Home / Knowledge / News / Fashion / PVH Chairman pleased with first quarter results
PVH Chairman pleased with first quarter results
21
May '08
Phillips-Van Heusen Corporation reported first quarter 2008 results.

• Earnings per share was $0.90, which exceeded the Company's previous guidance and the consensus estimate.
• Current year's first quarter includes $7 million, or $0.08 per share, of start-up costs associated with new businesses. Prior year first quarter earnings per share was $0.92.
• Revenue increased 6% to $625.7 million from $591.9 million in the prior year's first quarter.

First Quarter Results:
The Calvin Klein licensing business continued its positive momentum from the prior year, driving revenue growth and partially offsetting the reduction in earnings experienced by the Company's heritage outlet retail and moderate sportswear businesses.

Total revenue and earnings growth in the Calvin Klein licensing business were 19% and 17%, respectively, compared to the prior year's first quarter. This performance was driven by continued momentum in the apparel and accessories business in Europe and Asia.

Revenue in the first quarter of 2008 increased 3% in the Company's combined wholesale and retail businesses while earnings decreased 14%. Performance in the quarter was positively impacted by the addition of the Company's IZOD women's sportswear business and the continued strong performance exhibited by the Company's dress furnishings, Calvin Klein men's better sportswear and Calvin Klein outlet retail businesses.

The Company's heritage outlet retail and moderate sportswear businesses, however, continued to be adversely affected by the difficult macroeconomic retail environment. Total outlet retail comparable store sales were slightly better than plan at minus 2%, as the Calvin Klein outlet retail business achieved comparable sales growth of 10% for the quarter and the heritage outlet retail businesses had a comparable store sales decline of 6%.


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search