Live Breaking News & Updates on Financial Officer Mike Shaffer|Page 1

Dive Brief:
PVH, with a strong start to the year, continues to reshape its leadership under CEO Stefan Larsson. The apparel conglomerate said overall first quarter revenue rose 57.5% year over year to
$1.98 billion, with digital revenue up 95% (66% through its own websites). Compared to 2019, revenue fell 11.5%.
Wholesale revenue rose 53% year over year, in large part thanks to strength in Europe. Year over year, Tommy Hilfiger revenue rose 63% (flat compared to 2019), Calvin Klein rose 65% (down 12% compared to 2019) and the Heritage Brands business rose 9%, according to a company press release. 
PVH swung into the black, reaching net income of $99.7 million, from its $1.1 billion loss a year ago; from 2019, net income rose 22%. Gross margin expanded to 59.1% from 49.5% in 2020, with expansion across regions and brands, and overall exceeding 2019, per the release. ....

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