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Tamara Mellon to step back into fashion Thursday, 16th May 2013
Image courtesy of @TamaraMellon
Since reaching the end of her non-compete agreement with Jimmy Choo at the end of February, Tamara Mellon has stayed relatively quiet in terms of new business plans. Until now.
This morning the former Jimmy Choo chief creative officer and co-founder tweeted a picture of herself with a man named Francesco, whom she dubbed “the world’s most amazing shoe maker”. The businesswoman then tweeted “back to the factories!” alongside another picture of her having her foot measured - a sure sign that Mellon is about to make her grand re-entrance into British fashion.
Earlier this year the fashion rumour mill was rife with speculation that Mellon had secured backing from big names such as Tory Burch and Tommy Hilfiger for her new business. Stores in London, Los Angeles, New York, Brazil, Hong Kong, Qatar and Singapore were also discussed in the fashion press, but Mellon has not yet commented on the matter.
Hudson's Bay boosts Tommy Hilfiger presence in Canada Wednesday, 1st May 2013
Image courtesy of Hudson's Bay
Hudson’s Bay is to open some shops-in-shops for Tommy Hilfiger as the department store giant boosts the assortment of the American sportswear brand across Canada.
The department store is opening 59 new ‘shop-in-shops’ at 59 locations in Toronto and is planning to add 17 more this autumn. The rest of the Hudson’s Bay stores will be fitted with Hilfiger boutiques in 2014.
“Our strategic alliance with Hudson’s Bay for Tommy Hilfiger menswear has served our business very well, and we’re excited to be expanding the partnership,” said Gary Sheinbaum, chief executive officer of Tommy Hilfiger North America, a division of PVH Corp.
Calvin Klein, Tommy Hilfiger owner PVH Corp reports better than expected results Thursday, 28th March 2013
Photo credit: Tommy Hilfiger
PVH Corporation beat expectations for its final quarter, with adjusted earnings per share up 34 per cent year-on-year.
That beat Zacks consensus estimate of USD 1.50 and its own guidance range of USD 1.48- USD 1.49, coming in instead at USD 1.60.
Strong revenues growth and improved margins boost PVH’s fourth quarter results, which saw total revenue rise 6.7 per cent to USD 1,636.1 million compared with USD 1,532.8 million in the year before.
But despite strong trading at PVH’s Tommy Hilfiger and Calvin Klein lines, the apparel group suffered from a decline at its Heritage Brands segment, negative impact from exiting the Izod and Timberland business and unfavourable foreign currency exchange rates.
Revenue at Tommy Hilfiger rose 9 per cent to USD 891.1 million during the quarter compared to the year before, driven by an 11 per cent rise in North American business and an 8 per cent increase in international businesses.
Not to be outdone, Calvin Klein saw its revenue improve by 14 per cent to USD 317.4 million for the period, thanks to strong sales in North America and store expansions.
Meanwhile PVH’s Heritage Brands segment fell 2 per cent year-on-year to USD 427.7 million, driven by the impact of the group’s exit from the Izod and Timberland businesses.
As the world’s largest shirt making company and over 12,000 employees worldwide, PVH Corp said it now expects fiscal 2013 total revenue to be USD 8.2 billion, with Warnaco contributing approximately USD 2.15 billion.
PVH raises full-year view after rise in quarterly profit Wednesday, 28th November 2012
Photo credit: PVH Corp
PVH Corp has raised its full year profit view after posting a bigger quarterly profit on Tuesday.
The Tommy Hilfiger and Calvin Klein owner said it now expects to make between USD 6.37- USD 6.38 a share for the year, up from a previous guidance in August of USD 6.25 to USD 6.32 per share.
"The worldwide consumer appeal for Calvin Klein and Tommy Hilfiger has allowed us to successfully expand our market share penetration and global reach of our designer lifestyle brands, despite the macroeconomic headwinds," chief executive Emanuel Chirico said in a statement.
PVH, which also owns the Van Heusen, IZOD and Arrow brands, earned USD 165.41 million for the third quarter to 28 October, up from USD 112.4 million a year before.
Gross margins rose 260 basis points for the company, which PVH attributed to the higher-margin Calvin Klein and Tommy Hilfiger business growing faster.
It's the fifth time this year PVH has raised its full-year earnings outlook, after continued strong performances from the global apparel company's leading brands.
Tiffany & Co to open Champs-Elysées flagship store Monday, 5th November 2012
Image courtesy of Tiffany & Co.
“This is a preeminent location that firmly places Tiffany & Co. on an international stage, in the heart of a city where people from all over the world come to visit and shop,” Frederic Cumenal, executive vice president of Tiffany & Co, told the magazine.
The area is also home to a slew of prestigious brands such as Cartier and Louis Vuitton, with a group of American retailers, featuring Tommy Hilfiger and Banana Republic, nearby.
PVH to acquire Warnaco in $2.9bn deal Wednesday, 31st October 2012
Photo credit: Calvin Klein
According to WWD, the acquisition will see PVH become one of the largest global branded lifestyle apparel companies, with a portfolio that will reunite Calvin Klein’s entire business, as well as the Van Heusen, Bass, Speedo, Olga and Warner’s brands.
In a statement to press, PVH said the merger has been unanimously approved by the boards of directors of both company, and expects to close the deal early next year. It’s though Warnaco president and chief executive Helen McCluskey will join PVH’s board of directors as part of the agreement.
“This is a unique opportunity to reunite the ‘House of Calvin Klein’ and reinforces our strategy to drive the global growth of Calvin Klein,” said Emanuel Chirico, chairman and chief executive of PVH.
“Having direct global control of the two largest apparel categories for Calvin Klein — jeans and underwear —will allow us to unlock additional growth potential of this powerful designer brand across all major product categories, geographies and distribution channels.”Chirico added.
McCluskey stated: “This transaction delivers compelling value to our stockholders and significant benefits for the combined company.
"We look forward to the opportunities this combination brings to the continued success of Calvin Klein Jeans and Calvin Klein Underwear, the increased potential for our heritage brands, and the future for our associates," she added.
Tommy Hilfiger, Calvin Klein owner PVH raises outlook Tuesday, 2nd October 2012
Photo credit: PVH Corp
PVH Corp on Tuesday raised its earnings per-share guidance for the third quarter and full year, after continued strong performances from Tommy Hilfiger and Calvin Klein.
The American apparel firm also said it is now exceeding goals for turnaround plans at its Heritage Brands wholesale businesses for the second half of the year.
Manhattan-based PVH increased its earnings per share in the third quarter from USD 2.28 to 2.30, from earlier estimates of USD 2.20 to USD 2.25. For the full financial year, the company raised its earnings per-share estimate to a range of USD 6.32 to USD 6.37, from a previous estimate of USD 6.25 to USD 6.32.
It's the fourth time this year PVH has raised its full-year earnings outlook, with the updates reported ahead of the firm's analyst day in New York on Tuesday.
PVH raises outlook again as Tommy Hilfiger goes from strength to strength Thursday, 30th August 2012
Photo credit: Tommy Hilfiger
PVH Corp, owner of the Tommy Hilfiger and Calvin Klein brands, has raised its full-year earnings outlook for the third time this year after another encouraging set of results for its second quarter.
Revenue from Tommy Hilfiger, which constitutes more than half of PVH’s overall revenue, rose 4 per cent to USD 721.9 million, helped in part by a boost in price levels for the American lifestyle brand.
European comparable store sales climbed 15 per cent, whilst its European wholesale business also rose 9 per cent.
Based in Manhattan, PVH now expects to earn around USD 6.24 to USD 6.32 per share for the year, up from USD 5.90 to USD 6.00 per share forecast back in January.
Second-quarter profit rose to USD 87.7 million, or USD 1.19 per share, from USD 66.7 million, or 92 cents a share, a year before.
According to Reuters, on an adjusted basis, the company earned USD 1.25 a share for the quarter, beating analysts’ expectations of USD 1.20 per share.
PVH profits skyrocket to 61% Thursday, 24th May 2012
The roaring success of Calvin Klein and Tommy Hilfiger in the first quarter has boosted parent company PVH Corp to 61 per cent profit boost for the period – a figure way above analyst estimates.
The company said it expects the brands to continue delivering positive results in spite of the economic problems in Europe.
PVH has now raised its profit outlook for the year as shares grew USD 2.01, or 2.6 per cent. The company reported earnings of USD 93.1 million for the quarter ended 29 April, up from USD 57.7 million in the same quarter a year earlier.
Tommy Hilfiger to open Tokyo statement store Monday, 16th April 2012
Photo credit: Tommy Hilfiger S/S 2012 campaign
American fashion retailer Tommy Hilfiger is to open an 11,000 square foot store at the intersection of Omotesando and Meiji Dori – two of Japan’s busiest streets.
The store is filled with American-themed memorabilia, including an authentic New York fire escape, vintage metal signs and subway turnstiles.
“The brand’s visibility in the market was a little bit underinvested, and that’s what we’re now trying to correct,” Fred Gehring, global chief executive of Tommy Hilfiger, told WWD.