PVH Corp. is tapping the brakes on its fast-growing Tommy Hilfiger and Calvin Klein businesses, projecting both to grow at slower rates than they did in 2011.
In reporting fourth-quarter and full-year results Tuesday, the company said in its guidance that 2012 revenues were projected to be flat to up 2 percent, with the latter figure translating to more than $6 billion from $5.89 billion in 2011. Those projections included an estimate that Tommy Hilfiger would also be flat to up 2 percent and that Calvin Klein would grow 5 to 7 percent, with both numbers held down by unfavorable foreign currency translation. The two designer brands generated respective growth of 15.8 percent, hitting $815.8 million, and 11.9 percent, reaching $278.5 million, in the final quarter of 2011. RELATED STORY: Tommy Hilfiger, Calvin Klein Again Lift PVH Profits >>
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