PVH Corp, the company holding fashion brands Calvin Klein and Tommy Hilfiger, has managed to boost both its turnover and profit in the second quarter of 2016, even trumping its own forecast.
Strong growth Calvin Klein
PVH’s second quarter turnover grew 4 % to 1.63 billion dollars (1.4 billion euro), while profit went up 4.4 % to 119.8 million dollars (105 million euro). Particularly Calvin Klein (+ 12 % to 726 million dollar) and Tommy Hilfiger (+ 6 % to 860 million dollars) performed well, but Heritage Brands’ turnover fell 14 % to 347 million dollars (310 million euro).
“Our strong performance year to date exceeded our expectations and demonstrated our ability to deliver against our 2016 plan, despite the challenging macroeconomic environment. We experienced strong momentum in our Calvin Klein and Tommy Hilfiger International businesses and have seen improvement across our North America wholesale businesses, but we continue to be pressured by weakness in traffic and consumer spending trends at our Tommy Hilfiger and Calvin Klein U.S. stores located in international tourist locations”, CEO Emanuel Chirico said.
