NEW YORK - PVH Corp. (NYSE: NYSE:PVH), the parent company of iconic fashion brands including Calvin Klein and Tommy Hilfiger, has announced the departure of Martijn Hagman, CEO of Tommy Hilfiger Global and PVH Europe. Hagman will continue to serve in an advisory role to ensure a seamless transition.
Lea Rytz Goldman, currently the President of Tommy Hilfiger Global, will now report directly to PVH CEO Stefan Larsson. David Savman, the Chief Supply Chain Officer at PVH, has been appointed as the Interim CEO for PVH Europe while the company conducts a search for a permanent successor.
Larsson expressed gratitude for Hagman's 16 years of service, highlighting his significant role in developing PVH's European operations into a profitable entity. Larsson also noted Savman's contributions to the company's strategy and execution, termed the PVH+ Plan.
Hagman, reflecting on his tenure, expressed pride in the growth of both the Calvin Klein and TOMMY HILFIGER brands in Europe and voiced confidence in the team's ability to drive future growth.
PVH Corp., one of the world's largest fashion companies, operates in over 40 countries and has a history spanning 140 years. The company has emphasized its commitment to driving fashion forward responsibly.
InvestingPro Insights
As PVH Corp. (NYSE: PVH) navigates a leadership transition, the company's financial health and strategic market moves remain a critical focus for investors. With a market capitalization of $6.75 billion and an attractive P/E ratio of 10.95, reflecting a more favorable valuation at 9.51 when adjusted for the last twelve months as of Q4 2024, PVH stands out in the apparel industry.
InvestingPro Tips highlight that PVH management has been proactive in share buybacks, a sign of confidence in the company's value and future prospects. Additionally, the company has maintained dividend payments for an impressive 54 consecutive years, indicating a strong commitment to shareholder returns. Investors looking for steady income streams alongside potential capital gains may find PVH's high shareholder yield appealing.
Key financial metrics underscore the company's robust performance, with notable revenue growth of 2.14% for the last twelve months as of Q4 2024. Gross profit margins remain strong at 58.18%, reflecting the company's ability to maintain profitability despite market challenges. Moreover, the company's return over the last year has been high, with a 58.01% price total return, signaling robust investor confidence.
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