NEW YORK — Phillips-Van Heusen Corp. swung back to the black in the fourth quarter and, perhaps more importantly, generated substantial free cash to drive the global expansion of its recently acquired Calvin Klein business.
For the three months ended Feb. 2, the New York-based multibrand apparel and footwear manufacturer reported net income of $5.7 million or 20 cents a diluted share. That compares with last year’s loss of $9.5 million or 34 cents a share. Excluding an aftertax charge of $13.4 million for an accounting change regarding the impairment of goodwill, PVH would have reported profits of $4 million, or 14 cents, in the prior-year quarter. Either way, PVH easily beat the Wall Street consensus estimate by 3 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?"