×
263
Fashion Jobs
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TAKSHAKA INTERIORS
Req. Production Manager/Executive -Wood Furniture
Permanent · Gurugram
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
SKYNET OUTSOURCING SERVICES
Production Manager Api Industries-Bharuch,Ankelshwar Location
Permanent · Bharuch
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · National Capital Region
NIKE
Senior Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
RANDSTAD
Area Sales Manager
Permanent · Gurugram
3F INDUSTRIES
Technologist/Production Manager For Our Amino Acid Plant
Permanent · Chennai
3F INDUSTRIES
Chemical Technologist/Production Manager For Our (Cbg) Plant
Permanent · Chennai
NEWGEN
Sales Manager (South India)
Permanent · Chennai
JOBSGURU CONSULTANT
Production Manager Outsourcing - Mumbai
Permanent · Mumbai
PEOPLE ALLIANCE WORKFORCE
Asst. Manager Quality/Quality Line Officer/qa & qc- Garments Industry
Permanent · National Capital Region
DR LAL PATHLABS
Area Sales Manager : Corporate Sales l dr Lal Pathlabs
Permanent · National Capital Region
TIME TECHNOPLAST
Regional Manager
Permanent · National Capital Region
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
RRD
Associate Production Manager
Permanent · Chennai
GOKALDAS EXPORTS
Asst Manager - Production Planning (Apparel / Garment Background)
Permanent · Bengaluru
By
Reuters
Published
Nov 30, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

PVH falls short of revenue estimates on softness in Calvin Klein

By
Reuters
Published
Nov 30, 2018

Apparel maker PVH Corp reported quarterly revenue on Thursday that missed Wall Street estimates for the first time in at least two years, due to weakness in its Calvin Klein business, sending its shares down nearly 8 percent after-hours.


Weaknesses in the Calvin Klein brand undermined PVH's latest quarterly performance - Instagram: @calvinklein


Calvin Klein, PVH’s second biggest segment in sales after Tommy Hilfiger, relaunched and rebranded its jeans collection bringing a younger feel and a stronger assortment to stores.

Its most recent relaunch – Calvin Klein 205W39NYC – includes ready-to-wear luxury clothing such as oversized sweaters, tie-dyed dresses and plaid trousers.

“We are disappointed by the lack of return on our investments in our Calvin Klein 205W39NYC halo business,” said PVH’s Chief Executive Officer Emanuel Chirico.

Chrico said that some of the relaunched Calvin Klein Jeans “was too elevated” and did not sell as well as planned.

Several retailers, including more affordable brands like Urban Outfitters Inc  and Gap Inc, have launched apparel with styles from the 1990s and boosted their social media presence to attract millennials, their target shoppers.

PVH has also roped in millennial-favorite influencers such as singer Justin Beiber and has collaborated with Amazon.com Inc to set up pop-up stores where shoppers can try their jeans and order them on the online retailer’s app.

Despite its efforts, Calvin Klein’s third-quarter earnings, before taxes and interest, fell to $121 million, from $142 million a year earlier, mainly due to an increase in creative and marketing expenditures.

“We believe they (Calvin Klein) didn’t get the mix right in some places such as Macy’s and Amazon, the product might have been too fashion forward...I imagine that will be rectified,” said Jessica Ramirez, a retail analyst with Jane Hali & Associates.

Ramirez said it might have been a hiccup.

“Because it is a relaunch, they are still trying to get it right,” she said.

On the brighter side, PVH’s Tommy Hilfiger, which is banking on retro and streetwear trends, posted a 11 percent rise in quarterly revenue.

PVH raised its full year outlook going into the holiday quarter and now expects adjusted profit between $9.33 to $9.35 per share. It had previously forecast profit of $9.20 to $9.25 per share.

Excluding items, PVH earned $3.21 per share, topping the average estimate of $3.14, according to IBES data from Refinitiv.

Net income attributable to the New York-based company rose 1.6 percent to $243.1 million, or $3.15 per share.

Total revenue rose 7 percent to $2.52 billion, but fell short of analysts’ estimate of $2.53 billion.

© Thomson Reuters 2023 All rights reserved.