Tommy Hilfiger, Calvin Klein Parent Closes Stores, Suspends Operations in Russia and Belarus

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Tommy Hilfiger, Calvin Klein Parent Closes Stores, Suspends Operations in Russia and Belarus.

NEW YORK, TGO: PVH Corp., the parent company of Tommy Hilfiger and Calvin Klein, said it is temporarily closing its stores and suspending commercial operations in Russia and Belarus as a result of the war in Ukraine.

PVH said it had no direct operations in Ukraine but virtually all of its business partners in that country have also closed their stores.

The three countries accounted for about 2% of total net revenue in 2021, it said.

The company’s stock hit a 52-week low on Monday before recovering slightly to close at $66.99, down 15% for the day and 36% over the past 12 months.