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Retail hinges more on halting virus than stimulus

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Containing the coronavirus outbreak in the U.S. is more critical for business than dishing out more stimulus aid for corporations, according to the head of Calvin Klein’s holding company.

“Where there hasn’t been as much fiscal support, let’s say in Europe and in Asia, the fact that the pandemic is under much better control there [means] our business is that much more strong there, and we’ve been able to really capture that more and more in our sales,” PVH CEO Manny Chirico said in a “Closing Bell” appearance.

The comments came after PVH, which also owns clothing brands such as Tommy Hilfiger, Van Heusen and Arrow, posted better-than-feared results in the quarter ending Aug. 2. Revenue…



Source cnbc.com

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