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PVH Lays Off 12% of Staff, Will Close All Heritage Brands Stores by 2021

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PVH is downsizing its North American retail operations amid struggles accelerated by the COVID-19 pandemic, which forced a $1.1 billion net loss in the first quarter and drove total sales down 43 percent. The parent company of Tommy Hilfiger and Calvin Klein is exiting its 162-store Heritage Brands outlet business and laying off approximately 450…

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