PVH Corp. (NYSE: PVH) Q1 2025 Earnings Call | 6/5/2025

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PVH Corp. (NYSE: PVH) reported Q1 2025 results on June 5, 2025, with revenue rising 2% year-over-year to $1.98 billion, surpassing guidance and analyst expectations. The company’s non-GAAP earnings per share (EPS) came in at $2.30, above the forecasted range of $2.10–$2.25, while GAAP EPS was a loss of $0.88 due to a $480 million non-cash impairment charge. Despite the top-line beat, PVH’s gross margin fell to 58.6% from 61.4% last year, reflecting increased promotional activity, higher freight costs, and channel mix shifts, particularly in Calvin Klein’s women’s wholesale transition and delivery delays. Performance varied by region: EMEA revenue grew 5%, and Americas revenue rose 7%, both led by wholesale gains. APAC revenue dropped 13%, impacted by the timing of Lunar New Year and continued weakness in China. Tommy Hilfiger brand sales increased 3%, while Calvin Klein was flat. Direct-to-consumer store sales fell 5%, but digital commerce rose 3%. PVH’s net loss for the quarter was $44.8 million (GAAP), compared to net income of $151.4 million a year ago, reflecting the impairment charge and margin pressures. Non-GAAP EBIT declined to $160 million from $195 million last year. The company returned over $550 million to shareholders through share repurchases during the quarter. Outlook: PVH reaffirmed its full-year 2025 revenue guidance for flat to slightly up growth but lowered its non-GAAP EPS outlook to $10.75–$11.00 (from $12.40–$12.75) and expects operating margin around 8.5% (down from 10% in 2024). The revised outlook reflects an estimated $1.05 per share net negative impact from U.S. tariffs and continued macroeconomic uncertainty, partially offset by cost-saving initiatives and a $0.10 per share benefit from currency translation. Q2 2025 revenue is expected to grow in the low single digits, with non-GAAP EPS forecasted at $1.85–$2.00. CEO Stefan Larsson emphasized ongoing investment in marketing and product innovation for Calvin Klein and Tommy Hilfiger, including the successful launch of Calvin Klein’s Icon Cotton Stretch franchise and high-profile collaborations. CFO Zac Coughlin highlighted disciplined cost management and the company’s focus on returning to double-digit operating margins by the end of 2025, despite persistent margin and consumer headwinds. About Inside Ticker: For more expert analysis and real-time updates on PVH Corp. (NYSE: PVH) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #PVH #EarningsCall #Q12025 #CalvinKlein #TommyHilfiger #RetailStocks #Tariffs #StockMarket #Investing #InsideTicker