Home / Knowledge / News / Apparel/Garments / CK returning to more historical global growth rates - PVH
CK returning to more historical global growth rates - PVH
23
Mar '10
Phillips-Van Heusen Corporation reported 2009 fourth quarter and full year results.

The discussions in this release that refer to non-GAAP amounts exclude the items which are described in this release under the heading "Non-GAAP Exclusions." Reconciliations of GAAP to non-GAAP amounts are presented in the tables later in this release and identify and quantify all excluded items.

CEO Comments

Commenting on these results, Emanuel Chirico, Chairman and Chief Executive Officer, noted, "We are extremely pleased with our 2009 results and the strong performance across all components of our business, enabling us to exceed our previous earnings guidance. Our heritage brands delivered exceptional results in the fourth quarter, which reinforces what we know to be the strength and relevance of our brands to the consumer in the current "value-oriented" environment. The global growth momentum of the Calvin Klein brand also accelerated, and royalty revenue increased 22% in the fourth quarter."

Mr. Chirico continued, "We are positioned to have a strong year in 2010, with new programs being implemented in our wholesale businesses, a very strong start to our outlet retail business and Calvin Klein returning to more historical global growth rates. Our performance is indicative of the drive our management team has to deliver earnings and growth for the benefit of our stakeholders. We will continue to strive to achieve our goals as we embark on the unification of two of the world's largest apparel companies."

Mr. Chirico concluded, "Both the PVH and Tommy Hilfiger management teams are working hard at completing the previously announced acquisition of Tommy Hilfiger, which we expect to close in the second quarter of 2010. As we outlined when we announced the deal, the growth prospects for the combined company are strong and the businesses and cultures complementary, resulting in a company that has an attractive balance of domestic and international operations, wholesale and retail revenues, greater breadth and depth in product categories and a platform from which we expect to drive greater value for our customers and stockholders."

For the Fourth Quarter of 2009:

• Earnings per share was $0.61 on a non-GAAP basis, which exceeded the Company's earnings guidance and the consensus estimate. Earnings per share in the prior year's fourth quarter was $0.30 on a non-GAAP basis.
• GAAP earnings per share was $0.51, which compares to a GAAP loss per share of $(0.74) in the prior year's fourth quarter.
• Revenue was $614.6 million, or an increase of 9% compared to the prior year's fourth quarter revenue on a non-GAAP basis of $561.3 million. On a GAAP basis, revenue increased 6% from $577.8 million.

Click here for more details.

Phillips-Van Heusen Corporation


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

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Suresh Patel
Sidwin Fabric

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sanjukta Dutta
Sanjukta's Studio

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

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