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May 04
PVH Q1 2025 Earnings Report
PVH reported Q1 2025 results with revenue exceeding guidance and adjusted EPS surpassing expectations despite a net loss due to impairment charges.
Key Takeaways
PVH Corp. delivered solid Q1 2025 results with revenue up 2% year-over-year and ahead of guidance. However, the company recorded a net loss driven by significant noncash impairment charges, even as adjusted EPS exceeded expectations.
Revenue grew to $1.984 billion, surpassing guidance of flat to down 2%
Adjusted EPS reached $2.30, beating the high end of the $2.25 guidance
GAAP net loss of $44.8 million was due to a $480 million noncash impairment
Calvin Klein’s launch of the Icon Cotton Stretch line saw strong response, supported by a Bad Bunny campaign
PVH
PVH
PVH Revenue by Segment
PVH Revenue by Geographic Location
Revenue by Segment
Tommy Hilfiger Revenue
CapyFin.comCalvin Klein Revenue
CapyFin.comHeritage Brands Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.com Forward Guidance
PVH reaffirmed its full-year revenue guidance but lowered EPS and margin forecasts amid macroeconomic uncertainty and tariffs.
Positive Outlook
- Revenue outlook reaffirmed at flat to slightly up
- Continued brand momentum in Calvin Klein and Tommy Hilfiger
- Planned mitigation actions to offset tariff headwinds
- Improved inventory positioning for upcoming quarters
- Marketing investments expected to strengthen H2 performance
Challenges Ahead
- EPS guidance reduced from $12.40–$12.75 to $10.75–$11.00
- Operating margin expected to decline vs. prior outlook
- Tariff-related impact of approximately $1.05 per share unmitigated
- Foreign exchange headwinds impacting profitability
- Challenging consumer demand in Asia-Pacific and North America retail
Revenue & Expenses
Visualization of income flow from segment revenue to net income