American clothing stalwart PVH Corp. has seen its second-quarter revenue go down by 8 per cent to clock US $ 2.1 billion.
The Group, which owns Calvin Klein and Tommy Hilfiger, posted a year-on-year (Y-o-Y) rise of 5 per cent in direct-to-consumer revenue.
The wholesale revenue and total digital revenue, during the quarter, fell by 11 per cent and 7 per cent, respectively.
The company, reportedly, continues to experience global supply chain disruptions and impacts from the pandemic – not to mention the increasingly challenging macroeconomic environment that has hit its North America wholesale business.
Brand-wise, revenue at Tommy Hilfiger fell by 5 per cent Y-o-Y, while the same at Calvin Klein dropped by 1 per cent.
Moving forward, PVH’s full year revenue outlook is expected to fall between 4 per cent and 3 per cent, compared to a rise of 1 per cent to 2 per cent previously.
Founded in 1881, PVH is one of the world’s largest and most admired fashion companies, connecting with consumers in over 40 countries.
