Featured News

PVH Reports Record Revenue
of Nearly $9.7 Billion for FY2018

March 28, 2019

PVH Corp. closed the books on 2018’s fourth quarter and full fiscal year on an optimistic note, with Chairman and CEO Manny Chirico saying the company is well positioned to continue its successful execution against its strategic priorities. The company reported full-year revenue of $9.66 billion.

Revenues for the fourth quarter were $1.2 billion, an increase of 2 percent YoY. For the year, Tommy Hilfiger posted revenue of $4.3 billion, growth of 12 percent.

“We believe that these results are truly spectacular, and demonstrate the incredible makeup of our organization that encompasses our powerful brands, our talented teams and our wide range of global growth opportunities,” said Chirico.

Chirico held his quarterly call with investors on March 28, 2019, providing details of FY18’s record-setting revenue, an increase of 8 percent compared to FY 2017. The Tommy Hilfiger business continued its on-fire growth and Calvin Klein saw the benefits of a course correction during the all-important fourth quarter – beating revised expectations.

He attributed much of the overall company success to PVH’s diversified business model. Chirico heralded a strong holiday season around the globe, although some softness in consumer sentiment has crept in, especially in North America and China, early into this year.

“During 2018, we focused on adapting to the changing consumer landscape and geopolitical realities, while taking swift action to address the challenges in our Calvin Klein business. Additionally, we focused on investing in our talent, supply chain, consumer data and insights, and digital capabilities, which we believe positions our businesses for long-term stockholder value creation,” Chirico said.

He noted that PVH’s digital businesses continued to outperform, with reported online revenues breaking the $1 billion mark. Chirico called attention to collaborations globally with pure-play digital commerce retailers.

Brand-specific results for the fourth quarter and the fiscal year include:

Calvin Klein:

“We believe that our marketing campaigns, products and global activations are sparking cultural conversations about us, and we have seen a notable increase in Calvin Klein’s relevancy and consideration to purchase from consumers over the past few months.”

Revenues for the fourth quarter were $953 million, which was down 2% year-over-year. For the year, Calvin Klein posted revenue of $3.7 billion, growth of 8 percent. 

Tommy Hilfiger:

“Tommy Hilfiger experienced a phenomenal fourth quarter and full year demonstrating broad-based momentum, with strength across all product lines, regions and channels of distribution. This has been fueled by strong product offerings and consistent brand execution around the world, which we believe is driving our results,” said Chirico.

Revenues for the fourth quarter were $1.2 billion, an increase of 2 percent YoY. For the year, Tommy Hilfiger posted revenue of $4.3 billion, growth of 12 percent.

Heritage Brands:

“As we look ahead, we see opportunities for our Heritage Brands business, as we gain market share as we develop new products that contain innovative technologies and leverage our supply chain to produce further efficiencies. We will also continue to evaluate ways to optimize our portfolio in order to generate enhanced returns and cash flow,” said Chirico.

Revenues for the fourth quarter were $363 million, a decrease of 5 percent YoY. For the year, the Heritage Brands business posted revenue of $1.6 billion, growth of 1 percent.