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PVH Q2: Revenue -33%, Loss of $51.7 Million

(Filed Under wholesale Lingerie News). PVH second quarter revenue decreased 33% to $1.581 billion, as the company reported a net loss of $51.7 million. Last year the company made $193.1 million on revenue of $2.249 billion in the three months ended August 4, 2019.

In the conference call with analysts to discuss the quarter, president Stefan Larsson revealed, “we continue to experience strong performance in casual core essentials, within underwear, loungewear and athleisure. We saw favorable pricing power in underwear and we’re chasing inventories to be best positioned to capture demand in the second half.” Later he again emphasized, “we see strong demand and a strong recovery in underwear, the big casual, essential product categories.”

CEO Manny Chirico was asked by an analyst to compare how Calvin Klein and Tommy Hilfiger were doing in North America during the pandemic. “Well, I think we don’t see much of a difference I guess I would say, and I think, if you think about it, Calvin has a tremendous, as you know, intimate underwear business, loungewear business, that just drives off of this and it also has a big performance component to it, and a big jeans business that really plays into the casual utilization. But Tommy is probably, as a brand, much more of a casual brand, much more of an active brand.” He added that “both brands I think are in a strong position.”

Although PVH is also home to such intimates brands as Olga and Warner’s and True&Co., those names were not mentioned during the conference call or in the press release describing the quarter. By far the most important labels for the company are Calvien Klein and Tommy Hilfiger, which together “represent approximately 85% of our revenues and are expected to continue to drive future revenue and profitability growth” according to the PVH website. — NM

more wholesale Lingerie News >>

Published 09-22-2020 by Nick Monjo

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