PVH Corp. is an apparel company operating in the United States and internationally through segments including Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale. It designs and markets branded apparel, footwear, accessories, and related products for men, women, and children under brands such as TOMMY HILFIGER, TOMMY JEANS, Calvin Klein, and others. Products are distributed via wholesale channels, company-operated stores, and digital commerce. Formerly Phillips-Van Heusen Corporation, it changed its name to PVH Corp. in June 2011, was founded in 1881, and is based in New York, New York.
PVH Reaffirms FY2026 EPS Guidance of $11.80-$12.10
PVH Corp. reaffirmed its full-year 2026 outlook, projecting EPS in the range of $11.80 to $12.10 and operating margin of approximately 8.8%, while confirming annualized run-rate savings of approximately $45 million. In the second quarter, revenue decreased 3% and non-GAAP EPS was $3.70, beating expectations, though the company recognized a noncash goodwill impairment charge of $439 million on a GAAP basis. CEO Stefan Larsson highlighted strong D2C and e-commerce momentum, with Calvin Klein up double-digits and Tommy Hilfiger up high single-digits online, but noted European wholesale remains pressured, with the spring 2027 order book down mid-single digits. The company also announced that Alexis Rollier has formally joined as Chief Financial Officer, and it continues to expect at least $300 million in share repurchases.
PVH met Wall Street's revenue expectations in Q2 CY2026, with sales falling 3.2% year on year to $2.10 billion, while non-GAAP profit of $3.70 per share beat analysts' consensus by 20.1%. Management credited improved execution across Calvin Klein and Tommy Hilfiger, citing targeted product innovation and marketing campaigns that drove consumer engagement. CEO Stefan Larsson highlighted increased investment in global marketing, flagship store expansions in Tokyo and New York, and supply chain optimization as key strategic priorities. CFO Zac Coughlin noted that higher tariffs will pressure margins, but mitigation actions and cost discipline should help offset the impact. The company reiterated its full-year adjusted EPS guidance of $11.95 at the midpoint, despite an estimated unmitigated tariff impact of roughly $70 million to EBIT for 2025.
PVH Corp is scheduled to announce its second-quarter earnings results on Wednesday, September 2nd, after market close. The consensus EPS estimate is $3.08, up 22.2% year-over-year, while the consensus revenue estimate is $2.09 billion, down 3.7% year-over-year. Over the last two years, PVH has beaten EPS estimates 100% of the time and revenue estimates 88% of the time. In the past three months, EPS estimates have seen 11 upward revisions and zero downward, while revenue estimates have seen zero upward revisions and 12 downward.
PVH Q2 Earnings Preview: Revenue Expected to Decline 3.4%
PVH will report its second-quarter earnings after the market closes on Wednesday, with analysts expecting revenue to decline 3.4% year on year, a reversal from the 4.5% increase recorded in the same quarter last year. The fashion conglomerate beat revenue expectations last quarter, reporting $2.03 billion, up 2.1% year on year, and also exceeded EPS estimates. Analysts have generally reconfirmed their estimates over the past 30 days, and PVH has a history of beating Wall Street's expectations. In the consumer discretionary apparel and accessories segment, peers Figs and Movado have already reported strong results, with Figs revenue up 28.8% and Movado up 4.9%. PVH shares are down 16.4% over the last month, trading at $74.23, with an average analyst price target of $91.83.
PVH, the owner of Calvin Klein and Tommy Hilfiger, is expected to report a year-over-year increase in earnings on lower revenues for the quarter ended July 2026, with results due on September 2. The Zacks Consensus Estimate calls for earnings of $3.08 per share, up 22.2% from the year-ago quarter, while revenues are projected at $2.1 billion, down 3.2%. The consensus EPS estimate has been revised 0.32% higher over the last 30 days. However, PVH's Earnings ESP is 0% and it carries a Zacks Rank of #3, making an earnings beat uncertain. In the last reported quarter, PVH beat the consensus by 11.67%, and it has beaten estimates in each of the last four quarters.
PVH declares quarterly cash dividend of $0.0375 per share
PVH declared a quarterly cash dividend of $0.0375 per share, payable on September 23, 2026, to stockholders of record as of September 2, 2026. The announcement comes as PVH shares trade at $87.58, with a year-to-date return of 29.14% and a one-year total shareholder return of 22.13%, though the five-year total shareholder return remains down 21.69%. A widely followed fair value estimate places PVH at $93.08, implying the stock is about 5.9% undervalued, driven by expectations of higher net margins from growing direct-to-consumer digital sales and omnichannel execution. However, the current price-to-earnings ratio of 25.5 times exceeds the peer average of 21.5 times and the fair ratio of 24.5 times, while risks include fading tariff-related earnings support and ongoing softness in Europe, the Middle East, and Africa.
PVH shares drop 18% despite Q1 beat as apparel sector posts strong quarter
PVH shares fell 18.3% after its first-quarter results, even though the company beat revenue and earnings estimates. PVH reported revenues of $2.03 billion, up 2.1% year on year and 1.5% above analyst consensus, with next-quarter EPS guidance also exceeding expectations. The broader consumer discretionary apparel and accessories group, comprising 15 tracked stocks, beat revenue estimates by 1.4% on average and saw share prices rise 5.9% since reporting. Among peers, Ralph Lauren surged 17.9% on a 16.6% revenue jump, while Figs tumbled 36.1% despite a 28% revenue increase. Under Armour, the weakest performer, posted flat revenues of $1.17 billion and missed full-year EPS guidance, yet its stock rose 19.9%.
Global Intimate Apparel Market to Reach USD 169.4 Billion by 2035
The global intimate apparel market is projected to grow from USD 97.3 billion in 2025 to USD 169.4 billion by 2035, at a compound annual growth rate of 5.7%, according to a new report by Custom Market Insights. The market is expected to reach USD 102.8 billion in 2026. Growth is driven by rising female workforce participation, which boosts purchasing power and demand for premium, versatile intimate wear, along with the influence of social media and influencer marketing. The Asia Pacific region held the largest market share in 2025, fueled by urbanization and a growing middle class in countries such as China, India, and Japan, while Europe is forecast to grow at the highest CAGR during the projection period. Key players include PVH Corp., Hanesbrands Inc., Victoria's Secret and Co., and Wacoal Holdings Corp., among others.
PVH Corp. Appoints Alexis Rollier as Chief Financial Officer
PVH Corp. has appointed Alexis Rollier as its new Chief Financial Officer, effective early September 2026. Rollier joins from LVMH-owned Sephora, where he served as Global Chief Operating Officer and Global Chief Financial Officer since 2018, bringing more than 30 years of global finance, operations, and omni-channel retail experience. He will lead PVH's global finance organization, join the Executive Leadership Team, and report to CEO Stefan Larsson, as the company executes its PVH+ Plan to build Calvin Klein and TOMMY HILFIGER into their full potential. Rollier succeeds Melissa Stone, who has served as Interim CFO since January 1, 2026, and will continue to lead Global Financial Planning & Analysis. Prior to Sephora, Rollier held senior finance roles at Guerlain, Kingfisher, and LVMH, and began his career at Arthur Andersen.
PVH Stock Gains Over 19% in Six Months on Brand Strength and Digital Push
PVH Corporation shares have rallied 19.8% in the past six months, outperforming an industry decline of 9.1%, driven by strength in its Calvin Klein and Tommy Hilfiger brands and progress on its PVH+ Plan. The multi-year transformation strategy focuses on enhancing products, deepening consumer engagement, expanding digital and direct-to-consumer channels, and improving operational efficiency. The company is investing in AI, data analytics, and digital platforms, including a partnership with OpenAI for generative AI in design and marketing, while also streamlining operations through divestitures of non-core businesses. International expansion and improved full-price sell-through across channels are providing additional momentum heading into fiscal 2026. Despite macroeconomic uncertainty and tariff headwinds, analysts remain optimistic, with Zacks Consensus Estimates projecting year-over-year EPS growth of 5.5% for fiscal 2026 and 2.1% for fiscal 2027.
Wall Street Is Losing Confidence In PVH Corp, Is The Stock A Buy?
Bank of America Securities downgraded PVH Corp to Underperform from Neutral and cut its price target to $70 from $90, citing weaker European demand and headwinds in the Middle East and Turkey. The firm noted that about 50% of PVH's exposure comes from the EMEA region, limiting upside due to the Middle East conflict, and expects 2026 EBIT margins to remain flat amid tariff costs, licensing changes, and higher marketing expenses. Earlier, Citi lowered its price target to $78 from $80 while maintaining a Neutral rating, pointing to a weak start to Q2 from slower European demand and a balanced risk-reward outlook.
PVH Q1 Earnings Top Estimates but FY26 Sales Outlook Cut
PVH Corporation reported first-quarter fiscal 2026 adjusted earnings of $2.01 per share, beating the Zacks Consensus Estimate of $1.80, while revenues rose 2% to $2.025 billion, also topping expectations. However, the company cut its full-year revenue outlook to approximately flat on a reported basis, down from a prior view of a slight increase, citing a net negative impact from U.S. tariffs. PVH reaffirmed its full-year non-GAAP operating margin outlook of about 8.8% and earnings guidance of $11.80 to $12.10 per share. For the second quarter, PVH expects revenues to decline 3% to 4% and non-GAAP earnings of $3.00 to $3.10 per share. Shares have fallen 3.8% since the last earnings report, underperforming the S&P 500.
PVH Faces EMEA Downgrade and Files Employee Stock Plan Shelf Registration
PVH Corp. filed a US$83.27 million shelf registration for 1,068,000 common shares linked to an employee stock ownership plan offering, while Bank of America downgraded the apparel group citing exposure to macroeconomic and geopolitical pressures in the Europe, Middle East and Africa region. The downgrade highlights how PVH's concentration in EMEA could pressure margins and demand just as it is investing heavily to reshape its global brand and operating model. The shelf registration is small relative to PVH's market value and does not materially alter the investment case. More relevant near term is a June guidance cut pointing to flat full year revenue and a 3% to 4% decline in second quarter revenue, tying directly into concerns that weaker EMEA demand and higher costs could weigh on margin recovery.
PVH downgraded to Underperform on EMEA profit risks
PVH has been downgraded to Underperform by major analysts, citing increased risks tied to its exposure to Europe and the Middle East. Analysts highlight weakening macroeconomic conditions in EMEA and softer demand as potential pressures on PVH's profits. The stock closed at $74.38, with the share price down 22.7% over the past month but still up 9.7% year to date. The downgrade puts the spotlight on how exposed PVH may be to softer demand and pressure on margins in key EMEA markets, with focus now on how the company manages costs, inventory, and regional exposure.
Wall Street’s Favorite Stocks: PTC Touted, PVH and MarketAxess Flagged
StockStory highlights PTC as a stock to buy, citing 21% billings growth over the past year, an 84.7% gross margin, and a 38.7% operating margin. The firm flags PVH and MarketAxess as stocks facing headwinds, pointing to PVH’s weak constant currency growth and 6.4% free cash flow margin, and MarketAxess’s 4% annual revenue growth and flat earnings per share over five years. PTC trades at $112.76 per share, PVH at $72.13, and MarketAxess at $109.07.
PVH Corp. posted first-quarter fiscal 2026 results that highlighted direct-to-consumer momentum and steady margins, even as tariff uncertainty and softness in Europe, the Middle East and Africa weigh on its outlook. Direct-to-consumer revenues rose 6% on a reported basis, with owned and operated digital commerce up 11%, while wholesale revenues were flat reported but down 6% in constant currency. Gross margin held at 58.6% despite higher U.S. tariffs, and inventory fell 5% to $1.510 billion. The company reaffirmed its full-year non-GAAP operating margin target of approximately 8.8% but now expects fiscal 2026 revenues to be roughly flat on a reported basis and to decline slightly in constant currency, with a blended tariff rate of about 15% on U.S.-bound goods creating an estimated $195 million gross EBIT impact.
PVH Stock Draws Value Interest After Earnings Beat Despite Flat Sales Outlook
PVH Corp. is attracting investor attention after reporting adjusted earnings of $2.01 per share for the first quarter of fiscal 2026, beating the Zacks Consensus Estimate of $1.80 and management's guidance range of $1.65 to $1.80. The stock trades at a trailing price-to-earnings multiple of 6.9 times and a forward multiple of 6.4 times, with a price-to-sales ratio of 0.4 times, and has gained 21.8% over the past three months. Revenues rose 2% year over year to $2.025 billion, but on a constant-currency basis they declined 2%, and the company now expects full-year fiscal 2026 revenues to be approximately flat on a reported basis. Direct-to-consumer revenues grew 6% reported, while Calvin Klein and Tommy Hilfiger revenues were mixed, and the company faces headwinds from a 5% constant-currency revenue decline in the EMEA region and an estimated $195 million gross EBIT impact from tariffs. PVH currently carries a Zacks Rank of 3, or Hold, along with a Value Score of A and a Momentum Score of A.
Stitch Fix and PVH Shares Fall After Fed Dot Plot Signals Possible Rate Hike
Shares of Stitch Fix and PVH fell in afternoon trading after the Federal Reserve held rates at 3.5% to 3.75% but revised its dot plot to suggest the next move could be a hike rather than a cut. Stitch Fix dropped 7.7% and PVH declined 4.5% as the shift undercut the consumer spending recovery that consumer discretionary brands had been pricing in. Clothing is a deferrable purchase, and consumers facing credit card or buy-now-pay-later obligations now confront the prospect of higher borrowing costs, while inflation at 4.2% already erodes purchasing power. Investors had been warming to the consumer recovery story, but the FOMC outcome puts that thesis back under review.
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