Asia powers Calvin Klein, Tommy Hilfiger growth

Global apparel company PVH Corp has reported an increase in revenues boosted by performance in Asia and Europe.

Revenue for the first six months of this year increased 15 per cent to US$4.6 billion compared to the prior year period. The revenue rise was largely due to a global 18 per cent increase in business for its Calvin Klein and Tommy Hilfiger brands, with the Calvin Klein brand delivering its strongest performance in Asia and Europe.

Earnings before interest and taxes for the first six months of the year increased to $476 million. The firm’s total gross profits for the period were $2.588 billion, up from $2.288 billion last year. Net income attributable to the firm was $344.6 million over $190.1 million last year.

Chairman and CEO Emanuel Chirico said: “Our better-than-expected second quarter revenue and earnings reflected continued broad-based strength across our businesses and further underscored the momentum in our global designer lifestyle brands, Calvin Klein and Tommy Hilfiger, and the power of our diversified business model.

“We are increasing our revenue and earnings guidance for the year, while continuing to take a prudent approach to planning our business in the second half of the year, as we experience increasing macroeconomic and geopolitical volatility around the world.”

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