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 May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Suresh Patel
Sidwin Fabric

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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