PVH Group Net Profit Fell 11.4% In The Second Quarter.

Recently, the second quarter of fiscal year 2016, data from the United States

Retail group

Two major companies

Clavin Klein and Tommy Hilfiger represent a good overall performance.

In the second quarter ending July 31st, some of the financial data of PVH group are as follows:

Net profit fell 11.4%, to $90 million 500 thousand, after diluted earnings of $1.11 per share.

Adjusted earnings per share were $1.47, higher than analysts' estimated $1.27 per share.

Sales increased by 3.7% over the same period last year, to US $1 billion 930 million, a year-on-year increase of 5% over the fixed exchange rate.

The performance of Clavin Klein in the second quarter is as follows:

Thanks to the strong performance of wholesale business in North America, global sales increased by 12% over the same period last year, reaching US $726 million.

Retail channel sales grew moderately to a year-on-year.

The sales volume in North America increased by 11% compared with the same period last year under the promotion of wholesale business, which was 398 million US dollars. While the expansion of retail outlets, the number of international tourists and shops in North American tourist attractions declined, leading to a decline of 4% in the same store sales of brand outlets.

Sales in the international market increased by 13% compared to the same period last year, to US $328 million, which increased by 11% compared to that of the stores.

EBITDA (profit before interest tax depreciation and amortization) increased from $81 million in the same period last year to $106 million.

Chirico said it was very satisfied with its performance in the first half of the year, and will continue to invest in its business in the future. The promotion and business measures in the second half of the year include:

Appoint famous designer Raf Simons to be the creative director of Clavin Klein.

His first series of products will be released early next year.

Continue to develop e-commerce business

Launch a capsule series with supermodel Gigi Hadid.

Tommy Hilfiger promotion activities for women's wear series in autumn

The PVH Group expects performance in fiscal year 2016 as follows:

Adjusted earnings per share will be between $6.55 and $6.65, up from the previous 6.45 to 6.55 US dollars, lower than the 7.05 US $2015 in fiscal year 2015.

Unfavorable exchange rate changes are expected to reduce profits by $1.6 per share.

Sales are expected to increase by 2%. Sales of Clavin Klein and Tommy Hilfiger are expected to increase by 5% over the same period last year, but sales in the traditional clothing sector are expected to fall by 8% over the same period.

"We expect that the global economic and political environment will continue to be unstable and continue to affect consumers' desire to shop," Chirico said.

But we will be able to implement the previously formulated strategic plan in such an unstable environment.

The performance of Tommy Hilfiger in the second quarter is as follows:

Global sales increased by 6% over the same period last year, reaching US $860 million.

Sales in North America increased 3%, to $407 million.

The sales of comparable stores decreased by 7% over the same period last year.

International sales increased by 10% compared to the same period last year, to US $453 million, of which the European region showed a strong performance, which was 8% higher than that of the store sales.

EBITDA was $76 million, a decrease of $22 million compared to the same period last year.

Emanuel Klein, chairman and chairman of PVH group CEO, said: "Clavin Klein and Tommy Hilfiger are excellent in the international market, and the wholesale business in North America is also improving."

However, as the number and consumption of tourists are declining, they have a certain impact on the stores of major tourist attractions in North America. "

The performance of PVH group's traditional Heritage Brands continued its decline in the first quarter, and sales fell 14% to 357 million US dollars over the same period last year.

It is mainly affected by the divestiture of its Izod retail business and the decline of its department stores.

The impact of these negative factors is expected to continue until the end of fiscal year 2016.