PVH Corp. has reported 3% surge in revenue in the third quarter of the current fiscal year on a constant currency basis (decreased 3% on a GAAP basis to US $ 2.16 billion) compared to revenue of US $ 2.23 billion in the corresponding period last year. As compared to the prior year’s third quarter, Calvin Klein noted 7% increase in revenue on a constant currency basis (was flat on a GAAP basis); Tommy Hilfiger reported 4% increase on a constant currency basis (decreased 5% on a GAAP basis); and Heritage Brands noticed 5% plunge in earnings on a GAAP basis.
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Emanuel Chirico, Chairman and CEO of PVH Corp. said, “We are very pleased with our third quarter results, which exceeded our expectations despite the difficult and volatile market environment, including the slowdown in traffic experienced in the US during the quarter. Our results continued to highlight the strength of our Calvin Klein and Tommy Hilfiger International businesses and improving trends in our Heritage Brands business. The US market during the second half of the quarter and currently in the fourth quarter continues to experience increased softness in traffic trends, in large part driven by the decline in international tourist traffic and spending trends coupled with unseasonably warm weather.”
Revenue in the fourth quarter of 2015 is currently projected to increase by around 5% on a constant currency basis (remain flat on a GAAP basis) compared to the prior year’s fourth quarter.
PVH Corp. a US-based clothing company which owns brands like Tommy Hilfiger, Calvin Klein, IZOD, and Arrow.
