World News

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

(Reuters) – PVH Corp <PVH.N> 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 $1.79 per share, if not for the epidemic, which has killed over 1,100 people.

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

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