Attire firm PVH Corp. (NYSE: PVH) has reported a decline in adjusted revenue for the fourth quarter of 2022, regardless of a modest enhance in revenues.
Complete revenues elevated 2% year-over-year to $2.49 billion within the remaining three months of fiscal 2022. Gross sales development in the primary Calvin Klein and Tommy Hilfiger segments was partially offset by a decline within the Heritage Manufacturers division.
On an adjusted foundation, PVH reported earnings of $2.38 per share for the fourth quarter, which is down 16% from the prior-year interval. Unadjusted revenue declined sharply to $138.7 million or $2.18 per share.
“We delivered sturdy fourth quarter efficiency with stronger than anticipated high-single digit fixed foreign money income development and earnings above steerage. Our disciplined execution of the PVH+ Plan, our multi-year, brand-focused, direct-to-consumer and digitally-led technique enabled us to compete to win regardless of the difficult macro scenario,” stated PVH’s CEO Stefan Larsson.