PVH — Mar 31, 2025 release

In a challenging macro, we delivered another year of strong profitability in North America, drove sequential improvements in our wholesale order books in Europe while improving our quality of sales, and we achieved our third consecutive year of growth in Asia Pacific, on a constant currency basis.” 1 Larsson continued, “Looking ahead, we are positioning the Company for long-term, sustainable growth and remain relentlessly focused on fueling our brand-building consumer flywheel to unlock our full potential around the world. In North America, we will continue to drive a double-digit EBIT margin, in Europe our Fall ‘25 order books are back to growth, and in Asia Pacific we will continue to focus on driving strong consumer engagement across our diversified business in the region. I want to thank our teams globally for all their hard work as we take this major step toward delivering on our vision.” Zac Coughlin, Chief Financial Officer, said, “For the full year 2024, we delivered on the commitments we set out at the beginning of the year, despite a tougher than expected macroeconomic backdrop. We leaned into the next level of PVH+ Plan execution across the Company to create value by increasing quality of sales and driving gross margin improvements and cost efficiencies to deliver significant cash flow from operations. Reflecting our conviction in our long-term growth potential and our strong balance sheet, we repurchased $500 million in stock during 2024, and we will be separately announcing our intent to repurchase $500 million in additional shares through ASR agreements in 2025 to opportunistically capture our attractive valuation and deliver returns for shareholders.” Non-GAAP Amounts: Amounts stated to be on a non-GAAP basis exclude the items that are defined or describ