PVH Corp’s first quarter revenue rose 1.8 per cent. PVH Corp has projected a 10 cent cut in its full-year adjusted profit per share. The company, which owns Calvin Klein and Tommy Hilfiger, grapples with tariffs and slowing retail growth, exacerbated by weak spending from overseas shoppers in the face of a strong US dollar. Tariffs on Chinese imports are a concern, as PVH Corp sources a majority of its apparel, footwear and accessories from the Asian country.
PVH Corp is in a powerful position to deliver a sustainable trajectory of long-term growth and stockholder value creation. The American clothing company experienced broad-based strength across its businesses globally and its performance underscored the power of its diversified business model and the continued momentum in its global designer lifestyle brands.
Escalating trade tensions between China and the US have emerged as a new headache for US-based retailers, with a warning that additional tariffs would thin their earnings and margins. Earlier this month, the US escalated the trade war by raising tariffs on 200 billion dollars worth of Chinese goods to 25 per cent from 10 per cent. This was in addition to the 25 per cent tariff on $50 billion worth of Chinese imports already in place.
