In global fashion news, PVH Corp., parent company of fashion apparel brands like Calvin Klein and Tommy Hilfiger, suffered a 5 per cent drop to US $ 2.37 billion in its Q4 sales. The company’s full year sales also dropped by 6 per cent to US $ 8.65 billion in 2024. Despite the sales drop, the company has projected a positive and better-than-2024 outlook for the next set of quarters.
The projections for 2025 excludes constant currency fluctuations and exceeds the analyst expectations of a 0.5 per cent revenue drop for the previous year. Back in December, CEO Stefan Larsson had projected a “modest growth” for 2025.
According to the present outlook, growth in the apparel retail sector will be conservatively flat to modestly positive. This change comes after a period of erratic sales, which were tempered by a downturn in revenue starting in February after a great holiday performance and a robust start to the year.
Larson also said that the dwindling consumer confidence in the United States and Canada, especially when it comes to the apparel industry, were the reasons for the erratic results.
In contrast to the average analyst expectation, PVH projects sales for the current quarter to either stay unchanged or decrease by 1 per cent on a constant currency basis.
