PVH Corp. Earnings Call Transcripts
Fiscal Year 2027
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Q1 delivered revenue and EPS above guidance, with strong D2C and e-commerce growth offsetting EMEA headwinds from the Middle East conflict. Full-year outlook revised to flat revenue, but EBIT margin and EPS guidance reaffirmed, supported by tariff refunds and disciplined capital allocation.
Fiscal Year 2026
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Q4 and full year 2025 results exceeded expectations, with revenue and EPS growth despite tariff headwinds. 2026 guidance calls for slight revenue growth, stable operating margin, and continued investment in marketing and digital, with at least $300 million in share repurchases planned.
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Q3 results exceeded expectations with revenue of $2.3B, strong digital growth, and improved SG&A efficiency. Full-year guidance was narrowed to the high end, despite tariff and consumer headwinds, with continued investment in brand innovation and marketing.
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Revenue grew 4% reported and 1% constant currency, beating guidance, with strong brand momentum in Calvin Klein and Tommy Hilfiger. Full-year guidance was reaffirmed despite a $70M EBIT tariff impact, and strategic marketing and operational improvements are driving performance.
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Revenue and EPS exceeded guidance, driven by strong wholesale and e-commerce, but gross margin declined due to higher promotions and operational challenges. Full-year revenue guidance is reaffirmed, but EBIT margin and EPS are lowered amid macro headwinds and tariffs.
Fiscal Year 2025
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Revised summary: The strategy leverages Calvin Klein and Tommy Hilfiger’s global appeal, driving growth via product innovation, cultural relevance, and disciplined execution. Europe and APAC show strong momentum, while North America faces tariff challenges. Margin expansion and operational improvements target a 15% operating margin.
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Q4 and FY2024 results exceeded guidance with record gross margin and EPS, driven by strong brand performance and operational efficiencies. 2025 outlook is cautious but positive, with flat to slightly higher revenue and margins, and a $500M share repurchase planned.
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Q3 results exceeded guidance with strong gross margin expansion and disciplined cost management, despite a 5% revenue decline year-over-year. Full-year guidance was reaffirmed, with EPS range narrowed due to currency impacts, and the company remains on track for record gross margin and $400M in share buybacks.
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Q2 results met guidance with higher profitability, driven by gross margin expansion and disciplined cost management. North America showed strong margin gains, Europe executed quality of sales actions, and Asia Pacific faced macro headwinds. EPS guidance was raised due to a favorable tax settlement.
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Q1 delivered double-digit EPS growth and record gross margin, driven by strong DTC performance and disciplined execution. Full-year revenue is projected to decline 6%-7%, but EPS guidance was raised, with continued margin expansion and strategic focus on quality of sales, especially in Europe.
Fiscal Year 2024
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PVH+ Plan drives brand relevance and operational efficiency for Calvin Klein and Tommy Hilfiger, with strong consumer engagement, margin expansion, and disciplined growth strategies across regions. Incremental improvements in product, supply chain, and margin management are expected to continue.