PVH Corp. (PVH) stock fell 0.96% today after the global apparel company, which owns brands such as Calvin Klein and Tommy Hilfiger, posted financial results for the third quarter of 2021.
Third-quarter revenue increased 10% to $2.333 billion compared to the prior-year period, while third-quarter EPS came in at $3.89, exceeding guidance of $3.00 to $3.05.
E-commerce Growth
Much of PVH's strong results can be attributed to its digital channels, which brought in 15% more revenue in the third quarter than the same period last year.
Overall, digital penetration as a percentage of total revenue was approximately 21%.
Stefan Larsson, CEO, commented, "This reflects the strength of our global iconic brands, Calvin Klein and TOMMY HILFIGER, and the pricing power we are able to achieve through strength in product, consumer engagement, and consumer experience in the digitally led marketplace."
International Revenue Increase
PVH also saw strong international sales numbers, despite what the company described as "worsening logistics disruptions in October, including significant U.S. port delays."
Overall, these delays resulted in a 4% negative impact from an unplanned shift in the timing of U.S. wholesale shipments from the third quarter into the fourth quarter.
“Our third quarter earnings significantly exceeded our guidance, led by our international businesses, and we achieved overall stronger than expected margin performance across brands.
For the quarter, Tommy Hilfiger International revenue increased 11%, and Calvin Klein International increased 19%.
