PVH Corp., the owner of Calvin Klein and Tommy Hilfiger, reported a 2% rise in Q1 revenue to $2.158 billion, prompting the company to reconfirm its full-year guidance. International business, especially in Asia-Pacific, drove the growth, with a strong performance in China and continued expansion in Europe. PVH's North America direct-to-consumer sector also experienced robust growth.
Direct-to-consumer revenue increased by 8% compared to the previous year, fueled by owned stores and digital commerce. However, wholesale revenue declined by 2%.
Tommy Hilfiger saw a 5% revenue increase, driven by a 3% rise in international revenue and a remarkable 11% surge in North America. Calvin Klein's revenue remained steady, with a 7% increase internationally offset by a 12% decline in North America. Heritage Brands revenue dropped by 12%.
PVH posted a net income of $136 million, up from $133 million, with earnings per share of $2.14, marking a 10% growth