Home / Knowledge / News / Apparel/Garments / PVH to increase Q4 advertising spend $10 mn
PVH to increase Q4 advertising spend $10 mn
19
Nov '09
Phillips-Van Heusen Corporation reported 2009 third quarter and year to date results.

Highlights of Third Quarter of 2009 Results:

• Earnings per share was $1.08 on a non-GAAP basis, which exceeded the high end of the Company's guidance and the consensus estimate. This improvement was fueled by stronger than expected revenue and gross margin in all businesses, as well as a shift in planned advertising expenditures of $5 million from the third quarter into the fourth quarter. The prior year's third quarter earnings per share was $1.10 on a non-GAAP basis.
• GAAP earnings per share was $1.58, which included a tax benefit of $30.4 million related to the lapse of the statute of limitations with respect to certain previously unrecognized tax positions. GAAP earnings per share in the prior year's third quarter was $1.03.
• Revenue was $697.4 million, which exceeded the high end of the Company's guidance. This amount was relatively flat to the prior year's third quarter revenue on a non-GAAP basis of $698.9 million, which excludes $28.6 million of revenue associated with the Company's exited Geoffrey Beene outlet retail division. On a GAAP basis, revenue decreased 4% from $727.5 million.

CEO Comments:
Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, “We are extremely pleased with our third quarter results. The improvement in business trends we experienced in the second quarter intensified during the third quarter and enabled us to significantly exceed our previous revenue and earnings guidance. We are fortunate to have such a strong stable of brands. The global strength of the Calvin Klein brand was evident in this quarter's 9% growth in royalty revenue. Additionally, as consumers have demanded more and more value in order to drive their purchases, our IZOD, ARROW and Van Heusen brands have likewise benefitted.”

Click here for more details.

Phillips-Van Heusen Corporation


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Suresh Patel
Sidwin Fabric

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

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

Yes No

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

Yes No

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


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



X