PVH FY19 revenue grows 3% to $9.9 billion

02 Apr '20

2 min read

Pic: PVH/ Calvin Klein

PVH Corp, a US-based global apparel companies, has reported 3 per cent revenue growth to $9.9 billion in full fiscal 2019 ended on February 2, 2020 compared to revenue of $9.6 billion in prior year. Net income in the year were $415.1 million (FY18: $744.6 million). Gross profit on net sales were $4,879.4 million compared to $4,805.7 million in prior year.

“PVH ended the year with a strong holiday season and increasing momentum across Tommy Hilfiger and Calvin Klein in the majority of the regions where we operate,” Emanuel Chirico, chairman and chief executive officer, said in a press release.

Selling, general and administrative (SG&A) expenses in the year were $4,715.2 million.

Tommy Hilfiger segment revenue over the year rose to $4.7 billion (FY18: $4.3 billion). Calvin Klein segment revenue dropped to $3.6 billion (FY18: $3.7 billion). Heritage Brands revenue stood flat at $1.5 billion.

The company reported that the Covid-19 pandemic is having a significant impact on the its business, results of operations, financial condition and cash flows in 2020. “I believe that we are in a solid financial position to navigate the Covid-19 outbreak and this period of unprecedented volatility,” Chirico said.

“While the outbreak is highly dynamic and continues to unfold, my confidence in the power of PVH and our ability to navigate this crisis is unwavering,” Chirico said.

Fibre2Fashion News Desk (JL)

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