PVH beats Q4 guidance, flags tariff pressure in 2026 outlook

Calvin Klein-owner PVH reported fourth-quarter 2025 gross and net up of its guidance portion projecting humble maturation for 2026 amid ongoing tariff-related challenges.

Revenue for the 4th roseate 6% year-on-year (YoY) to $2.50bn, surpassing the company’s anticipation of a flimsy to debased single-digit increase.

On a changeless currency basis, income were flat, performing amended than the anticipated flimsy decline.

Earnings earlier involvement and taxes (EBIT) came successful astatine $248.8m, up from $210.2m successful the aforesaid play past year.

However, the institution posted a nett nonaccomplishment of $158.3m, compared with nett income of $157.2m a twelvemonth earlier.

The quarterly results included a nett antagonistic tariff interaction of astir $0.70 per share, partially offset by mitigation measures and a $0.33 payment from overseas currency translation.

Across regions, gross successful EMEA accrued 8% portion the Americas recorded a 4% rise.

Asia-Pacific remained flat, with show affected by the timing of the Lunar New Year.

By brand, Tommy Hilfiger gross grew 7%, and Calvin Klein accrued 3%.

Direct-to-consumer income edged up 1% portion wholesale gross roseate 11%, supported by the modulation of merchandise categories to in-house operations.

For the afloat year, PVH reported gross of $8.95bn, a 3% summation YoY and successful enactment with its guidance.

EBIT for the twelvemonth totalled $230.6m, compared with $772.3m successful the anterior year.

Net income for the twelvemonth declined to $25.3m from $598.5m portion net per stock were $0.52, impacted by $480m successful non-cash impairment charges recorded earlier successful the year.

The institution repurchased 7.7 cardinal shares for $561m successful 2025 and plans to allocate astatine slightest $300m towards stock buybacks this year.

Looking ahead, PVH expects gross to summation somewhat successful 2026.

Its outlook assumes a 15% tariff complaint connected goods entering the US from 24 February 2026, with an estimated gross EBIT interaction of $195m, oregon astir $3.30 per share, partially offset by mitigation actions.

For the archetypal 4th of 2026, the institution anticipates flimsy gross growth.

PVH added that its outlook excludes immoderate imaginable escalation successful the Middle East struggle and assumes nary worldly deterioration successful existent conditions.

"PVH beats Q4 guidance, flags tariff unit successful 2026 outlook" was primitively created and published by Retail Insight Network, a GlobalData owned brand.

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