Goldman Sachs Maintains Buy on Phillips-Van Heusen

Goldman Sachs is out with its report today on Phillips-Van Heusen (NYSE: PVH), maintaining Buy.

In a note to clients, Goldman Sachs writes, "PVH was once again a standout among apparel manufacturers this EPS season as it delivered a strong revenue driven beat, gross margin expansion, and raised guidance. It checked all the critical boxes that many including GPS and RL could not. While it is not immune to inflationary pressures, its well-positioned CK and Tommy brands' strength is overwhelming its more challenged Heritage businesses. These results should bolster confidence that management's unchanged annual EBIT margin forecasts of 11.0%-11.5% are likely achievable and potentially beatable."

Shares of PVH closed Tuesday at $65.97, down 0.92% from Friday's close.