March 28 (Reuters) - Apparel maker PVH Corp said on Thursday it would exit the high-end collection of Calvin Klein and shut the label’s flagship store in New York’s Madison Avenue.
The company also said it was in talks with North America apparel partner G-III Apparel Group LTD to take over the brand’s women’s jeans unit.
The company’s sales in recent quarters have been hit by the fashion missteps at the high-end Calvin Klein 205W39NYC line of clothing.
“We believe this was the right decision for the long-term health of the brand as the existing high-end business was not resonating with our core consumer,” Chief Executive Officer Emanuel said on a post earnings call.
PVH shares rose nearly 15 percent in morning trading after reporting better-than-expected results.
Reporting by Aishwarya Venugopal and Uday Sampath Kumar in Bengaluru; Editing by Arun Koyyur
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