Phillips-Van Heusen Corp. said Monday that it posted a first-quarter loss, hurt in part by expenses from the $3 billion purchase of Tommy Hilfiger and hedges to cover a portion of that euro-denominated acquisition.
For the three months ended May 2, the net loss was $27.6 million, or 53 cents a diluted share, versus net income of $24.7 million, or 48 cents, in the year-ago quarter. Eliminating over $100 million in onetime costs related to the Hilfiger acquisition, earnings per share rose to positive territory, coming in at 83 cents, 4 cents higher than the consensus estimate of 79 cents.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"