PVH Corp plans to close and cut job at Calvin Klein and Tommy Hilfiger

PVH Corp, which owns Calvin Klein and Tommy Hilfiger among other brands, announced that it is closing all of its 162 Heritage Brands stores in North America and cutting 450 jobs across the company. In a statement, the company president Stefan Larsson said that the COVID-19 crisis is "dramatically reshaping" retail and that job cuts and store closings were important for the "long-term health" of the company.