PVH — Mar 31, 2025 release

The ASR agreements will be included under the Company’s current $5 billion stock repurchase authorization approved by the Board of Directors, of which $1.8 billion remained available for share repurchases as of February 2, 2025. 2025 Outlook: Full Year 2025 Guidance • Revenue is projected to be flat to increase slightly compared to 2024 (flat to increase slightly on a constant currency basis). • Operating margin is projected to be flat to increase slightly on a non-GAAP basis compared to 10.0% on a non-GAAP basis in 2024 . Operating margin on a GAAP basis was 8.9% in 2024. • EPS is projected to be in a range of $12.40 to $12.75 on a non-GAAP basis compared to $10.56 on a GAAP basis and $11.74 on a non-GAAP basis in 2024. The 2025 EPS projection includes the estimated negative impact of approximately $0.20 per share related to foreign currency translation. EPS on a GAAP basis for 2024 included the amounts described under the heading “Non-GAAP Exclusions” later in this release. EPS on a non-GAAP basis for 2024 excluded these amounts. • Interest expense is projected to increase to approximately $85 million compared to $67 million in 2024 primarily due to the impact of funding the accelerated share repurchase program discussed above. • Effective tax rate is projected to be approximately 22%. First Quarter 2025 Guidance • Revenue is projected to be flat to decrease 2% compared to the first quarter of 2024 (flat to decrease 1% on a constant currency basis). • EPS is projected to be in a range of $2.10 to $2.25 on a non-GAAP basis compared to $2.59 on a GAAP basis and $2.45 o