PVH Exceeds Earnings Estimates, Plans to Improve Inventory Efficiency
Stefan Larsson has made it his mission to reduce and simplify at PVH Corp., focusing on attracting more consumers. to Tommy Hilfiger and Calvin Klein while creating a simple and fast commercial infrastructure to meet demand.
The way forward has been clear since Larsson, CEO, presented his PVH+ strategic plan in April l last year.
But the question was still whether this was a path the company could actually take and if consumers would follow it. .
The answer so far is yes.
Related ArticlesPVH successfully navigated a volatile consumer landscape in the second quarter to post revenue growth, double-digit gains in the direct-to-consumer business and better-than-expected profits, after adjusting for costs associated with a series of layoffs in the second quarter.
"At the end of the day, what we do is take Calvin and Tommy, who are these two globally unique iconic brands, and our job is to constantly build on the DNA of these brands and drive their desirability," Larsson told WWD. "At the same time, we're building an underlying business engine which allows us to drive these consumer-facing improvements in a more systematic and repeatable way."
The next step at PVH is inventory, which was up 6% at the end of the quarter, in line with projected sales growth.
PVH plans to improve its inventory relative to sales, setting an ambitious target. Larsson hopes to achieve this by focusing on flagship products, more accurate data-driven upfront planning, better allocation and a supply chain that can deliver more efficiently.
Stefan Larsson, CEO of PVH Corp. Courtesy
Larsson, who got his start at H&M, is clearly using a few tricks learned during his days of training at Fast mode and applying them to Calvin Klein and Tommy Hilfiger - while trying to telegraph some consistent reliability to...
Stefan Larsson has made it his mission to reduce and simplify at PVH Corp., focusing on attracting more consumers. to Tommy Hilfiger and Calvin Klein while creating a simple and fast commercial infrastructure to meet demand.
The way forward has been clear since Larsson, CEO, presented his PVH+ strategic plan in April l last year.
But the question was still whether this was a path the company could actually take and if consumers would follow it. .
The answer so far is yes.
Related ArticlesPVH successfully navigated a volatile consumer landscape in the second quarter to post revenue growth, double-digit gains in the direct-to-consumer business and better-than-expected profits, after adjusting for costs associated with a series of layoffs in the second quarter.
"At the end of the day, what we do is take Calvin and Tommy, who are these two globally unique iconic brands, and our job is to constantly build on the DNA of these brands and drive their desirability," Larsson told WWD. "At the same time, we're building an underlying business engine which allows us to drive these consumer-facing improvements in a more systematic and repeatable way."
The next step at PVH is inventory, which was up 6% at the end of the quarter, in line with projected sales growth.
PVH plans to improve its inventory relative to sales, setting an ambitious target. Larsson hopes to achieve this by focusing on flagship products, more accurate data-driven upfront planning, better allocation and a supply chain that can deliver more efficiently.
Stefan Larsson, CEO of PVH Corp. Courtesy
Larsson, who got his start at H&M, is clearly using a few tricks learned during his days of training at Fast mode and applying them to Calvin Klein and Tommy Hilfiger - while trying to telegraph some consistent reliability to...
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