PVH Corp. reported fiscal 2025 fourth‑quarter revenue of $2.505 billion, a 6% year‑over‑year increase that surpassed the consensus estimate of $2.43 billion. The lift was driven by a 7% rise in Tommy Hilfiger revenue and a 3% rise in Calvin Klein revenue, both reported figures, while constant‑currency growth was modest—Tommy Hilfiger up 1% and Calvin Klein down 1%. The company’s ability to grow revenue in its core brands, despite flat constant‑currency performance, reflects successful pricing and product mix strategies that offset the headwinds from tariff‑related cost pressures.
The adjusted earnings per share came in at $3.82, beating the consensus of $3.30 by $0.52, or 15.8%. The beat was largely a result of disciplined cost control and sequential gross‑margin improvement across all regions, which helped offset the negative impact of U.S. import tariffs that are expected to reduce earnings by roughly $3.30 per share in fiscal 2026. Operating margins improved to 10.0% from 10.3% in the prior year period, driven by higher gross margins and lower operating expenses as the company continues to execute its PVH+ plan.
PVH’s full‑year guidance for fiscal 2026 was raised to a revenue range of $8.95 billion, up from the previous $8.90 billion estimate, and a non‑GAAP EPS range of $11.80 to $12.10, up from $11.60 to $11.90. The upward revision signals management confidence in sustaining growth momentum and maintaining profitability, even as tariff headwinds persist. The company also reiterated its commitment to share repurchases of at least $300 million in 2026, reinforcing its focus on shareholder returns.
The earnings release highlighted that the company’s margin expansion was supported by a 1% increase in gross margin in the U.S. market and a 2% increase in the EMEA region, while the Asia‑Pacific region saw a 1% decline due to higher input costs. These regional variations illustrate how PVH is managing cost pressures while leveraging its strong brand positioning to protect margins. The company’s guidance for Q1 2026 indicates expected margin compression to 6.0%–6.5% and EPS of $1.65–$1.80, reflecting front‑loaded tariff costs and marketing investments.
Overall, PVH’s Q4 2025 results demonstrate resilient performance in its flagship brands, effective cost management, and a forward‑looking outlook that balances optimism with realistic acknowledgment of tariff impacts. The company’s ability to beat both revenue and earnings expectations while maintaining a positive guidance trajectory underscores its operational strength and strategic focus on direct‑to‑consumer growth.
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