PVH closes most Calvin Klein, Tommy Hilfiger China stores on virus outbreak

PVH closes most Calvin Klein, Tommy Hilfiger China stores on virus outbreak

PVH Corp said on Wednesday it had temporarily closed majority of its Calvin Klein and Tommy Hilfiger stores in China due to the coronavirus outbreak.

The logo of Calvin Klein watches is seen at the Baselworld fair in Basel
FILE PHOTO: Logo of Calvin Klein watches is seen at the Baselworld watch and jewellery fair in Basel, Switzerland, March 26, 2018. REUTERS/Arnd Wiegmann

REUTERS: PVH Corp said on Wednesday it had temporarily closed majority of its Calvin Klein and Tommy Hilfiger stores in China due to the coronavirus outbreak.

The company said it would have exceeded its fourth-quarter adjusted earnings forecast of at least US$1.79 per share, if not for the epidemic, which has killed over 1,100 people.

About 7per cent of PVH's revenue comes from Greater China, while the country accounts for about 20per cent of the company' global sourcing.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)

Source: Reuters

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