Shares of PVH Corp (NYSE:PVH) ended Thursday session in red amid volatile trading. The shares closed down -1.43 points or -1.30% at $108.77 with 80.23 million shares getting traded. Post opening the session at $109.18 the shares hit an intraday low of $108.52 and an intraday high of $110.40 and the price vacillated in this range throughout the day. The company has a market cap of $8.87 billion and the numbers of outstanding shares have been calculated to be 80.23 million shares.
PVH Corp (PVH) on August 25, 2016 reported 2016 second quarter results.
Amounts stated to be on a non-GAAP basis exclude the items that are described below under the heading “Non-GAAP Exclusions.” Amounts stated on a constant currency basis are also non-GAAP financial measures. Reconciliations of amounts on a GAAP basis to amounts on a non-GAAP basis are presented later in this release and identify and quantify all excluded items.
Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, “Our strong performance year to date exceeded our expectations and demonstrated our ability to deliver against our 2016 plan, despite the challenging macroeconomic environment. We experienced strong momentum in our Calvin Klein and Tommy Hilfiger International businesses and have seen improvement across our North America wholesale businesses, but we continue to be pressured by weakness in traffic and consumer spending trends at our Tommy Hilfiger and Calvin Klein U.S. stores located in international tourist locations.”
Shares of Snyder’s-Lance Inc (NASDAQ:LNCE) ended Thursday session in red amid volatile trading. The shares closed down -0.46 points or -1.30% at $34.92 with 96.07 million shares getting traded. Post opening the session at $35.13 the shares hit an intraday low of $34.17 and an intraday high of $35.52 and the price vacillated in this range throughout the day. The company has a market cap of $3.35 billion and the numbers of outstanding shares have been calculated to be 96.07 million shares.
Snyder’s-Lance Inc (LNCE) on Sept. 1, 2016 announced that the Company’s Kettle Foods subsidiary completed the acquisition of Metcalfe’s skinny Limited (“Metcalfe”), by acquiring the remaining 74% interest in the leading UK premium popcorn brand. Kettle Foods had initially acquired a 26% stake in the business from Metcalfe in January 2016. Metcalfe was founded in 2009 by Julian Metcalfe, the co-founder of Pret A Manger and founder of itsu.
Metcalfe’s skinny is the UK’s leading premium popcorn brand, and also incorporates a fast growing range of corn and rice cake products. The UK popcorn market is one of the fastest growing categories within the UK snack food industry, growing by 45% over the last two years1 as consumers increasingly seek out better-for-you snacking options. The addition of a leading premium popcorn brand, Metcalfe’s skinny popcorn®, to the UK’s leading premium chip brand, KETTLE® Chips, reflects Kettle Foods’ ambition to evolve into a more widely based premium snacking leader in Europe.
Carl E. Lee, Jr., President and Chief Executive Officer of Snyder’s-Lance commented, “We are excited to add the Metcalfe’s skinny brands to our portfolio and expand our presence in the UK marketplace. We see tremendous growth in the UK with additional opportunities for further international expansion for our innovative collection of snacking brands. This addition to our branded portfolio provides us with another better-for-you option in a growth snacking category in the European markets, and we look forward to supporting the continued success of the Metcalfe’s skinny brands.”