PVH Reports 3% Sales Decline as Calvin Klein Slumps

PVH Corp. reported a 3% decline in second-quarter sales to $2.097 billion, with a sharp drop in Calvin Klein revenue weighing on the results. Calvin Klein sales fell 7%, partly due to the timing of wholesale shipments in the Americas, while Tommy Hilfiger sales remained steady.

By region, revenue declined 6% in EMEA amid weak consumer demand and the broader economic impact of the Middle East conflict. Americas sales fell 1%, while APAC was the only region to record growth, with revenue rising 3%. The company reported a net loss of $102.9 million, compared with net income of $224.2 million a year earlier.

CEO Stefan Larsson said PVH continued to see momentum in its direct-to-consumer and e-commerce businesses, with new campaigns featuring Tate McRae for Calvin Klein and Travis Kelce for Tommy Hilfiger receiving positive consumer responses. PVH reaffirmed its full-year outlook for approximately flat reported revenue, saying it expects to recover the sales losses during the remainder of the year.

Pic Courtesy: google/ images are subject to copyright