Quarterly ResultJun 3, 2026, 04:22 PM
PVH Corp. Q1 Revenue $2.03B; Full Year Outlook Revised to Flat
AI Summary
PVH Corp. reported first quarter 2026 results, with revenue reaching $2.025 billion, a 2% increase year-over-year. Direct-to-consumer revenues saw a 6% increase, driven by growth in both stores and e-commerce. While Q1 non-GAAP EPS of $2.01 exceeded guidance, the company updated its full-year revenue outlook to be approximately flat, citing the prolonged effects of the Middle East conflict on its EMEA business, though operating margins remain on track. The company also expects to repurchase at least $300 million of shares for the full year.
Key Highlights
- PVH Corp. reported Q1 2026 revenue of $2.025 billion, a 2% increase year-over-year (down 2% in constant currency).
- Q1 2026 GAAP EPS was $1.90, while non-GAAP EPS was $2.01, exceeding guidance.
- Direct-to-consumer revenues increased 6% (3% in constant currency), driven by growth in stores and e-commerce.
- Full year 2026 revenue outlook is now projected to be approximately flat, revised from a slight increase.
- Full year 2026 operating margins are reaffirmed at approximately 8.8% on a non-GAAP basis.
- The company did not repurchase shares in Q1 2026 but expects to repurchase at least $300 million for the full year.
- Q1 2026 operating margin was 6.1% on a GAAP basis and 6.5% on a non-GAAP basis.
Price Impact
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