Shareholders of PVH Corp., owner of the Tommy Hilfiger and Calvin Klein apparel brands, voted today in favor of Chief Executive Officer Emanuel Chirico’s compensation plan. Pay expert Graef Crystal says he’s overpaid.
PVH Corp., owner of the Calvin Klein and Tommy Hilfiger apparel brands, slid as much as 6.1 percent in late trading after lowering its profit forecast as shaky consumer confidence forces retailers to pile on discounts.
Murjani Group , the Indian franchisee for Tommy Hilfiger and Calvin Klein , will set up 500 Hilfiger accessories stores in the next five years as rising incomes allow people to spend more on watches, clothes and belts.
Sam Nazarian, the Los Angeles restaurant and nightclub owner, is putting his SLS Beverly Hills luxury hotel on the market as part of a strategy to cash in on the company’s real estate investments and focus on its management operations.
Woolworths Holdings Ltd. of South Africa is using a $2 billion takeover of Australia’s David Jones Ltd. to challenge fashion retailers Inditex SA, Hennes & Mauritz AB and Fast Retailing Co. in the southern hemisphere.