The Q1, FY24 revenues of US-based PVH Corporation, parent company of globally recognised brands such as Tommy Hilfiger and Calvin Klein, decreased by 10 per cent to $1.952 billion from $2.158 billion revenue reported during the same period last year.

Of this, the revenues of the brand Tommy Hilfiger decreased by 10 per cent compared to the prior year period. The brand’s revenues from international operations fell by 14 per cent with revenues from Europe declining. In contrast, Tommy Hilfiger’s revenues from North America increased by 2 per cent.

On the other hand, the revenues of Calvin Klein remained flat compared to the prior year period but increased by 1 per cent on a constant currency basis. The brand’s international revenues declined by 2 per cent while revenues from North America increased by 4 per cent.

Further, PVH Corp reported a significant 65 per cent decline in revenues from Heritage Brands including a 47 per cent decline resulting from the sale of the Heritage Brands women's intimates business.

PVH Corporation’s earnings before interest and taxes (EBIT) increased to $205 million on a GAAP basis and $195 million on a non-GAAP basis, compared to $199 million in the prior year period. On a GAAP basis, its EPS increased to $2.59 from $2.14 in the prior year period. On a non-GAAP basis, EPS rose to $2.45, compared to $2.14 in the prior year period.

Besides strengthening its brand positioning and pricing power in the marketplace, PVH Corp generated growth for Calvin Klein and Tommy Hilfiger combined in both North America and Asia Pacific in constant currency, while successfully driving strategic quality of sales initiatives in Europe, says Stefan Larsson, CEO.