PVH Corporation PVH reported fourth-quarter 2020 results, with the top and the bottom line falling short of the Zacks Consensus Estimate. Also, the metrics declined year over year. Continued adverse impacts of COVID-19, leading to temporary store closures, put pressure on quarterly results. Nonetheless, solid e-commerce performance aided growth. Notably, revenues in the digital channels rallied 57% year over year in the quarter under review.Q4 HighlightsPVH Corp reported adjusted loss of 38 cents per share. The metric compares unfavorably against adjusted earnings of $1.88 per share reported in the year-ago quarter. Moreover, the figure was wider than the Zacks Consensus Estimate, which was pegged at a loss of 37 cents per share.On a GAAP basis, the company reported a loss of 81 cents compared with a loss of 93 cents reported in the prior-year quarter.PVH Corp. Price, Consensus and EPS Surprise PVH Corp. price-consensus-eps-surprise-chart | PVH Corp. QuoteIn the fourth quarter, revenues declined 20% year over year to $2,089.8 million. On a constant-currency (cc) basis the metric was down 23%. We note that sluggishness in Tommy Hilfiger, Calvin Klein and Heritage Brands businesses dented the top line. Moreover, the metric missed the Zacks Consensus Estimate of $2,111.1 million.Also, direct-to-consumer revenues declined 20% year over year in the fourth quarter thanks to temporary store closures amid the pandemic. Nearly 70% and 75% of company-run stores across Europe and Canada, respectively, were shut during the quarter. Nonetheless, the company witnessed solid digital sales in the direct-to-consumer channel.Moving on, wholesale revenues fell 19% in the fourth quarter. Nevertheless, the metric includes double-digit growth in the company’s sales to online businesses of its traditional and pure play wholesale customers.The company’s total gross profit declined to $1,126.3 million from $1,397.9 million reported in the year-ago quarter. Further, selling, general and administrative expenses dropped to $1,173.7 million from $1,257.6 million posted in the prior-year quarter.Adjusted earnings before interest and taxes came in at $28 million, lower than $150 million posted in the year-ago quarter. The downside was caused by dismal top line, stemming from COVID-19 impacts.Segment AnalysisPVH Corp. reports financial results under three segments — Calvin Klein, Tommy Hilfiger and Heritage Brands.Revenues in Calvin Klein plunged 17% year over year (down 20% at cc) with Calvin Klein North America declining 25%, while Calvin Klein International fell 10%. The downtick was due to temporary store closures for most of the fourth quarter stemming from extensive lockdowns across Europe.Revenues in the Tommy Hilfiger segment declined 16% year over year (down 20% at cc) in the reported quarter. Notably, Tommy Hilfiger North America fell 28% and Tommy Hilfiger International declined 10%.The Heritage Brands segment’s revenues slumped 41% year over year during the quarter under review. This includes 17% fall in the sale of the company’s Speedo North America business.Financial DetailsPVH Corp ended the quarter with cash and cash equivalents of $1,651.4 million, long-term debt of $3,513.7 million and stockholders’ equity of $4,730.3 million.OutlookManagement anticipates revenues and earnings in 2021 to keep reflecting adverse impacts of the pandemic, especially during the first-quarter, thanks to the ongoing store closures in Europe. That said, the company projects its international businesses to surpass 2019 pre-pandemic revenue levels during the first half of 2021. However, the North America businesses are likely to remain soft in 2021 owing to sluggishness in international tourism. In an attempt to manage cost structure, management expects to cut its workforce in some international markets along with declining real estate footprint in 2021.During 2021, the company expects to achieve revenue growth of 22-24% (indicating 19-21% rise at cc) over the prior-year’s figure. Further, adjusted earnings are expected to be nearly $6.00 per share. This suggests an improvement from adjusted loss of $1.97 per share reported in 2020. During the first quarter of 2021, revenue is anticipated to grow in the range of 42-44% year over year (up 34-36% at cc). Adjusted earnings per share are expected in the range of 80-83 cents during the quarter. This indicates an improvement from a loss of $3.03 per share reported in the year-ago quarter.Price PerformanceShares of this Zacks Rank #3 (Hold) company have gained 6.6% in the past three months compared with the industry’s 2.4% growth.3 Key PicksCrocs, Inc CROX, which sports a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 15%. You can see the complete list of today’s Zacks #1 Rank stocks here.G-III Apparel Group, Ltd. GIII, which sports a Zacks Rank #1, has a long-term earnings growth rate of 11.6%.Gildan Activewear, Inc. GIL, which sports a Zacks Rank #1, has a long-term earnings growth rate of 9%.5G Revolution: 3 Stocks to Make Your MoveWith super high data speed, it will make current cell phones obsolete and unlock the full potential of big data, cloud computing, and artificial intelligence. 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