American clothier PVH Corp. has announced its fourth quarter and full year results. The company noted 7 per cent surge in the reporting quarter compared to the prior year’s fourth quarter revenue of US $ 2.07 billion. Its brands like Calvin Klein reported 21 per cent surge in revenue; Tommy Hilfiger posted 5 per cent zoom on a constant currency basis; however, the revenue decreased 10 per cent in the Heritage Brands business on GAAP basis, driven by the exit from the Izod retail business in the fourth quarter.
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In full year 2015, revenue rose 4 per cent on a constant currency basis (dived 3 per cent on a GAAP basis) as against US $ 8.24 billion in the previous year. GAAP earnings per share at PVH Corp. was US $ 6.89 versus US $ 5.27 in the prior year, the company release mentions.
Commenting on the results, Emanuel Chirico, Chairman and CEO of the company said, “We are very pleased with our fourth quarter and full year 2015 results, which exceeded our expectations despite the difficult macroeconomic environment and the highly promotional retail market in the US.” Adding further, “While the global retail landscape continues to be uncertain with major foreign currencies largely weakening against the US dollar and unpredictable and volatile global consumer spending, we believe that we can successfully navigate this environment and have taken a prudent approach to our 2016 plan.”
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