Revenue in the Calvin Klein business for the quarter increased 5 per cent to $756 million compared to the prior year period. Similarly, there was also a 6 per cent rise to $842 million in the revenue of Tommy Hilfiger business.
"We continue to experience strong momentum in our Calvin Klein and Tommy Hilfiger businesses, which allowed us to exceed both our sales and earnings guidance for the first quarter despite the volatile macroeconomic environment and the highly promotional retail market in the US," said Emanuel Chirico, chairman and chief executive officer.
"Our first quarter performance underscored the power of our diversified business model and the strength in our international businesses. We believe that our brands, led by Calvin Klein and Tommy Hilfiger, continue to resonate with consumers and are gaining market share against our competition. As the global retail environment shifts, we continue to focus on adapting to change, while investing in our brands and operating platforms to capitalize on the opportunities for each of our businesses," said Chirico.
"We are pleased to increase our earnings guidance for the year despite the volatility that continues to persist in the macroeconomic environment. We expect that our best-in-class management teams, together with our proven business model, will continue to drive the execution of our strategic initiatives in an ever-changing environment. We believe the investments we have made and continue to make in our business will deliver long-term sustainable growth and stockholder value," Chirico concluded. (RR)
Fibre2Fashion News Desk – India
Textiles | On 23rd May 2022
US President Joe Biden along with a dozen initial partners—India,...
UK and Mexico have launched negotiations on a new UK-Mexico Free...
UAE federal export credit agency Etihad Credit Insurance (ECI)...
Textile Industry Head honchos
Marry with brand ethos
Liquidity is a primary issue in Indian context
Multi-functional garments will be next big thing
Shivaani Jain
Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...
Hugo De Boon & Koen Meerkerk
Using discarded mangoes that are no longer consumable and usually have...
Andrea Pelissero
Located near Milan, Italy, and with 50 years of experience in the textile...
Ingo Soller TWE Group
The TWE Group is one of the leading global players in the nonwovens...
Brad Holschuh Wearable Technology Lab, University of Minnesota
A new study led by researchers at the University of Minnesota's Design of...
Shujaul Rehman Garware Technical Fibres
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
Gauri Verma Label - The Jodi Life
THE JODI LIFE is an Indian fashion label that creates ready-to-wear for...
Reynu Taandon Label Reynu Taandon + Nikhita
Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...
Frederick Anderson Brand - Frederick Anderson
New York-based designer Frederick Anderson has been in the fashion...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
By submitting you confirm you have read our Terms & Conditions and Privacy Policy.