Deutsche Bank Remains 'Constructive' Ahead of PVH's Q3 Earnings

PVH Corp (NYSE: PVH) is expected to report its third-quarter results on Wednesday after market close.

In a note to clients on Monday, Dave Weiner of Deutsche Bank noted that he remains “constructive” heading into the third quarter print and notes that the post-earnings conference call is “pivotal for solidifying confidence.”

According to Weiner, PVH's fourth quarter represents a positive next 12 months profit inflection based on initial results from a revamped Calvin Klein jeans program that initially hit the stores at the same time the company reported its second-quarter results.

Weiner's checks indicate that the revamped Calvin Klein products have “shown some stability” in selling at full-price, though not entirely.

“While there are risks, including potentially that third quarter revenues slowed due to the weather, foreign exchange and uncertainty around the holidays, we like PVH Corp on the turnaround opportunity and the potential for normalized valuation if earnings per share cadence inflects,” Weiner wrote.

The analyst expects the company to earn $2.48 per share on $2.2555 billion in revenue, relatively in-line with consensus estimates.