November 04, 2019 / By mobanmarket
Tommy Hilfiger is expected to report a 21 percent rise in group sales to 1.6 billion euros from 1.34 billion euros in the year ended March 31. The company has seen double-digit growth in Europe and North America, however earnings before interest, taxes, depreciation and amortization were the same year-over-year, rising to 270 million euros from 268 million euros.
“This is the toughest time we have ever faced, and we’re very happy with our progress. We were much less hurt than other brands,” chief executive officer Fred Gehring told WWD.
Gehring further stated best-selling categories worldwide were menswear and denim. During the year, the company added 100 freestanding stores, taking the global portfolio to more than 900, half of which are directly owned and operated.
With regard to the current year, Gehring said it got off to a “challenging” start, although trading began to pick up in April, and the European market saw a strong recovery around Easter. He said the big challenge going forward will be “getting the consumer to return to a full-price mentality.”
In Europe, sales rose 14 percent to 795 million euros from 707 million euros. The company said the inclusion of European footwear sales, as well as growth in all regions and product groups, contributed to the sales rise.
In Europe, some 75 percent of Hilfiger’s business is wholesale, and Gehring said the brand has about 5,000 customers in the region. “As a result, we’re more vulnerable in that market, but so far we are getting stronger and gaining market share,” he said, adding that Europe currently generates about 50 percent of turnover, followed by the U.S. with 35 percent and the rest of the world with 15 percent.
Image: Tommy SS09
Click Here: chanel perfume sale
Categories: News