For the first quarter, PVH revenues increased 16 per cent compared to the prior year period. On a constant currency basis the increase was ten per cent.

The effective tax rate on a GAAP basis was 17.1 per cent as compared to 17 per cent in the prior year period. Inventory levels increased 22 per cent as compared to the prior year period due to a shift in the timing of inventory receipts as a result of the 53rd week in 2017 and an expected increase in second quarter of 2018 sales as compared to the prior year period.

PVH, an American clothing company, experienced broad-based strength across its businesses globally and its performance underscored the power of its diversified business model and the continued momentum in its global designer lifestyle brands, Calvin Klein and Tommy Hilfiger.

Revenue in the second quarter of 2018 is projected to increase ten per cent (nine per cent on a constant currency basis) compared to the prior year period.

For full year 2018, revenue is projected to increase approximately six per cent (approximately five per cent on a constant currency basis) as compared to 2017.

PVH is in a powerful position to deliver a sustainable trajectory of long-term growth and stockholder value creation.