US Retail Giants Are Pessimistic About The Upcoming Holiday Season.

Another American retail giant is pessimistic about the upcoming holiday season.

Calvin Klein, Tommy Hilfiger parent Corp. PVH (NYSE:PVH) said on Wednesday that it expects the current quarter adjusted earnings per share to be $1.13 to $1.18, far less than Zacks's expected $1.30, which is also far less than the expected $1.28 of Thomson Reuters I/B/E/S, and the actual pre tax period is only 0.99 to 1.04 US dollars.

The company's 6.51 - 6.56 US dollar adjusted EPS for the whole year is also slightly worse than the $6.66 expected by Thomson Reuters I/B/E/S.

Adverse expectation stimulus PVH Corp. (NYSE:PVH) shares fell more than 1% after the market.

As of the three quarter of October 30, 2016, PVH Corp. recorded a net profit of US $1.262, or US $1.56 per share, which was 221 million 900 thousand US dollars in the same period last year, and 43.1% US dollars in earnings per share, far less than the group expected $2.30 2.35 US dollars.

However, the group said that the profits plunged by $77 million were caused by Mexico subsidiaries, and the losses were not expected.

Excluding the above non cash losses, the EPS in the three quarter was $2.60, more than Zacks's expected $2.41 and Thomson Reuters I/B/E/S's expected $2.40.

In the three quarter, group revenue increased by 3.7% from 2 billion 164 million 500 thousand US dollars in the same period last year to US $2 billion 244 million 300 thousand, with sales revenue of US $2 billion 123 million 400 thousand, a 4% increase over the same period last year.

During the three quarter,

Revenue grew 9.5% to $891 million 200 thousand, compared with $814 million 100 thousand in the same period last year, and the fixed exchange rate increased by 10%, with an increase of 16% to 389 million 300 thousand dollars in the international market period, a 17% increase in fixed exchange rate, 7% sales in the same store, and a native North America.

Revenue grew 5% to 501 million 900 thousand dollars, fixed exchange rate increased 6%, and same store sales fell 5%, leading to a flat retail business, mainly due to weak tourist consumption.

The Calvin Klein business recorded $68 million 900 thousand in the three quarter of EBIT, which dropped 52.7% from 145 million 800 thousand US dollars in the same period last year, of which 77 million US dollars caused a non cash loss from Mexico branch.

According to the world clothing and shoe net, Tommy Hilfiger business recorded a revenue of US $927 million 200 thousand in the three quarter, a 4.5% increase over the same period last year, and a 6% increase in fixed exchange rate.

During the period,

International business grew by 16% to 525 million US dollars, compared with 453 million 700 thousand US dollars in the same period last year. The growth was mainly stimulated by the 10% growth of the same store sales in the European market and the acquisition of the remaining 55% equity of the Chinese joint venture company.

However, the Tommy Hilfiger North America business decreased by 7% to 402 million 200 thousand US dollars in the three quarter, compared with 433 million 900 thousand US dollars in the same period last year, and the decline in North American business was mainly caused by 11% same store sales slump.

During the period, EBIT of the business was recorded at $116 million 300 thousand, a decrease of 7.5% over the same period last year of $125 million 700 thousand.

The brand used the 21 year old net red, IT Girl and model Gigi Hadid as spokesperson for Tommy Hilfiger autumn and winter to attract new young consumers. The two sides also launched Gigi Hadid capsule in the fashion week. However, it seems that this cooperation is not optimistic about the promotion of brand sales.

PVH Corp.'s Heritage Brands classic American brand business recorded $425 million 900 thousand in the three quarter, compared with $462 million 800 thousand a year earlier.

{page_break} PVH Corp.'s weak forecast for the holiday season also includes revenue. The Group expects revenue in the four quarter of this year to record a 1% decline, of which Calvin Klein business income in the fourth quarter is expected to fall by 5%, Tommy Hilfiger business is expected to rise 3%, Heritage Brands and Corp. business fall 3%, including 2% adverse exchange rate effects, PVH Corp. expects annual revenue to increase by 2%, of which 6% is 6%, the growth rate is 4%, and the decline is 9%, including the adverse effects of 1%.

PVH Corp. chairman and chief executive, Emanuel Chirico Chirico, said in the earnings report that the tourism consumption of the group's two largest brands in the US market is still weak and the traffic volume has not improved at all, but he is satisfied with the group's three quarter performance in the current economic environment.

In the three quarter, PVH Corp. appointed Raf Raf Simons as the chief creative officer in early August for Calvin Klein Inc., leading all the global creative strategies of the brand, hoping to speed up the brand's annual sales target of over US $10 billion.

Raf Simons will release his first Calvin Klein brand series in early 2017.

However, Raf Simons still seems to be playing the role of "black Chai". Before he served Jil Sander and Dior, the brand performance was extremely bad, and only three months after joining Calvin Klein Inc., Calvin Klein Inc. was going to have a decline in revenue. It was also a group merger. The first time there was a decline in fixed exchange rate when the brand was seized. The two quarter of 2015 fiscal year, the income of the company has been declined according to the actual exchange rate.

PVH Corp. (NYSE:PVH) closed at $105.94 on Wednesday, down 0.08% from a day, but the stock has jumped 43.84% since 2016.

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