Oversupply and Subdued Demand Are Causing Sales Declines at Chinese Luxury Malls, Bernstein Report Suggests [Yahoo! Finance]
PVH Corp. (PVH)
Last pvh corp. earnings: 4/1 04:15 pm
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Source: Yahoo! Finance
According to the report titled “China is in the repair shop,“ Chinese spending on luxury goods has yet to recover to pre-COVID-19 levels, when they saw 20 percent annual growth. More from WWD Chinese Netizens' Obsession With the 'Rich Baby Girl' Look Gallello Atelier Brings Back Artisanal Styles of a Bygone Era in Fete With Kelly Rutherford EXCLUSIVE: Calvin Klein Unveils New Global Flagship Concept in Paris On its home turf, footfall at mainland Chinese luxury shopping malls has been on a single-digit decline year-to-date, while luxury sales are falling in the double digits in the same period, according to Bernstein, which attributed the dips partially to an excessive number of malls that opened in 2023. Bernstein counted 277 new store openings in 2023, compared to 191 new stores in 2022 and 213 new stores in 2021. A faltering housing market has meant many Chinese consumers are less willing to splurge on luxury goods. “Lower real estate prices have dissipated the consume
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PVH
News
- PVH Corp. (NYSE: PVH) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
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PVH
Earnings
- 6/4/24 - Beat
PVH
Sec Filings
- 6/18/24 - Form 4
- 6/12/24 - Form 10-Q
- 6/4/24 - Form 8-K
- PVH's page on the SEC website