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Healthcare

BRIEF-PVH Reports Q4 Non-GAAP Earnings Per Share $1.88

April 1 (Reuters) - PVH Corp:

* REPORTS 2019 FOURTH QUARTER AND FULL YEAR RESULTS

* Q4 NON-GAAP EARNINGS PER SHARE $1.88

* Q4 GAAP LOSS PER SHARE $0.93

* Q4 EARNINGS PER SHARE ESTIMATE $1.81 -- REFINITIV IBES DATA

* Q4 REVENUE $2.6 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.5 BILLION

* Q1 AND FULL YEAR 2020 RESULTS WILL INCLUDE A SIGNIFICANT NEGATIVE IMPACT AS A RESULT OF COVID-19 PANDEMIC

* 2020 GUIDANCE CANNOT BE PROVIDED AT THIS TIME

* 2020 GUIDANCE CANNOT BE PROVIDED AT THIS TIME

* PVH ENDED YEAR WITH A STRONG HOLIDAY SEASON

* BELIEVE THAT WE ARE IN A SOLID FINANCIAL POSITION TO NAVIGATE COVID-19 OUTBREAK

* ALSO ARE TAKING A HARD LOOK AT ALL OF DISCRETIONARY SPENDING, PAYROLL AND SALARY REDUCTIONS

* PVH - VIRUS-RELATED CONCERNS, OTHERS RESULTED IN SHARPLY REDUCED TRAFFIC AND CONSUMER SPENDING TRENDS AND SALES STOPPAGES IN CO’S RETAIL STORES IN Q1

* REVENUE IN TOMMY HILFIGER BUSINESS FOR QUARTER INCREASED 12% TO $1.3 BILLION COMPARED TO THE PRIOR YEAR PERIOD

* PVH - REVENUE IN THE CALVIN KLEIN BUSINESS FOR THE QUARTER DECREASED 2% TO $936 MILLION IN QUARTER

* QTRLY TOMMY HILFIGER NORTH AMERICA REVENUE DECREASED 2% TO $440 MILLION COMPARED TO THE PRIOR YEAR PERIOD

* VIRUS-RELATED CONCERNS, REDUCED TRAVEL, TEMPORARY STORE CLOSURES AND GOVERNMENT-IMPOSED RESTRICTIONS RESULTED IN SHARPLY REDUCED TRAFFIC

* COMPANY’S SUPPLY CHAIN AND SUPPLY CHAINS OF ITS LICENSING PARTNERS HAVE BEEN DISRUPTED

* SUSPENDING ITS CASH DIVIDEND BEGINNING WITH THE SECOND QUARTER OF 2020

* PVH - CALVIN KLEIN NORTH AMERICA REVENUE DECREASED 11% TO $382 MILLION IN QUARTER

* SIGNIFICANT UNCERTAINTY ABOUT DURATION AND EXTENT OF NEGATIVE IMPACTS OF COVID-19 PANDEMIC ON COMPANY

* PREVIOUSLY ANNOUNCED CASH DIVIDEND OF $0.0375 PER COMMON SHARE PAID ON MARCH 31, 2020 WAS NOT AFFECTED BY SUSPENSION

* ENDED 2019 WITH CASH OF $503 MILLION AND WITH INVENTORY LEVELS DOWN 7% COMPARED TO PRIOR YEAR

* DREW DOWN $750 MILLION FROM ITS OVER $1 BILLION REVOLVING CREDIT FACILITY TO ADD TO CASH BALANCES

* SUSPENDED SHARE REPURCHASES UNDER STOCK REPURCHASE PROGRAM

* SUSPENDING ITS CASH DIVIDEND BEGINNING WITH Q2 OF 2020

* PVH - Q1 AND FULL YEAR 2020 RESULTS WILL INCLUDE A SIGNIFICANT NEGATIVE IMPACT AS A RESULT OF THE COVID-19

* TIGHTLY MANAGING INVENTORIES, WITH A FOCUS ON REDUCING ITS WORKING CAPITAL

* PVH - SUPPLY CHAIN AND SUPPLY CHAINS OF LICENSING PARTNERS HAVE BEEN DISRUPTED AND MAY EXPERIENCE FUTURE DISRUPTIONS DUE TO COVID-19 Source text for Eikon: Further company coverage:

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