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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchi - Shares of Calvin Klein-owner PVH Corp slumped nearly 23% before the bell on Tuesday, after it forecast worse-than-feared annual revenue and profit, mainly hit by challenging demand in Europe.
PVH's wholesale revenue declined 10% in the fourth quarter, as wholesale customers across North America and Europe continued to take a cautious approach. Retailers such as PVH, Levi Strauss and Ralph Lauren have struggled with weaker wholesale business in North America due to department stores and retailers cutting back on orders owing to slow consumer demand.
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