PVH Corp., one of the world's largest apparel companies with $8.2 billion in 2013 revenues, owns and markets a diversified portfolio of iconic designer lifestyle apparel brands, led by Calvin Klein and Tommy Hilfiger, which together represent over 85%1 of our operating profits and are expected to continue to drive future revenue and profitability growth. We are also the world's largest shirt and neckwear company, and through our Heritage Brands division, we design, source and market a varied selection of prominent brand label dress shirts, neckwear, sportswear, footwear, swimwear and intimates and license our owned heritage brands for an assortment of products.
Although the global consumer environment remains tenuous, we are continually working to strengthen our businesses, and set out the groundwork to enhance and expand our brands globally. With control over Calvin Klein's two largest apparel categories, jeanswear and underwear, and expanded operating platforms in Asia and Latin America, we are optimistic about the opportunities to enhance our offerings and improve and expand the global distribution for our two designer lifestyle brands, Calvin Klein and Tommy Hilfiger. We believe that the strategic initiatives and plans that we have implemented for all our businesses will enable us to achieve significant increases in revenue and profitability over the long-term. While we expect muted revenue growth in 2014, we will continue to reinvest profits in the acquired businesses and we are optimistic about our long-term prospects, with revenue growth expected to accelerate in 2015. The opportunity that we identified from the acquisition remains significant and we intend to continue to repay debt of at least $400 million annually, realizing interest savings, which we intend to reinvest in our high-growth Calvin Klein and Tommy Hilfiger businesses. We believe that we have the people, brands, partners and financial strength necessary to develop the strategies and implement action plans that can accelerate the growth of our business in the future and turn that potential into positive financial returns for our stockholders.
Email us at firstname.lastname@example.org
||16:06PM ET, 8.29.14
Investor Email Alerts
Alerts Sign up to receive PVH financial information by e-mail: