Phillips Van Heusen/PVH
The company issues upside guidance for Q2, sees EPS of $0.38-0.39 vs. $0.33 consensus; sees Q2 revs of $420-425 million vs. $397.24 million consensus. Also issues upside guidance for FY06, sees EPS of $1.68-1.73 vs. $1.61 consensus; sees FY06 revs of $1.8-1.82 billion vs. 1.76 billion consensus. The company states, "Our 2005 guidance continues to be based on a conservative view of the second half of the year and we have not raised, at this time, our earnings estimates for the third and fourth quarters." Also states that if the current trends continue they would expect to exceed present Q3, Q4 guidance. The company continues to expect "at least 15-20%" growth per year." The company states that the they do not expect to be impacted by the potential Chinese tariffs, as they already have adjusted sourcing to protect themselves. (At present, roughly 20-25% of company's sourcing comes from China.)
The chart looks great -- 6 month base with an obvious breakout at ~$30 (occurring today, with a high trade of $30.75 and volume that is already ~250% of average daily volume). So I asked Trader Dan. He responded with, "... looks good! What's going on in this sector? Could it be that business casual died with .com and pent-up demand is just now coming in?"
With the successes of MW, JOSB, and others in this group, I understand his comments. I am long.