The fourth quarter revenues of US-based clothing company PVH Corporation decreased by 20 per cent to $2.090 billion and the same decreased by 28 per cent to $ 7.133 billion in full year compared to the prior year period.

As per Apparel Resources, the company’s revenue through digital channels grew 57 per cent in Q4 and 43 per cent in full year.

Stefan Larsson, CEO, said, the company delivered Q4 revenue in line with expectations despite more extensive lockdowns in Europe, as it successfully navigated the uncertainty and unprecedented impacts caused by the pandemic to drive towards an accelerated recovery.

He further added that the company will increasingly continue to shift its global business towards these channels and categories. In addition, it executed disciplined expense management, significantly improved its inventory position, and ended the year with over $3 billion in liquidity. The company expects its revenue to grow by 22 per cent in 2021.