Warnaco’s purchase boosted turnover
Warnaco’s purchase, dating back
to February, was essential to this
turnover growth: Iit brought in 503 million dollars (365 million euro) on
its own. However, PVH does expect a rather tough ride this holiday season: “Despite
our better than expected third quarter results, we believe the current holiday
season will be very competitive and highly promotional,” chairman and CEO
Emanuel Chirico stated.
PVH is powered by several large
brands, as it is a licence holder for Tommy Hilfiger, Calvin Klein and Speedo.
Tommy Hilfiger’s turnover grew 10 % and its like-for-like turnover grew 3 % in
North America and even 4 % in Europe. Warnaco’s purchase, licence holder to
Calvin Klein underwear and jeans, doubled that brand’s turnover to 800 million
dollars (580 million euro).
Next quarter’s expectations for PVH are to create a 1.4 dollar profit per share, while expectations all around
were to get 1.53 dollar per share.
(Translated by Gary Peeters)
