| Metric | Value ($ M) | Q2 FY26 |
|---|---|---|
| Revenue | 2.0K | 2.1% |
| Total Income | 2.0K | 2.1% |
| Expenditure | 1.9K | 17.9% |
| PBT | 108.50 | 131.0% |
| Net Profit | 88.00 | 296.4% |
| OPM | 6.14% | 22.89pp |
| NPM | 4.34% | 6.60pp |
| EPS | 1.92 | 318.2% |
PVH Corp. Reports Q2 2026 Results and Reaffirms Full Year Outlook
03 Sept 2026 · 3 Sept, 1:58 am
Summary
PVH Corp. reported second quarter 2026 results, with revenue of $2.1 billion meeting the high end of guidance and non-GAAP operating margin exceeding expectations. The company saw continued momentum in its direct-to-consumer channels, particularly in the Americas and APAC regions, with e-commerce revenue growing 4%. Despite a GAAP net loss of $(102.9) million due to a significant goodwill impairment charge, non-GAAP diluted EPS reached $3.70. PVH Corp. reaffirmed its full-year outlook for revenue, operating margin, and EPS, signaling confidence in its strategic execution.
Key Highlights
- 1
PVH Corp. delivered second quarter revenue of $2.1 billion, at the high end of guidance on a reported basis and exceeding guidance in constant currency.
- 2
Direct-to-consumer (DTC) momentum was driven with growth in both Americas and APAC, while EMEA performance improved on a constant currency basis compared to the first quarter.
- 3
Second quarter e-commerce revenues grew 4% (3% in constant currency), led by Americas and EMEA, with growth across Calvin Klein and Tommy Hilfiger.
- 4
Second quarter non-GAAP operating margin was above guidance, reflecting stronger gross margin and higher AUR values in Americas and APAC, alongside continued cost discipline.
- 5
The company reaffirmed its full year revenue, operating margin, and EPS outlook on a non-GAAP basis.
- 6
Second quarter GAAP net loss was $(102.9) million, or $(2.23) per share, impacted by a $439 million pre-tax noncash goodwill impairment charge.
- 7
Second quarter non-GAAP diluted EPS was $3.70, exceeding guidance of $3.00 to $3.10.
Management Comments
Stefan Larsson
In the second quarter, we delivered revenue in line with our guidance and profitability exceeding expectations, reflecting our disciplined execution of the PVH+ Plan across our two iconic brands, Calvin Klein and TOMMY HILFIGER. We continued to build momentum in DTC, with growth in both Americas and APAC and improved performance in EMEA compared to last quarter. E-commerce grew across both brands, including strong increases in online traffic. In both brands we are seeing early momentum for the new fall season in product and marketing, with a very positive consumer response to our recently-launched campaigns featuring Tate McRae for Calvin Klein and Travis Kelce for TOMMY HILFIGER. Looking forward, we are reaffirming our top and bottom line outlook for the full year. We remain intensely focused on executing the PVH+ Plan, further strengthening product, consumer engagement and the marketplace experience. At the same time, we are stepping up our cost actions, and we continue to invest behind strategic priorities and brands, with more exciting campaigns amplified by global mega talent coming later this fall. We are also very pleased to welcome Alexis Rollier as our new Chief Financial Officer. Alexis joins us with deep financial and operational experience, including over 8 years as the global CFO and COO at Sephora, where he had a strong track record of driving disciplined growth with significant profit expansion. I look forward to partnering with him as we continue to build Calvin Klein and TOMMY HILFIGER into their full potential and drive long-term shareholder value.
Melissa Stone
For the second quarter, we delivered or exceeded our guidance across all key financial metrics. Revenue across all three regions and licensing was in-line with our expectations and we expanded gross margin year-over-year, excluding tariff refunds. For the full year, we are reaffirming our outlook across revenue, gross margin, operating margin and EPS on a non-GAAP basis. As part of our ongoing PVH+ Plan execution, we remain focused on cost discipline and continue to strengthen our data- and demand-driven operating model, driving efficiency and productivity, while continuing high-value, brand-accretive investments, including stepped-up year-over-year marketing in the third quarter, to support the long-term growth of Calvin Klein and TOMMY HILFIGER.
Informational and educational content only. Not investment advice.