The last quarter of was beyond expectations Pvh, but overall the 12 months show a slowdown. The American group that owns the brands Tommy Hilfiger e Calvin Klein closed the fiscal year 2022 with a drop in revenues of 1%, at 9.02 billion dollars (about 8.33 billion euros) after a quarter with single-digit increase in sales.
In the final three months of the fiscal year, however, the company reported a 2% increase in revenue to nearly $2.49 billion (€2.3 billion), with Tommy Hilfiger up 3% globally and 5% in North America and Calvin Klein at +3% and +4% in the domestic market. The revenues of Heritage Brands have decreased by 10%. EBIT was $297 million, including a negative $21 million impact from currency translation, compared to $223 million in the corresponding quarter 2021.
“We delivered a solid performance in the fourth quarter with higher-than-expected single-digit constant currency revenue growth and better-than-expected earnings,” comments Stefan Larsson on the sidelines of the financial results, CEO of the Stars and Stripes group.
In the new fiscal year, management expects revenue to grow 3-4% over 2022. Operating margin is expected to come in at about 10%, while earnings per share are expected to rise to about $10.