For the third quarter PVH Corp’s revenue rose 2.5 per cent. PVH raised its full-year adjusted profit forecast after its third quarter results beat expectations, powered by higher demand for its Calvin Klein and Tommy Hilfiger apparel in Europe. The company has been trying to attract millennial shoppers by sponsoring social media influencers including Bella Hadid, singer Billie Eilish and British F1 racer Lewis Hamilton to promote its brands. Sales at Tommy Hilfiger, its biggest revenue generator, jumped about ten per cent. Calvin Klein, which is recovering from the fashion missteps it made last year, saw sales rise marginally.
PVH’s business is strongly anchored in the US, where in 2018 it generated 46 per cent of its sales. The group is reorganising itself in the US market. Tommy Hilfiger has been working to boost its appeal in China, engineering double-digit growth in the country in 2018. Asia accounts for 12 per cent of the group’s sales. The group has cut the share of its production that comes from China to the US market. Three or four years ago, about 35 per cent of its production for the US was coming out of China. For next year, it is looking at something that’s closer to ten per cent.