PVH Corp., which owns Calvin Klein and Tommy Hilfiger, blamed the closures on the "evolving North American retail landscape, which has been acceler
“We did not take these decisions lightly, as our Heritage Brands Retail business is our oldest retail business yet no longer met appropriate return metrics,” PVH CEO Manny Chirico said in the statement.
Heritage stores commonly operate as Van Heusen and Izod Golf stores. It also owns women’s lingerie brands Olga and Warner’s and men’s casual brand Arrow. But the brands won’t disappear: They will still be sold in department stores and warehouse clubs.
PVH is the latest retailer to reevaluate its brick-and-mortar footprint because of the pandemic, which resulted in temporary closures. In PVH’s first quarter earnings report from June, it reported a 43% drop in revenue because its business was “significantly impacted” by Covid-19.