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: Pexels

Textiles | On 27th Apr 2018

AWEX EMI sets new all-time record; touches 1847ac per kg

In the week ending April 27, 2018, the Eastern Market Indicator (EMI) ...

Indian exporters lobby FIEO urges lifting of ban on LoUs

Textiles | On 27th Apr 2018

Indian exporters lobby FIEO urges lifting of ban on LoUs

India’s exporters lobby Federation of Indian Export Organisations...

US GSP extension restored on 22 Apr, refunds not automatic

Apparel/Garments | On 27th Apr 2018

US GSP extension restored on 22 Apr, refunds not automatic

The US generalized system of preferences (GSP) programme was restored ...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Top executives
Textile industry, India

The event should be organised every year

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

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

Rupa Sood and Sharan Apparao
Nayaab

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave 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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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