Thank you for an excellent write up on a stock that's been on my watchlist for a while. The compelling case is the valuation. It is CHEAP. My problem is that valuation is the only reason why I would buy it. CK and Tommy are good (but not great) brands operating in the cut throat mid-price range of fashion. Then we have the looming (current?) recession.

I'm a LT investor and there's not enough going for PVH to convince me.

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I definitely agree, the quality of the business leaves a lot to be desired and it's not the sort of business that I would like to own over the long term.

While I can see some long term investors owning this, they would need to be very familiar with the mid-priced fashion industry. I can also see a management buyout, or PE, or activist investor coming in and doing some good.

For small investors like me though this is a 100% a value play with the goal being primarily to take advantage of a market mispricing.

That said there significant risks there, unlike $FL for example the companies dividend is tiny so we're unlikely to get any attractive ongoing return independent of Mr. Market, which to me isn't a good thing.

Right now I'm not in a position to allocate capital to this, so that isn't really a problem, but if I were then the low dividend would really weight heavily because of that.

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