Karlo CEO said the consumer environment is "worrying" and that orders will be reduced in the second half of the year.

Calvin Klein CEO Andrew Rees said: "We have noticed that American consumers are cautious in their spending on non-essential items. They are facing current and expected future price increases, which we believe may further pressure already thrifty consumers. In this context, our retail partners are taking more cautious actions, cutting back on purchasing budgets for future quarters."