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“We continued to execute very well in Europe and Asia, where countries not currently impacted by COVID are performing significantly above pre-pandemic levels, while in North America we continue to be impacted by ongoing supply chain pressures,” said Stefan Larsson, CEO of PVH.
The company expects Q3/22 revenue to decline by 5%-4% year-over-year (increase 4%-5% on a constant currency basis), reflecting a 2% reduction resulting from the impact of the war in Ukraine.
For the full 2022-year, the company expects EPS of $8.00, missing the consensus estimate of $8.68. Revenue is expected to decline by 4%-3% (increase 3%-4% on a constant currency basis).
The company also announced that Trish Donnelly, CEO of PVH Americas & Calvin Klein Global, steps down to pursue other opportunities. The company plans to separate the responsibilities for this role into two: a regional leadership role for PVH Americas and a global brand leadership role for Calvin Klein. In the interim, Stefan Larsson, CEO of PVH Corp, will lead PVH Americas and Calvin Klein Global.
By Davit Kirakosyan
