The strong increase in the Calvin Klein licensing business was driven by excellent performance in the fragrance business, which experienced the successful global launch of the new CKIN2U fragrance line for both men and women, as well as the continued strength in sales of both the men's and women's euphoria fragrance line.
Calvin Klein licensing revenues also increased as a result of royalties generated from the multiple new licensed product categories launched over the past few years and from strong performances in jeans and underwear.
The growth in the Company's wholesale and retail legacy businesses was primarily due to the newly-acquired neckwear business and comparable store sales growth of 7% in the Company's outlet retail business.
Due to the 53rd week in fiscal 2006, first quarter 2007 comparable store sales are more appropriately compared with the thirteen week period ended May 7, 2006. On this shifted basis, comparable store sales increased 4%.
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Phillips-Van Heusen Corporation
marketing@alchempro.com
