Home / Knowledge / News / Apparel/Garments / Calvin Klein & Tommy Hilfiger drive Q1 sales at PVH
Calvin Klein & Tommy Hilfiger drive Q1 sales at PVH
24
May '12
PVH Corp. reported 2012 first quarter results.

Overview of First Quarter Results:
Earnings per share were $1.30 on a non-GAAP basis, which exceeded the Company's guidance and represents an increase of 6% over the prior year's first quarter non-GAAP earnings per share of $1.23.

GAAP earnings per share were $1.27 and represent an increase of 61% over the prior year's first quarter GAAP earnings per share of $0.79.

Revenue of $1.427 billion increased 4% from the prior year's first quarter, including the negative impact of approximately 1% attributable to approximately $20 million of foreign currency translation. The revenue increase of $58.2 million is attributable to the net effect of
(i) an increase of $54.9 million, or 8%, in the Company's Tommy Hilfiger business (which includes the negative impact of approximately 3% attributable to the foreign currency translation discussed above);
(ii) an increase of $16.5 million, or 7%, in the Company's Calvin Klein business; and
(iii) a decrease of $13.2 million, or 3%, in the Company's Heritage Brands business.

CEO Comments:
Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, “We are very pleased with our first quarter results, which were driven by our global Calvin Klein and Tommy Hilfiger businesses.

“Both of these brands continued to demonstrate their worldwide consumer appeal during the first quarter, allowing us to perform above our expectations for both revenue and earnings per share, despite the cost pressures and economic headwinds in Europe that have impacted our industry.

“Although the macroeconomic environment in both the U.S. and Europe remains uncertain, the continued momentum in these businesses has enabled us to increase our full year earnings guidance. We believe that the impact of the product cost increases that have negatively affected our industry will abate in the second half of 2012, which will have a positive impact on all of our businesses.”

Mr. Chirico continued, “We are excited about the continued execution of our growth strategies for our brands, particularly Calvin Klein and Tommy Hilfiger, as we expand our global footprint. Our new Tommy Hilfiger joint ventures in the high growth markets of India and China performed very well during the first quarter.

"We continue to eagerly anticipate bringing the Tommy Hilfiger European men's tailored apparel and ck Calvin Klein European apparel and accessories businesses in-house in 2013.

“We look forward to unlocking the potential that these initiatives present and we will continue to drive global sales by working diligently to identify additional growth opportunities for these two power brands.”

Mr. Chirico further commented, “As we head into the second quarter, we are optimistic that the strength of our brands and the sound execution of our business strategies, along withour strong balance sheet, will continue to drive long-term growth and improvements in our financial metrics and business returns in 2012 and beyond.”

Click here to read more details:

PVH Corp


Must ReadView All

Courtesy: Business wire

Textiles | On 28th Jul 2017

Taiwan launches new products at Outdoor Retailer show

The Taiwan External Trade Development Council (TAITRA) hosted the...

Textiles | On 28th Jul 2017

Clariant, Huntsman present update on planned merger

Clariant and Huntsman Corporation have presented a first update on...

Fashion | On 28th Jul 2017

Kering’s first half consolidated revenue up 28.2%

Kering has announced a consolidated revenue of €7,296.2 million for...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X