Newday Spotlight: PVH
This week’s Newday spotlight is PVH. PVH (NYSE: PVH) is one of the largest global apparel companies, with nearly $9 billion in 2017 revenues. They manage a diversified portfolio of brands, including Calvin Klein, Tommy Hilfiger, Speedo, and many more. Corporate responsibility is central to how they conduct their business. Their CR strategy consists of ten commitments, which align with the UN’s Sustainable Development Goals.
Newday is proud to include PVH in the Gender Equality Portfolio, which is focused on equal pay, female leadership, and parental leave. PVH has a particular focus on equality and women’s advancement in the workplace. They demonstrate this through their commitment to the UN’s Women’s Empowerment Principles and their support for initiatives such as the United Nations’ HeForShe initiative as well as the Human Rights Campaign. PVH has multiple employee resource groups that focus on Women, LGBTQ people, and Working Parents. Today, 47% of PVH leaders are female, and 33% of PVH’s Board of Directors are female.
When it comes to inclusion and diversity, 1200 PVH leaders have completed their “Confronting Unconscious Bias” training, introduced in 2016 to help senior leaders identify and address biases in their decision-making. In fact, all new and recently promoted leaders are required to take the course. PVH has its own University of Inclusion and Diversity, where two new courses have recently been introduced: Microinequities and Generational Differences.
PVH’s other areas of focus include human rights, safe workplaces, responsible chemical management, water, sustainable packaging and materials, and greenhouse gases. For example, they currently have a stated target to reduced greenhouse gas emissions by 35% by 2030. PVH also includes an Animal Welfare Policy statement, which includes progressive rules such as prohibiting animal fur and only using wool that aligns with the Responsible Wool Standard (RWS).
As Emanuel Chirico, Chairman and CEO of PVH states, “We believe corporate responsibility helps strengthen our organization by managing risk, maximizing efficiencies and driving value in a rapidly changing world.” PVH continues to set goals to make positive impacts in their 40 country-community while also leading change across their business. They create an inclusive environment where everyone is valued and diversity is championed, as they work hard to preserve the environment, support communities, and empower people.
Disclosures
This commentary is provided for information purposes only and is not an offer or solicitation of an offer to buy or sell any product or service. Unless otherwise stated, all information and opinion contained in this publication were produced by Newday Funds, Inc. (“Newday”) and other sources believed by Newday to be accurate and reliable. Due to rapidly changing market conditions and the complexity of investment decisions, supplemental information and other sources may be required to make informed investment decisions based on your individual investment objectives and suitability specifications. All expressions of opinions of the financial markets, general investment strategy, or particular investments or recommendations to clients are subject to change without notice.
Investors should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Past performance does not guarantee future performance.
