PVH Chairman pleased with first quarter results

26 May '10

4 min read

Mr. Chirico continued, "We completed the acquisition of Tommy Hilfiger on May 6, 2010, and are very excited about our growth prospects as a combined company. The Tommy Hilfiger business is performing well both in North America and internationally and similarly in the wholesale and retail components. We are acting quickly to align the two organizations and are focused on realizing the opportunities we envisioned when we embarked on this transaction. We are comfortable that the combined company will generate substantial cash flow, allowing us to delever our balance sheet while continuing to invest in our brands and businesses."

Mr. Chirico concluded, "This transaction has created a global powerhouse with two of the most recognized global designer brands in Calvin Klein and Tommy Hilfiger, coupled with PVH's stable of strong nationally recognized consumer brands. This extended brand portfolio and operating platform creates unique growth opportunities across additional geographies and product categories, which we are positioned to capitalize upon to drive future revenue and earnings growth as well as strong returns to our stockholders."

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