Our team is proud to share the news of Basic Resources, Inc. acquiring 3 brands from our longstanding partner, PVH Corp. “We are thrilled to bring the Warners, Olga and True&Co brands into our portfolio of leading consumer brands. Under these powerful brands, PVH has built a business that offers innovative, solution-oriented products that strongly resonate with consumers. We look forward to welcoming the team and leveraging our resources and expertise in the market to drive continued growth by offering customers well-designed, high-quality products,” - Salomon Harari, CEO of Basic Resources. Read more here: https://lnkd.in/eqbzj-6z
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PVH Corp. reported 3Q 2023 results today. Stefan Larsson, Chief Executive Officer, commented, “We delivered another strong quarter, with high single-digit revenue growth for our direct-to-consumer businesses across Calvin Klein and Tommy Hilfiger, with growth in all regions, and we exceeded our EPS guidance. Through our disciplined PVH Plan execution, we are gaining increasing traction in our product category offense and hero products, our cut-through marketing campaigns, and building out our demand-driven supply chain. We expanded gross margin, improved inventory productivity and increased our marketing investments, driving strong consumer engagement and overall, significantly improved profitability. We continue to see incredible strength in our iconic brands as we tap into their beloved DNA and build them into the most desirable lifestyle brands in the world.” Mr. Larsson added, “I’m especially pleased with the outperformance in North America as we made significant progress towards unlocking our full potential. Based on our solid year-to-date performance, we are raising our EPS guidance for the full year.” Read more: https://bit.ly/3N5N7Tm #PowerOfPVH Photo credit (right): Mercedes-AMG PETRONAS Formula One Team
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Stefan Larsson, PVH Corp. Chief Executive Officer, commented, “We delivered another strong quarter across both Calvin Klein and Tommy Hilfiger driven by the disciplined execution of our long-term, brand-building growth plan, the PVH Plan. We generated double-digit revenue growth in our direct-to-consumer business in both our stores and in e-commerce, through our relentless focus on building brand desirability through product, consumer engagement and marketplace execution.” Mr. Larsson added, “We are increasing our EPS outlook for the year, excluding restructuring charges, based on the confidence we have in our ability to execute in the back half of the year, while continuing to successfully navigate the macroeconomic environment. As we lean into the five key growth drivers of the PVH Plan, we’re continuing to gain traction by connecting our consumer-facing execution with an increasingly demand-driven operating engine to fuel long-term profitable growth.” Read more: https://bit.ly/45JyKvz #PowerOfPVH
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We reported 2Q 2023 results today. Stefan Larsson, PVH Corp. Chief Executive Officer, commented, “We delivered another strong quarter across both Calvin Klein and Tommy Hilfiger driven by the disciplined execution of our long-term, brand-building growth plan, the PVH Plan. We generated double-digit revenue growth in our direct-to-consumer business in both our stores and in e-commerce, through our relentless focus on building brand desirability through product, consumer engagement and marketplace execution.” Mr. Larsson added, “We are increasing our EPS outlook for the year, excluding restructuring charges, based on the confidence we have in our ability to execute in the back half of the year, while continuing to successfully navigate the macroeconomic environment. As we lean into the five key growth drivers of the PVH Plan, we’re continuing to gain traction by connecting our consumer-facing execution with an increasingly demand-driven operating engine to fuel long-term profitable growth.” Read more: https://bit.ly/45JyKvz #PowerOfPVH
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Simeon Siegel, CFA joins Bloomberg following PVH’s earnings-driven sell-off, as the company, like NKE and LULU, beat its recent quarter but introduced disappointing forward guidance. “In this environment where people are wondering what’s going to happen to consumer spending, companies that are giving weak guidance are seeing their stocks get hit. We saw that with Nike and Lulu. The quarters themselves were good. The guidance disappointed. I want to give the company the credit they deserve. It was a good result this quarter, even if the guidance fell short. So I don’t think we should just look at the stock and say there’s a huge problem. I think the question is how large should these brands be. PVH has phenomenal brands. Among the largest in the world. But we need to ask how large should brands get. Is there a time when they’ve hit a level of saturation and they’d be better served by getting higher margins? That’s always been our question.” http://spr.ly/6043w8FNd
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Here's My Analysis and Recap of PVH Corp.'s Q1 2024 Earnings Report: Despite exceeding #earnings expectations, PVH Corp.'s Q1 2024 financial performance raises critical questions about its strategic direction and #market execution. The company's reported figures reflect both the challenges of a shifting retail environment and the impact of #strategic initiatives aimed at enhancing profitability. The overall revenue dropped by 10% to $1.952 billion, slightly better than forecasted but still a substantial decline. The Tommy Hilfiger segment was particularly weak, with a 10% decrease in #revenue driven by a severe 14% drop in international sales, primarily in Europe. This strategic reduction in Europe, aimed at driving higher-quality sales, indicates deeper issues in maintaining market share and effective execution. Calvin Klein's performance was stagnant, with a 4% increase in North America compensating for the 2% decline internationally. The flat overall performance raises concerns about the brand's global appeal and market strategy. Additionally, Heritage Brands' revenue plummeted by 65%, largely due to the divestiture of the women’s intimates business, further eroding the company's revenue base. The company's direct-to-consumer segment showed lackluster growth, with digital commerce revenues falling by 6%, suggesting possible issues with the online shopping experience or competitive pressures. While gross margins improved by 350 basis points to 61.4%, reflecting effective cost management and pricing strategies, these gains are overshadowed by the significant revenue declines. #PVH's reaffirmation of a full-year revenue decrease of 6-7% underscores the persistent challenges it faces in the global market. Although the company raised its EPS guidance, indicating confidence in profitability through cost controls, the substantial drops in key segments highlight critical issues in strategic execution and market positioning. PVH must address these deep-seated challenges to stabilize its revenue and sustain long-term growth. #Earnings #Report #Q1 #NorthAmerica #Fashion #GlobalBrands
We reported Q1 2024 results today. Stefan Larsson, Chief Executive Officer, commented, “We delivered on our revenue expectations, led by growth in our direct-to-consumer business, and beat our earnings guidance for the first quarter. We further strengthened our brand positioning and pricing power in the marketplace, and as planned, we generated growth for Calvin Klein and Tommy Hilfiger combined in both North America and Asia Pacific in constant currency while successfully driving strategic quality of sales initiatives in Europe.” Mr. Larsson added, “Although we are still early in our journey to build Calvin Klein and Tommy Hilfiger into the most desirable lifestyle brands in the world, we are already creating some of the highest consumer engagement in the history of our brands. We also continue to gain traction in all five PVH Plan growth drivers with strong growth in key product categories and hero products with significant gross margin expansion. This is fueled by the build-out of our demand-driven supply chain and targeted growth investments, complemented by cost efficiencies from simplifying how we work.” Read more: https://bit.ly/3wThK9Z #PowerOfPVH #CalvinKlein #TommyHilfiger
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“In this environment where people are wondering what’s going to happen to consumer spending, companies that are giving weak guidance are seeing their stocks get hit. We saw that with #Nike and #Lulu. The quarters themselves were good. The guidance disappointed. I want to give the company the credit they deserve. It was a good result this quarter, even if the guidance fell short. So I don’t think we should just look at the stock and say there’s a huge problem. I think the question is how large should these brands be. #PVH has phenomenal brands. Among the largest in the world. But we need to ask how large should brands get. Is there a time when they’ve hit a level of saturation and they’d be better served by getting higher margins? That’s always been our question.” I joined Bloomberg following PVH Corp.’s earnings-driven sell-off, as the company, like Nike and lululemon, beat its recent quarter but introduced disappointing forward guidance. http://spr.ly/6043w8FNd
Simeon Siegel, CFA joins Bloomberg following PVH’s earnings-driven sell-off, as the company, like NKE and LULU, beat its recent quarter but introduced disappointing forward guidance. “In this environment where people are wondering what’s going to happen to consumer spending, companies that are giving weak guidance are seeing their stocks get hit. We saw that with Nike and Lulu. The quarters themselves were good. The guidance disappointed. I want to give the company the credit they deserve. It was a good result this quarter, even if the guidance fell short. So I don’t think we should just look at the stock and say there’s a huge problem. I think the question is how large should these brands be. PVH has phenomenal brands. Among the largest in the world. But we need to ask how large should brands get. Is there a time when they’ve hit a level of saturation and they’d be better served by getting higher margins? That’s always been our question.” http://spr.ly/6043w8FNd
PVH deserves credit for what it achieved with Calvin Klein and Tommy Hilfiger: analyst
bnnbloomberg.ca
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We reported Q1 2024 results today. Stefan Larsson, Chief Executive Officer, commented, “We delivered on our revenue expectations, led by growth in our direct-to-consumer business, and beat our earnings guidance for the first quarter. We further strengthened our brand positioning and pricing power in the marketplace, and as planned, we generated growth for Calvin Klein and Tommy Hilfiger combined in both North America and Asia Pacific in constant currency while successfully driving strategic quality of sales initiatives in Europe.” Mr. Larsson added, “Although we are still early in our journey to build Calvin Klein and Tommy Hilfiger into the most desirable lifestyle brands in the world, we are already creating some of the highest consumer engagement in the history of our brands. We also continue to gain traction in all five PVH Plan growth drivers with strong growth in key product categories and hero products with significant gross margin expansion. This is fueled by the build-out of our demand-driven supply chain and targeted growth investments, complemented by cost efficiencies from simplifying how we work.” Read more: https://bit.ly/3wThK9Z #PowerOfPVH #CalvinKlein #TommyHilfiger
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What can be learned from the come-back kids? Marks and Spencer, Abercrombie & Fitch Co., and AllSaints are three strong turnaround stories that have demonstrated retail/fashion turnarounds are possible. These three span the UK's broad appeal middle market, a famous global player, and a super-focused directional fashion brand. While Ted Baker and Superdry are on the ropes, these success stories offer valuable insights, although we see no common silver bullet 🤔 Here are three thoughts from TRP: ✅ M&S maximised and widened the appeal of Food while bringing third-party label credentials to help the perceptual change of own-label clothing (as own-label was developed too) )—all with operational efficiencies, digital development, and a re-energised team culture. ✅ Abercrombie was bold and brave, a significant change from the original model, in which customer feedback now plays a leading role in product development. The new CEO has created a highly customer focussed culture, rather than A&F knows best ;) They've also moved to attract an older customer than teens. ✅ All Saints strengthened its distinct brand DNA, found its tribes in global locations, and developed its DTC channels, avoiding an over-reliance on wholesale and marketplaces. It would be good to hear what others believe has contributed to these turnarounds... #Retail #Fashion #Brands Alexandra Legro RM Philip Mountford Jon Bennett Micha Medendorp Benjamin Philip Sarah L. Morris Helen Beebe Laura Supple Eva Pascoe Henrik Madsen Will Murray-Phillips Alex Pickering Kees Verkade
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Founder of Smart Guides | Oxford University Modern Languages & Philosophy Graduate | B2B Copywriting and Thought Leadership
https://lnkd.in/eFpBEGuf Ambercrombie & Fitch Co – whose former CEO Michael Jeffries famously dubbed the brand’s clothing “exclusionary” and destined for the “attractive, all-American kid” – has undergone a significant rebrand over the past few years. Now, even in a more constrained market, the company has posted an outstanding set of Q3 results, recording a 20% net sales increase across all regions, brands and selling channels. In light of this uptick, the brand has revised its full-year outlook, expecting net sales to rise between 12-14% for FY2023, compared with its earlier forecast of 10% growth, and operating margin to sit around 10% – up from 8-9%. Reporting by me. #abercrombie #q3results
Signal: What has driven Abercrombie & Fitch’s Q3 success?
retail-insight-network.com
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Senior Creative Product Leader | Consumer-Centric Design Leader | Concept & Vision Developer | Merchandising Product Designer | Motivating Team Builder | Apparel and Accessories
7moGreat News and Great acquisitions of Great brands.