Interviews
News Flash
PVH Chief pleased with third quarter results
03 Dec '11
4 min read
Third Quarter Business Review:
Calvin Klein
Total revenue for the Calvin Klein business exceeded the Company's guidance, increasing 11% over the prior year's third quarter to $301.2 million. The increase reflected growth of 12% in retail comparable store sales and equally strong performance at wholesale.
Calvin Klein royalty revenue increased 8% as compared to the prior year's third quarter attributable to continued strong performance across most product categories and regions, with underwear, outerwear and women's sportswear performing particularly well and outstanding growth coming from South America and Asia, offset, in part, by weakness in the domestic jeanswear business. Foreign exchange rates had an immaterial year-over-year impact on the revenue of the Calvin Klein business.
Earnings before interest and taxes for the Calvin Klein business was $85.7 million in the third quarter, which represents an increase of 13% over the prior year's third quarter's $75.6 million. This increase was due principally to the royalty and sales increases discussed above. Within the Company's Calvin Klein apparel business, gross margin rates were down slightly, as higher product costs were partially mitigated by increases in selling prices.
Tommy Hilfiger
The Tommy Hilfiger business experienced a 17% increase in revenue to $826.6 million in the third quarter, far exceeding the top end of the Company's previous guidance. The increase over the prior year's third quarter reflects double digit growth in the European wholesale division, combined with retail comparable store sales growth of 15% in North America and 5% in Europe. In addition, year-over-year foreign exchange rate changes versus the U.S. dollar in the third quarter benefited revenue of the Tommy Hilfiger International business by approximately $25 million.
Click here to read more details
Calvin Klein
Total revenue for the Calvin Klein business exceeded the Company's guidance, increasing 11% over the prior year's third quarter to $301.2 million. The increase reflected growth of 12% in retail comparable store sales and equally strong performance at wholesale.
Calvin Klein royalty revenue increased 8% as compared to the prior year's third quarter attributable to continued strong performance across most product categories and regions, with underwear, outerwear and women's sportswear performing particularly well and outstanding growth coming from South America and Asia, offset, in part, by weakness in the domestic jeanswear business. Foreign exchange rates had an immaterial year-over-year impact on the revenue of the Calvin Klein business.
Earnings before interest and taxes for the Calvin Klein business was $85.7 million in the third quarter, which represents an increase of 13% over the prior year's third quarter's $75.6 million. This increase was due principally to the royalty and sales increases discussed above. Within the Company's Calvin Klein apparel business, gross margin rates were down slightly, as higher product costs were partially mitigated by increases in selling prices.
Tommy Hilfiger
The Tommy Hilfiger business experienced a 17% increase in revenue to $826.6 million in the third quarter, far exceeding the top end of the Company's previous guidance. The increase over the prior year's third quarter reflects double digit growth in the European wholesale division, combined with retail comparable store sales growth of 15% in North America and 5% in Europe. In addition, year-over-year foreign exchange rate changes versus the U.S. dollar in the third quarter benefited revenue of the Tommy Hilfiger International business by approximately $25 million.
Click here to read more details
Phillips-Van Heusen Corporation
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
