Slide 1: Q2 2025 Earnings Summary
Q2 2025 Earnings Q2 2025 Summary Stefan Larsson, Chief Executive Officer, commented, “In the second quarter, through our disciplined execution of our PVH+ Plan, we continued to lean further into Calvin Klein and Tommy Hilfiger’s iconic brand strength and we grew revenue 4% with better-than-expected
Slide 2: PVH Corp. Reports 2025 Second Quarter Reported Revenue and Earnings Above Guidance
PVH CORP. REPORTS 2025 SECOND QUARTER REPORTED REVENUE AND EARNINGS ABOVE GUIDANCE AND REAFFIRMS FULL YEAR NON-GAAP EARNINGS OUTLOOK • Second quarter ◦ Revenue: Increased 4% to $2.167 billion compared to the prior year period and exceeded guidance of a low single digit increase. Increased 1% on a co
Slide 3: Non-GAAP Amounts and Second Quarter Review
Non-GAAP Amounts: Amounts stated to be on a non-GAAP basis exclude the items that are defined or described in greater detail near the end of this release under the heading “Non-GAAP Exclusions.” Amounts stated on a constant currency basis also are deemed to be on a non-GAAP basis. Reconciliations of
Slide 4: Inventory, EBIT and second quarter results
• Inventory increased 13% compared to the prior year period reflecting an improvement as compared to the 19% increase in the first quarter of 2025. The increase was primarily due to (i) a purposeful investment in core product inventory to improve overall availability, (ii) an increase in inventory t
Slide 5: Full Year 2025 Guidance
Full Year 2025 Guidance • Revenue: Projected to increase slightly to low single-digits compared to flat to increase slightly previously. Reaffirming outlook of flat to increase slightly on a constant currency basis. • Operating margin: Reaffirming outlook of approximately 8.5% on a non-GAAP basis co
Slide 6: Non-GAAP Exclusions
Non-GAAP Exclusions: The discussions in this release that refer to non-GAAP amounts exclude the following: • Pre-tax restructuring costs totaling $58 million incurred in 2025 consisting principally of severance in connection with the Company’s multi-year initiative announced in 2024 to simplify its
Slide 7: Investor Contact
Investor Contact: Sheryl Freeman investorrelations@pvh.com Media Contact: communications@pvh.com Conference Call Information: The Company will host a conference call to discuss its second quarter earnings release on Wednesday, August 27, 2025 at 9:00 a.m. EDT. Please log on to the Company’s website
Slide 8: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements in this press release and made during the conference call/webcast, including, without limitation, statements relating to the Company’s future revenue, earnings, plans, strategies, objectives,
Slide 9: Consolidated GAAP Statements of Operations
PVH CORP. Consolidated GAAP Statements of Operations (In millions, except per share data) Quarter Ended Six Months Ended 8/3/25 8/4/24 8/3/25 8/4/24 Revenue $ 2,167.2 $ 2,074.3 $ 4,150.8 $ 4,026.2 Gross profit 1,250.8 1,245.9 2,412.5 2,444.6 Selling, general and administrative expenses 1,128.9 1,083
Slide 10: Non-GAAP Measures
PVH CORP. Non-GAAP Measures (In millions, except per share data) The Company believes it is useful to investors to present its results for the periods ended August 3, 2025 and August 4, 2024 on a non- GAAP basis by excluding (i) the restructuring costs incurred in the first and second quarters of 20
Slide 11: Reconciliations of GAAP to Non-GAAP Amounts
PVH CORP. Reconciliations of GAAP to Non-GAAP Amounts (In millions, except per share data) Table 1 - Reconciliations of GAAP net income to net income on a non-GAAP basis Quarter Ended Six Months Ended 8/3/25 8/4/24 8/3/25 8/4/24 Net income $ 224.2 $ 158.0 $ 179.4 $ 309.4 Diluted net income per commo
Slide 12: Reconciliations of GAAP to Non-GAAP Amounts (continued)
PVH CORP. Reconciliations of GAAP to Non-GAAP Amounts (continued) (In millions, except per share data) Table 4 - Reconciliation of GAAP goodwill and other intangible asset impairments to goodwill and other intangible asset impairments on a non-GAAP basis Six Months Ended 8/3/25 Goodwill and other in
Slide 13: Notes to Consolidated GAAP Statements of Operations
PVH CORP. Notes to Consolidated GAAP Statements of Operations (In millions, except per share data) A. The Company computed its diluted net income per common share as follows: Quarter Ended Quarter Ended 8/3/25 8/4/24 Non- Non- GAAP GAAP GAAP GAAP Results Adjustments (1) Results Results Adjustments (
Slide 14: Consolidated Balance Sheets
PVH CORP. Consolidated Balance Sheets (In millions) 8/3/25 8/4/24 ASSETS Current Assets: Cash and Cash Equivalents $ 248.8 $ 610.0 Receivables 919.2 906.9 Inventories 1,791.0 1,582.8 Other Assets 323.6 314.7 (1) Assets Held For Sale 16.7 — Total Current Assets 3,299.3 3,414.4 Property, Plant and Equ
Slide 15: Segment Data
PVH CORP. Segment Data (In millions) REVENUE BY SEGMENT Quarter Ended Six Months Ended 8/3/25 8/4/24 8/3/25 8/4/24 Europe, the Middle East and Africa (“EMEA”) $ 1,048.5 $ 1,014.2 $ 1,976.2 $ 1,897.1 Americas 684.0 617.5 1,292.4 1,186.7 Asia-Pacific (“APAC”) 335.2 339.8 686.9 742.3 Licensing 99.5 102
Slide 16: Segment Data (continued)
PVH CORP. Segment Data (continued) (In millions) EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT Six Months Ended Six Months Ended 8/3/25 8/4/24 Results Non- Results Non- under GAAP under GAAP GAAP Adjustments Results GAAP Adjustments Results EMEA $ 327.9 $ 327.9 $ 330.5 $ 330.5 Americas 134.3 134.3 1
Slide 17: Reconciliations of Constant Currency Revenue
PVH CORP. Reconciliations of Constant Currency Revenue (In millions) As a supplement to the Company’s reported operating results, the Company presents constant currency revenue information, which is a non-GAAP financial measure. The Company presents results in this manner because it is a global comp
Slide 18: Full Year and Quarterly Reconciliations of GAAP to Non-GAAP Amounts
PVH CORP. Full Year and Quarterly Reconciliations of GAAP to Non-GAAP Amounts Reconciliations of (i) GAAP Operating Margin to Operating Margin on a Non-GAAP Basis and (ii) GAAP Diluted Net Income Per Common Share to Diluted Net Income Per Common Share on a Non-GAAP Basis Full Year 2024 Third Quarter