PVH Corp. Provides Earnings Guidance for the First Quarter and Full Year 2022
Revenue in 2022 is projected to increase 2% to 3% (increase 6% to 7% on a constant currency basis) as compared to 2021, which reflects (i) a 2% reduction resulting from the Heritage Brands transaction and the exit from the Heritage Brands Retail business and (ii) a 2% reduction resulting from the Company's decision to temporarily close its stores and pause commercial activities in Russia and Belarus, as well as a reduction in wholesale shipments to Ukraine as a result of the war. The Company currently projects that 2022 operating margin will be approximately 10%. The Company currently projects that 2022 earnings per share will be approximately $9.00 compared to $13.25 on a GAAP basis.