Tommy Hilfiger & CK continue to outperform globally, PVH
01 Sep '11
4 min read
Mr. Chirico continued, "Strengthening our balance sheet continues to be one of our top areas of focus. During the second quarter, we made payments of approximately $100 million, for a total of almost $500 million in debt payments since the Tommy Hilfiger acquisition. We currently plan to make approximately $200 million in additional debt payments during the remainder of 2011."
Mr. Chirico concluded, "Despite the uncertainty that has been impacting the overall market environment, we are optimistic that the strength of our brands, led by Calvin Klein and Tommy Hilfiger, will continue to generate solid revenue and profitability increases. We are entering the fall selling season poised for this growth, as we maintain our disciplined approach to dealing with the volatile market conditions, as well as product cost increases that have been impacting our industry, through product sourcing and investments in product design, strategic retail price increases, and prudent inventory and logistics planning. We remain firm in our belief that the sound execution of our business strategies, investment in our world class brands and concentration on a strong balance sheet will continue to drive our long-term growth."
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