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The American company, owner of the Tommy Hilfiger and Calvin Klein fashion brands, which was badly hit by the containment measures, unveiled lower than expected quarterly results.
In the first quarter of its fiscal year, PVH Group posted a net loss of $1.1 billion, a decrease of $15.37 per share.
A year earlier the group reported net income of $82 million, an increase of $1.08 per share.
Excluding non-recurring items, the net loss was $3.03 per share. Sales fell by 43 per cent to $1.34 billion.
A debacle for the group, which had not expected such low results. Indeed, analysts expected a loss per share, excluding exceptional items, of $1.56 and sales of $1.36 billion.
PVH states that it had to close the majority of its points of sale internationally due to the Covid-19 pandemic and the containment context. The group now expects to see more than 85% of its points of sale reopen by mid-June.
With the apparel sector having been one of the hardest hit by the pandemic, the PHV Group is preparing for an even greater drop in sales in the second quarter.
Read also > MULBERRY, MARC JACOBS: THE LUXURY INDUSTRY IS LAYING OFF STAFF BECAUSE OF CORONAVIRUS
Featured photo : © Calvin Klein[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
The American company, owner of the Tommy Hilfiger and Calvin Klein fashion brands, which was badly hit by the containment measures, unveiled lower than expected quarterly results.
In the first quarter of its fiscal year, PVH Group posted a net loss of $1.1 billion, a decrease of $15.37 per share.
A year earlier the group reported net income of $82 million, an increase of $1.08 per share. […][/vc_column_text][vc_cta h2=”This article is for subscribers only.” h2_font_container=”font_size:16″ h2_use_theme_fonts=”yes” h4=”Subscribe now!” h4_font_container=”font_size:32|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE!” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fabonnements-et-newsletter-2%2F|||”]Unlimited access to all the articles and live a new reading experience, preview contents, exclusive newsletters…
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[/vc_cta][vc_column_text]Featured photo : © Calvin Klein[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”customer”][vc_column][vc_column_text]
The American company, owner of the Tommy Hilfiger and Calvin Klein fashion brands, which was badly hit by the containment measures, unveiled lower than expected quarterly results.
In the first quarter of its fiscal year, PVH Group posted a net loss of $1.1 billion, a decrease of $15.37 per share.
A year earlier the group reported net income of $82 million, an increase of $1.08 per share. […][/vc_column_text][vc_cta h2=”This article is for subscribers only.” h2_font_container=”font_size:16″ h2_use_theme_fonts=”yes” h4=”Subscribe now!” h4_font_container=”font_size:32|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE!” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fabonnements-et-newsletter-2%2F|||”]Unlimited access to all the articles and live a new reading experience, preview contents, exclusive newsletters…
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[/vc_cta][vc_column_text]Featured photo : © Calvin Klein[/vc_column_text][/vc_column][/vc_row]
