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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
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