PVH Reports Q2 Earnings Amid Mixed Regional Demand
PVH Corp (NYSE: PVH) reported second-quarter earnings that met or exceeded guidance despite a 3% revenue decline. Adjusted EPS reached $3.70, and operating margin was 11.1%, bolstered by $107 million in tariff refunds which added about $1.80 to EPS. Excluding the refunds, operating margin dropped to approximately 6%. Regional performance varied: Americas saw a slight revenue decline of 1% while Asia-Pacific grew 3%, driven by e-commerce and direct-to-consumer sales. EMEA revenue fell 6% due to weak consumer demand and geopolitical pressures, with European wholesale remaining particularly challenging. The spring 2027 order book for Europe is down mid-single digits. PVH reaffirmed its full-year outlook of flat reported revenue, an 8.8% operating margin, and adjusted EPS between $11.80–$12.10. Additionally, the company plans at least $300 million in share repurchases and identified $45 million in annualized cost savings. The firm also recorded a non-cash goodwill impairment charge of $439 million.
Tickers: $PVH
Topics: adjusted_eps operating_margin revenue share_repurchases tariff_refunds