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The Calvin Klein and Tommy Hilfiger parent on Tuesday reported that fourth quarter revenue increased 16 percent to $2.4 billion compared to the prior year, led by rising sales at the two brands.
Full year revenue was up 28 percent from 2020 to $9.15 billion, and PVH projects 2022 revenue will increase 2 to 3 percent compared to 2021. While gross margins have expanded since 2019, sales have not yet recovered to pre-pandemic levels. In 2019, PVH Corp. reported a revenue of $9.9 billion.
Chief executive Stefan Larsson said in a statement the company was confident in its ability to drive growth, “despite the significantly increased macroeconomic and geopolitical volatility over the last few months, including the war in Ukraine, the impact of the global pandemic, and the inflationary pressures we see across regions.”
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PVH’s Stefan Larsson on Harnessing Creativity to Energise Engagement
The chief executive of the company that owns Calvin Klein and Tommy Hilfiger says creativity will be even more of a differentiator in 2022 as fashion players better align merchandise planning with demand and continue their quest for greater market share.
