PVH Corp., the parent company of Calvin Klein and Tommy Hilfiger, reported third-quarter revenue of US $ 2.26 billion, slightly exceeding expectations despite a 5 per cent year-over-year decline. The result surpassed prior estimates, which projected a 6–7 per cent drop in revenue for the quarter.
The company’s flagship brands, Calvin Klein and Tommy Hilfiger, continue to undergo turnaround efforts but saw declines in revenue during the period. Net income fell 18.4 per cent to US $ 131.9 million, compared to US $ 161.6 million in the same period last year.
PVH’s international revenue remained flat, with growth in Asia offset by strategic reductions in European sales. The company has faced challenges in the Asian market recently but remains focused on strengthening its global presence.
Maintaining its earlier full-year guidance, PVH expects a 6–7 per cent decline in annual revenue. However, the company reduced its earnings per share forecast, leading to a nearly 7 per cent drop in shares during after-hours trading on Wednesday.
Despite current challenges, PVH remains committed to its long-term brand revitalization strategies.
