PVH — Mar 31, 2026 release

REPORTS 2025 FOURTH QUARTER REVENUE AND EARNINGS ABOVE GUIDANCE; PROVIDES 2026 OUTLOOK • Delivered strong fourth quarter and finish to the year; fourth quarter revenue exceeded guidance, increasing 6% on a reported basis (flat in constant currency), with full year revenue in line with guidance, up 3% on a reported basis (up slightly in constant currency) • Generated fourth quarter operating margin of 9.9% on a GAAP basis and 10.0% on a non-GAAP basis including an approximately 170 basis point negative impact of gross tariffs, exceeding guidance of approximately 9% • Generated full year operating margin of 2.6% on a GAAP basis and 8.8% on a non-GAAP basis including an approximately 80 basis point negative impact of gross tariffs, exceeding guidance of approximately 8.5% • Leaned into key growth categories across ‘Calvin Klein’ and ‘TOMMY HILFIGER’, through innovation and newness in our hero product franchises, together with cut-through marketing campaigns • Introduced 2026 full year outlook with revenue projected to increase slightly compared to 2025 and operating margins projected to be stable at approximately 8.8% on a non-GAAP basis, with underlying progress offset by the approximately 215 basis point projected negative impact of gross tariffs • Expecting DTC growth for both brands and across all regions for 2026 • Targeting at least $300 million stock repurchases in 2026 on top of the $560 million stock repurchases completed in 2025 New York - March 31, 2026 - PVH Corp. [NYSE: PVH] today reported its 2025 fourth quarter and full year results and provided its 2026 outlook. Stefan Larsson, Chief Executive Officer, commented, “We delivered a strong fourth quarter and finish to the year, driven by the strength of our two iconic global brands,  Calvin Klein  and  TOMMY HILFIGER , and the continued disciplined execution of our PVH+ Plan. In the fourth quarter, we beat our guidance across revenue, operating margin and EPS on a non-GAAP basis. For the full year, in the context of a challenging global macro-economic environment, we returned to modest revenue growth, in line with guidance, and delivered non-GAAP operating margins above guidance. Building on our performance in 2025, we have started 2026 and the important Spring season with positive momentum, and we expect DTC growth in both brands and across all regions for the full year. In Europe, our wholesale order books are positive for Fall 2026; in the Americas, we expect continued growth in e-commerce as we continue to further strengthen our digital position; and in Asia we