Barely a week after hitting a 52-week high, shares at PVH Corp have marked to that start of the new yearwith another highest mark. Shares of PVH Corp. reached a new 52-week high of 137.66 dollars on Jan 2, 2014, beating its the 136.32 dollars conquered on Dec 26, 2013.
With this bright start of the year, the fashion retailer delivers a year-on-year return of 22.2 percent.
“An impressive record of beating the quarterly earnings expectations, sustained focus on brand building, asset management, global expansion and effective implementation of business strategies mainly drove the strong appreciation of PVH shares,” explain Zacks Equity Research in a note to investors.
Motley Fool adds that “PVH Corp (NYSE:PVH) is making a number of efforts to boost its revenue further. It has been taking measures to restructure its Heritage brands segment, which grew by 10 percent mainly due to the addition of Warner and Olga businesses. PVH was witnessing declining sales at its G.H. Bass division, which hampered sales from this segment. Therefore, the company decided to sell its Bass division.”