Overview
- PVH, which detailed results on Wednesday’s call, beat expectations in Q4 with adjusted EPS of $3.82, a 10% adjusted operating margin that rose to 11.7% excluding tariffs, and $2.5 billion in revenue.
- On a GAAP basis the company posted a net loss of $158.3 million after a $387.7 million income tax expense tied to earlier goodwill and impairment charges.
- The 2026 outlook assumes a 15% U.S. import tariff that began February 24 and creates about a $195 million gross headwind, with management guiding to flat to slightly higher revenue, roughly 8.8% adjusted operating margin, and EPS of $11.80 to $12.10.
- Management said Hulu’s Love Story boosted Calvin Klein searches, site traffic, and direct‑to‑consumer activity, and that Tommy Hilfiger’s new Travis Kelce partnership is resonating, with most sales impact expected in fiscal 2026.
- PVH’s PVH+ plan has lifted direct‑to‑consumer sales to 50% of the mix and cut its cost base by roughly 300 basis points, and the company plans a double‑digit increase in marketing this year to build demand.