Overseas sales carried out by Calvin Klein (right, in the picture) and Tommy Hilfiger have been driving PVH group, whose business goes better than expected and prospective profits are due to go up over the year; earnings are bound to decline though. In the first quarter of the financial year (February-April), the revenues of PVH amounted to 2,314 billion dollars, therefore increasing by 16% (+10% at fixed rates of exchange): analysts expected them to reach 2,28 billion dollars. Net profits moved from 70,4 million dollars up to 179,4 million dollars (153,5 million euros): they increased by 155%. Calvin Klein’s incomes increased by 17,8%, that is 890 million dollars, while Tommy Hilfiger’s revenues speeded up by 20,6%, therefore exceeding one billion dollars. In the international markets, both brands went up by 25%. That is why the US company expect prospective profits to boost throughout the year (the stock value is due to move from 9-9,10 dollars up to 9,05-9,15 dollars), but revenues are going to decrease supposedly (from +7% down to +6%). The only bad news comes from stock provisions quantities, which increased by 22% compared to the same period of the previous year. On the other hand Guess (left, in the picture) ended the first quarter positively, as sales went up by 14,7% (521,3 million dollars in terms of revenues). CEO Victor Herrero pointed out that accomplishments achieved in the first quarter went beyond the company’s expectations, mostly driven by European and Asian markets (+24% and +33% respectively). He also announced he expects business to expand, in the whole financial year, by 8,5% to 9,5%.
Exports boost PVH and Guess business while driving financial statements (which go beyond expectations)
