Latest news with #Formula1-inspired
Yahoo
14 hours ago
- Business
- Yahoo
PVH is ‘focused on what we can control' in uncertain consumer environment
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. PVH Corp. saw its revenue increase 2% to $1.98 billion in the first quarter of fiscal 2025, according to a press release Wednesday. The increase exceeded the company's previous guidance of flat to down 2% for the quarter. Tommy Hilfiger revenue increased 3% year over year, driven by growth in the Americas as well as the region including Europe, the Middle East and Africa. Calvin Klein revenue was flat for the period. Overall DTC revenue fell 3% year over year, with growth in EMEA offset by declines in both the Americas and in Asia Pacific. Wholesale revenue increased 6%. 2025 is an important year in PVH's previously announced multi-year PVH+ Plan, which looks to boost the value and desirability of the Calvin Klein and Tommy Hilfiger brands. The strategic plan is also designed to bring the company to $12.5 billion in revenue by the end of this year. Thus, growing revenue is a big commitment for the company in 2025, said CFO Zac Coughlin on an earnings call with investors Thursday. However, changing tariff policies and tempered consumer spending have made this a challenging time for the fashion industry. 'While we are making important progress in our PVH+ Plan execution, we are navigating an increasingly uncertain consumer and macroeconomic backdrop — and given where we are on our brand-building journey, we're not yet fully able to offset that impact,' PVH CEO Stefan Larsson said in the press release. 'Looking ahead, we're focused on what we can control, stepping up our actions to scale the impact of our stronger product, next-level cut-through campaigns, and sharper marketplace execution across both brands.' Next quarter, PVH expects revenue to increase in the low single-digits compared to the same period last year. PVH reaffirmed its fiscal 2025 outlook, and forecast revenue to be flat or slightly up year over year. However, it changed its earnings per share guidance for the year to a range of $10.75 to $11, down from its previous guidance of $12.40 to $12.75. On the earnings call, Larsson said that despite the negative consumer and macroeconomic environment, the company is still able to retain customers by tapping into product innovation, distinctive marketing and strong wholesale. He pointed to the recent product innovation in Calvin Klein's men's underwear, including a viral ad campaign with musician Bad Bunny, as well as Tommy Hilfiger's partnership with Cadillac for a Formula 1-inspired collection. PVH said it identified $65 million in unmitigated tariff effects for the rest of the year, though it believes it has an advantage with a globally diversified revenue base and supply base. The company has a larger international share of its business than some of its competitors, with 30% of its business in the U.S. and 70% international, per Larsson. PVH is working with its supply chain partners to share the impact of the tariffs if possible, but noted that it's ready to take 'calibrated and targeted pricing action' in business lines where it has pricing power, Coughlin said on the call. 'We remain laser focused on perceived value for our consumers, so we will evaluate to take discount reductions to mitigate potential tariff impact,' he said. Recommended Reading Calvin Klein global brand president exits Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Entertainment
- Yahoo
Dua Lipa Styles Her Favorite $100 Sneakers With Boyfriend Jeans and a Leopard Print Top
When you buy through links on our articles, Future and its syndication partners may earn a commission. Dua Lipa is currently on her Radical Optimism Tour, but she still found some time to take her favorite $100 sneakers to the Monaco Grand Prix on Sunday, May 25. Having already demonstrated her love for Formula 1-inspired attire, Lipa hit the race track with her Puma Speedcats and a $21,700 celeb-beloved watch, all while leaning into the leopard print and belt buckle trends. Lipa's Puma Speedcats quickly became known as a rising It-sneaker, particularly as they are seriously affordable. The versatile Puma Speedcat Og comes in a plethora of colors, almost all of which retail at the $100 price point. However, the "Levitating" singer didn't shy away from including a little loud luxury in her outfit. An eye-catching, $21,700 Panthère de Cartier gold watch—which has a huge celebrity fan base—perfectly contrasted with the superstar's more affordable wardrobe picks. A pair of black faded Coperni Boyfriend Denim Pants, currently retailing for $371, were an ideal casual fit for the Grand Prix. She paired the mid-rise boyfriend jeans with a Coperni black logo belt, a Coperni yellow leopard print top, and a black nylon jacket. View Deal View Deal View Deal Everyone from Meghan Markle to Elle Fanning and Kylie Jenner, sister Kendall, and Taylor Swift has shown their love for Cartier's delicate timepieces. While Lipa's allegiance will seemingly always be to Puma's Speedcat Og model, she's recently taken the brand's ballet sneakers for a test-drive. Rihanna, Jennifer Lawrence, Kaia Gerber and Gigi Hadid are all dedicated fans of the Puma Speedcat, too. View Deal View Deal View Deal During her appearance at the Monaco Grand Prix, Lipa accessorized her outfit with a $56,000 Tiffany & Co. Knot Double Row Bracelet in White Gold and Diamonds, a $7,200 Tiffany & Co. Knot Double Row Ring, a $6,500 Shay Pavé Diamond Pinky Ring, and $180 Jennifer Fisher 2" Thread Hoops. Along with the singer's rumored $30,000 engagement ring, Lipa's jewelry totalled approximately $100,000.
Business Mayor
25-05-2025
- Business
- Business Mayor
Adidas, Puma expected to hike sportswear prices following Nike as US tariffs hit
LONDON: Adidas and Puma are likely to hike prices for running shoes and sportswear in the United States, following Nike's lead, analysts and investors said on Thursday, as U.S. tariffs on imports drive costs up for retailers. Nike on Wednesday said it would raise prices next week, charging up to $10 more for shoes currently costing more than $150, while keeping prices stable for products under $100. It is the biggest sportswear company by sales and market cap. 'That was the moment Adidas and Puma were waiting for,' said Robert Krankowski, sporting goods analyst at UBS. Both German sportswear brands recently said they would not be the first movers in raising prices, instead waiting to see what rivals do. 'We should probably expect a similar decision from both Adidas and Puma because … this is not Nike-specific, it is an industry issue. Everyone will be impacted by the tariffs,' Krankowski added. U.S. President Donald Trump has imposed a blanket 10% tariff on all imports, and hit China with a higher tariff of 30%. More worrying for sportswear brands, the key footwear and clothing manufacturing hub of Vietnam faces the threat of a steep 46% tariff returning in July. Nike described the announced price increases as part of its normal seasonal planning, without mentioning tariffs. Puma said on Thursday it is in talks with its U.S. partners but has not decided whether or how it would adjust prices. Adidas did not immediately reply to a request for comment on its pricing plans. 'Historically, when the leading brand adjusts its prices, competitors tend to follow suit shortly thereafter,' said Federico Borin, an analyst at Janus Henderson. How high other brands raise prices will depend on their assessments of U.S. shoppers' willingness to pay, which varies based on how in-demand their sneakers or running shoes are. Adidas, which has enjoyed a surge in sales thanks to trendy vintage shoes such as the $100 Samba and $120 Gazelle, could easily raise prices, said Simon Jaeger, portfolio manager at Flossbach von Storch in Cologne, Germany, which holds shares in Adidas and Nike. Nike's price increases are relatively modest, Jaeger added, but 'what concerns me more is that the U.S. consumer in general is not as strong as a couple of years ago.' U.S. consumer sentiment slumped further in May while one-year inflation expectations surged, according to the University of Michigan Surveys of Consumers on Friday. Given weaker demand, sportswear brands will have to carefully manage their inventories at retailers, Jaeger said, to avoid oversupplying and being forced to discount. Puma, whose sales in the U.S. have been slowing, may have less room to hike prices than Adidas, said UBS' Krankowski. Puma has said it aims to sell 4 million to 6 million pairs of its $100 Formula 1-inspired Speedcat sneaker this year but sales have been slower than expected, raising the question of whether it should hike the shoe's price. 'Puma doesn't have a massive first-mover advantage because the other brands are taking more momentum,' Krankowski said. Read More Prada not looking at M&A, CEO says More expensive brands are also adapting as Nike hikes prices. Running-focused On, whose adult sneakers sell for $130 and up, plans to increase prices in July on certain products in the U.S., saying this is part of its ambition to be the 'most premium' global sportswear brand and not a reaction to tariffs.
The Star
23-05-2025
- Business
- The Star
Adidas, Puma expected to hike sportswear prices following Nike as US tariffs hit
LONDON: Adidas and Puma are likely to hike prices for running shoes and sportswear in the United States, following Nike's lead, analysts and investors said on Thursday, as U.S. tariffs on imports drive costs up for retailers. Nike on Wednesday said it would raise prices next week, charging up to $10 more for shoes currently costing more than $150, while keeping prices stable for products under $100. It is the biggest sportswear company by sales and market cap. "That was the moment Adidas and Puma were waiting for," said Robert Krankowski, sporting goods analyst at UBS. Both German sportswear brands recently said they would not be the first movers in raising prices, instead waiting to see what rivals do. "We should probably expect a similar decision from both Adidas and Puma because ... this is not Nike-specific, it is an industry issue. Everyone will be impacted by the tariffs," Krankowski added. U.S. President Donald Trump has imposed a blanket 10% tariff on all imports, and hit China with a higher tariff of 30%. More worrying for sportswear brands, the key footwear and clothing manufacturing hub of Vietnam faces the threat of a steep 46% tariff returning in July. Nike described the announced price increases as part of its normal seasonal planning, without mentioning tariffs. Puma said on Thursday it is in talks with its U.S. partners but has not decided whether or how it would adjust prices. Adidas did not immediately reply to a request for comment on its pricing plans. "Historically, when the leading brand adjusts its prices, competitors tend to follow suit shortly thereafter," said Federico Borin, an analyst at Janus Henderson. How high other brands raise prices will depend on their assessments of U.S. shoppers' willingness to pay, which varies based on how in-demand their sneakers or running shoes are. Adidas, which has enjoyed a surge in sales thanks to trendy vintage shoes such as the $100 Samba and $120 Gazelle, could easily raise prices, said Simon Jaeger, portfolio manager at Flossbach von Storch in Cologne, Germany, which holds shares in Adidas and Nike. Nike's price increases are relatively modest, Jaeger added, but "what concerns me more is that the U.S. consumer in general is not as strong as a couple of years ago." U.S. consumer sentiment slumped further in May while one-year inflation expectations surged, according to the University of Michigan Surveys of Consumers on Friday. Given weaker demand, sportswear brands will have to carefully manage their inventories at retailers, Jaeger said, to avoid oversupplying and being forced to discount. Puma, whose sales in the U.S. have been slowing, may have less room to hike prices than Adidas, said UBS' Krankowski. Puma has said it aims to sell 4 million to 6 million pairs of its $100 Formula 1-inspired Speedcat sneaker this year but sales have been slower than expected, raising the question of whether it should hike the shoe's price. "Puma doesn't have a massive first-mover advantage because the other brands are taking more momentum," Krankowski said. More expensive brands are also adapting as Nike hikes prices. Running-focused On, whose adult sneakers sell for $130 and up, plans to increase prices in July on certain products in the U.S., saying this is part of its ambition to be the "most premium" global sportswear brand and not a reaction to tariffs. - Reuters
NBC News
06-05-2025
- Entertainment
- NBC News
Damson Idris stuns with Met Gala outfit reveal
Damson Idris wowed at the 2025 Met Gala with a dramatic outfit reveal, arriving in a Formula 1-inspired suit and helmet before unveiling a sleek burgundy look underneath.
