PVH exceeds expectations in difficult context - insidedenim: Glo InsideDenim

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PVH exceeds expectations in difficult context

09/12/2024
In its latest financial filing, PVH Corp reported sales of $2.255 billion, decreasing 5%, which is slightly less than an expected dip of 6 to 7% compared to the same period last year. The group said the downturn of revenues was in part due to the sale of Heritage Brands, the group’s women’s intimates business, in November 2023, and to the timing of wholesale shipments from the fourth to the third quarter.

Net income for the period fell 18% from $161.6 million to 131.9 million.

The group’s sales were flat or fell in the quarter ending October 29 across all regions and retail channels. The slight increase in revenues from the Asia Pacific Region was offset by a contraction of sales in Europe, where the group is seeking to restructure its retail presence in favour of premium stores and partners.

At Tommy Hilfiger, revenues were flat outside North America where they dropped by 3%. Calvin Klein’s sales followed a same pattern, lifting 1% for Calvin Klein International, but down 9% in North America.

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China puts restrictions on PVH Corp 12/02/2025
K-Pop campaign for Calvin Klein’s new denim collection 25/09/2024
Fredrik Olsson to head PVH in Europe 09/09/2024
PVH opens up sustainability performance-based financing for suppliers 03/05/2023
PVH joins Carbios-led biorecycling project 20/02/2023

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