PVH to Close Izod Retail Operations

“We have made the difficult decision to exit the Izod retail business, as it has become clear that its business model can no longer achieve acceptable return metrics as a result of the increasingly competitive environment driven by more premium brands in the outlet retail channel," says Emanuel Chirico, chairman and chief executive officer, PVH Corp. "The closing of our Izod retail division has no bearing on our Izod wholesale business strategy, which has shown great growth with our most recent launch at Kohl’s for the fall 2014 season.”

All existing 120 Izod stores are expected to be closed by the end of fiscal 2015, with about 20 of the current stores set to be converted into Calvin Klein and Tommy Hilfiger locations (both brands are also owned by PVH).

“The conversion of several of the best Izod locations into Calvin Klein and Tommy Hilfiger stores under