The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how apparel and accessories stocks fared in Q1, starting with PVH (NYSE: PVH).
Thanks to social media and the internet, not only are styles changing more frequently today than in decades past but also consumers are shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel and accessories companies have made concerted efforts to adapt while those who are slower to move may fall behind.
The 17 apparel and accessories stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was in line.
In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.
PVH (NYSE: PVH)
Founded in 1881 by a husband and wife duo, PVH (NYSE: PVH) is a global fashion conglomerate with iconic brands like Calvin Klein and Tommy Hilfiger.
PVH reported revenues of $1.98 billion, up 1.6% year on year. This print exceeded analysts’ expectations by 2.6%. Despite the top-line beat, it was still a slower quarter for the company with full-year EPS guidance missing analysts’ expectations.
Stefan Larsson, Chief Executive Officer, commented, “In Q1, we continued to tap into the global consumer love for Calvin Klein and TOMMY HILFIGER, delivering revenue growth versus last year and ahead of guidance. Calvin Klein saw one of its most impactful product launches in years with the Icon Cotton Stretch franchise, amplified by the viral Bad Bunny campaign. TOMMY HILFIGER tapped into its lifestyle DNA with rich product storytelling around seasonal newness of Tommy classics to drive growth and built momentum for the brand’s collaboration with the biggest movie launch of the summer: F1® The Movie.”
The stock is down 20.8% since reporting and currently trades at $64.
Read our full report on PVH here, it’s free.
Best Q1: ThredUp (NASDAQ: TDUP)
Founded to revolutionize thrifting, ThredUp (NASDAQ: TDUP) is a leading online fashion resale marketplace offering a wide selection of gently-used clothing and accessories.
ThredUp reported revenues of $71.29 million, up 10.5% year on year, outperforming analysts’ expectations by 4.4%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates.
ThredUp delivered the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 81.9% since reporting. It currently trades at $8.06.
Is now the time to buy ThredUp? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Movado (NYSE: MOV)
With its watches displayed in 20 museums around the world, Movado (NYSE: MOV) is a watchmaking company with a portfolio of watch brands and accessories.
Movado reported revenues of $131.8 million, down 1.9% year on year, falling short of analysts’ expectations by 7.3%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
Movado delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 12.4% since the results and currently trades at $15.28.
Read our full analysis of Movado’s results here.
G-III (NASDAQ: GIII)
Founded as a small leather goods business, G-III (NASDAQ: GIII) is a fashion and apparel conglomerate with a diverse portfolio of brands.
G-III reported revenues of $583.6 million, down 4.3% year on year. This number topped analysts’ expectations by 0.6%. Zooming out, it was a mixed quarter as it also produced a solid beat of analysts’ EPS estimates but EPS guidance for next quarter missing analysts’ expectations.
The stock is down 23.3% since reporting and currently trades at $21.20.
Read our full, actionable report on G-III here, it’s free.
Figs (NYSE: FIGS)
Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE: FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.
Figs reported revenues of $124.9 million, up 4.7% year on year. This result beat analysts’ expectations by 4.8%. It was an exceptional quarter as it also recorded a solid beat of analysts’ adjusted operating income estimates.
Figs achieved the biggest analyst estimates beat among its peers. The stock is up 4.3% since reporting and currently trades at $5.24.
Read our full, actionable report on Figs here, it’s free.
Market Update
In response to the Fed’s rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed’s 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump’s presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025.
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