PVH Corp. reported its net profit for Q1 dropped on Wednesday. Revenues increased by 2 percent from the same period last year.
For Q1, the company's net profit was 82 million dollars, dropped from 179 million dollars last year. Furthermore, revenues decreased to 2,237 million dollars. The profit margin of the company dropped to 4 percent compared to 8 percent a year ago.
Philips-Van Heusen Corporation (NYSE: PVH) was founded in 1976 and today is one of the largest branded lifestyle apparel companies in the world, with a diversified portfolio of lifestyle apparel brands including Calvin Klein (acquired in 2002), Tommy Hilfiger (in 2010), Van Heusen, Izod, Arrow and Speedo. In 2013 PVH bought the Warnaco Group, which manufactured the Calvin Klein underwear, jeans and sportswear lines under license, consolidating control of the Calvin Klein brand.