Heritage Brands news and archive

Tommy Hilfiger, Calvin Klein parent PVH projects weak outlook

PVH projects fiscal 2024 revenue to decrease 6 percent to 7 percent on current and constant exchange basis compared to 2023 , inclusive of a 2 percent reduction related to the sale of the Heritage Brands women’s intimates business and a 1 percent reduction from the 53rd week in 2023. First quarter revenue is also expected to decrease...

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PVH post Q2 revenue growth, raises EPS outlook

Second quarter revenue at PVH increased 4 percent or 2 percent in a constant currency basis to 2.207 billion dollars versus its guidance for an increase of low single-digits. Commenting on the trading update and outlook, Stefan Larsson, chief executive officer of PVH said in a statement: “We delivered another strong quarter across both Calvin...

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PVH sells Heritage Brands business to Authentic Brands Group, updates outlook

PVH Corp. has signed an agreement to sell certain intellectual property and other assets of its Heritage Brands business to Authentic Brands Group (ABG) and will exit its Heritage Brands business. The company said in a release that the cash purchase price for the transaction is approximately 220 million dollars and the transaction includes the...

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PVH posts Q1 profit, raises outlook

First quarter revenue at PVH Corp. increased 55 percent to 2.079 billion dollar and increased 46 percent on a constant currency basis compared to the prior year period. Earnings per share on a GAAP basis was 1.38 dollars compared to a loss per share of 15.37 dollars in the prior year period, while earnings per share on a non-GAAP basis were 1.92...

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PVH posts sales decline in Q4, projects positive outlook

Fourth quarter revenue at PVH Corp. decreased 20 percent or decreased 23 percent on a constant currency basis to 2.090 billion dollars compared to the prior year period. Loss per share on a GAAP basis was 81 cents compared to 93 cents in the prior year period and loss per share on a non-GAAP basis was 38 cents compared to earnings per share of...

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PVH sales drop by 33 percent, expects 25 percent decline in H2 revenues

For the second quarter, PVH Corp said that the results exceeded the company’s expectations despite continued disruption from the Covid-19 pandemic with revenue decrease of 33 percent to 1.581 billion dollars compared to the prior year period. The company’s revenue through its digital channels grew over 50 percent, with sales through its directly...

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PVH Corp to exit Heritage Brands retail business, cut 450 office jobs

PVH Corp has announced it will be closing all of its Heritage Brands outlets and cutting around 12 percent of its office workforce as it looks to streamline its operations in the region amid the coronavirus pandemic. The company, whose portfolio comprises Tommy Hilfiger, Calvin Klein and Heritage Brands, said around 450 positions would be cut...

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PVH posts Q1 loss, revenues fall 43 percent

PVH Corp. said in a statement that its business was significantly impacted by the Covid-19 pandemic during the first quarter of 2020, resulting in an unprecedented decline in revenue and earnings, including 962 million dollars of pre-tax non-cash impairment charges during the quarter. First quarter revenue decreased 43 percent to 1.344 billion...

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PVH says earnings hit by COVID-19 outbreak

Fourth quarter revenue at PVH Corp increased 5 percent or 6 percent on constant currency basis to 2.6 billion dollars compared to the prior year period. The company said in a statement that loss per share on a GAAP basis was 93 cents for the quarter compared to earnings per share of 2.09 dollars in the prior year period, while on non-GAAP basis...

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PVH posts strong revenue growth in Europe, raises outlook

Third quarter revenue at PVH Corp. increased 3 percent or 4 percent on constant currency to 2.6 billion dollars. The company’s earnings per share on a GAAP basis were 2.82 dollars compared to 3.15 dollars in the prior year period, while earnings per share on a non-GAAP basis were 3.10 dollars compared to 3.21dollars in the prior year period. For...

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PVH: Q1 GAAP earnings per share improve, revenues up 16 percent

First quarter revenue at PVH Corp increased 16 percent or 10 percent on constant currency basis to 2.3 billion dollars. Earnings per share on a GAAP basis were 2.29 dollars compared to 0.89 dollar in the prior year period. Earnings per share on a non-GAAP basis were 2.36 dollars compared to 1.65 dollars in the prior year period. Earnings before...