PVH posts Q1 loss, revenues fall 43 percent

PVH Corp. said in a statement that its business was significantly impacted by the Covid-19 pandemic during the first quarter of 2020, resulting in an unprecedented decline in revenue and earnings, including 962 million dollars of pre-tax non-cash impairment charges during the quarter. First quarter revenue decreased 43 percent to 1.344 billion dollars, or decreased 42 on a constant currency basis compared to the prior year period. Loss per share on a GAAP basis was 15.37 dollars compared to earnings per share of 1.08 dollars and loss per share on a non-GAAP basis was 3.03 dollars compared to earnings per share of 2.46 dollars in the prior year period.