has completed approximately $500 million stock repurchases during 2024 and planning $500 million stock repurchases in 2025 pursuant to accelerated share repurchase (“ASR”) agreements.

For fiscal 2025, revenue is projected to be flat to increase slightly (flat to increase slightly on a constant currency basis) compared to 2024. Operating margin is projected to be flat to increase slightly on a non-GAAP basis compared to 10.0% on a non-GAAP basis in 2024. Operating margin on a GAAP basis was 8.9% in 2024. EPS is projected to be in a range of $12.40 to $12.75 on a non-GAAP basis, including a negative impact of approximately $0.20 per share related to foreign currency translation.