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The American apparel company PVH Corp, which owns Calvin Klein and Tommy Hilfiger, reported first quarter revenue increased 55 percent compared to the prior year to $2.07 billion, exceeding guidance. Calvin Klein saw a 65 percent increase compared to the prior year period, while Tommy Hilfiger saw a 63 percent increase.
As the pandemic saw a shift towards e-commerce growth, PVH Corp saw revenue through digital channels grow by approximately 95 percent. Directly-operated digital e-commerce sales were up 66 percent compared to the prior year period, due to, in part, lockdown-prompted store closures, especially in Europe. International business revenue also exceeded 2019 pre-pandemic levels.
Despite expecting continued impact by the pandemic, the company have raised its full-year outlook. “We are confident in our ability to drive towards an accelerated recovery in a way that positions PVH closer to the consumer than any time before,” said Stefan Larsson, chief executive, in a statement on Wednesday.
PVH Corp also announced the departure of two senior leadership members, Mike Shaffer, chief operating and financial officer, and Cheryl Abel-Hodges, chief executive of Calvin Klein.
Shaffer will be leaving in September, a replacement is yet to be announced. Abel-Hodges will be transitioning to an advisory position effective from July 1 through February 2022. Trish Donnelly, chief executive of PVH Americas, will take full global leadership responsibility after previously overseeing Calvin Klein.
