The company revealed net revenues fell 6 percent to $2.07 billion in its second quarter as demand weakened across the globe, particularly in China. Within that,underwear and denim campaigns), cutting back on inventory, building a “demand-driven supply chain,” and driving “hero” products with high-wattage marketing.growth over the long term.
Ashley Helgans, an analyst at Jefferies, added: “PVH has made meaningful progress in transitioning to a more focused, efficient, and strategic company. With a compelling roadmap and high-caliber management in place, it should see improved long-term results. However, we see 2024 as an investment year with the company making quality of sales decisions that are delaying growth and margin expansion.”“We’re in the business of building Calvin and Tommy into their full potential,” he said.
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