Fashion can be fun but make no mistake, it can be profitable too. The global apparel market is coming off a historic decline caused by lockdowns, social distancing, and economic slowdowns due to the COVID-19 outbreak and the measures to contain it. COVID still lingers but the apparel market looks ripe for rebound and ready to hit new highs. During the lockdown, consumers strayed away from purchasing new apparel. However, apparel companies still have the potential to deliver good earnings and significant capital gains. Not only is the industry huge, but it also ripe for rebound with much higher seasonal demand during the holidays. Time to shed the sweatpants, get dressed for success and get serious about some apparel.
Some the largest, most popular apparel labels are owned and operated by unfamiliar names like PVH Corp. (NYSE: PVH) which has multiple brands under its umbrella including Van Heusen, Tommy Hilfiger, and Calvin Klein among others. Formerly known as the Phillips-Van Heusen Corporation, PVH also licenses brands such as Kenneth Cole New York and Michael Kors. PVH is one of the largest global apparel companies in the world reporting $7.1 billion in 2020 revenues. PVH reported third-quarter fiscal 2021 results, where the bottom line surpassed the Zacks Consensus Estimate, while the top line missed the same. However, both metrics improved year over year. The Calvin Klein segment improved 22% year over year and the Tommy Hilfiger segment rose 12%. A top hedge fund, Pzena Investment Management, had $439 million invested in…
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