PVH Corp. Reports $1.984 Billion Revenue with Net Loss of $44.8 Million for Thirteen Weeks Ended May 4, 2025

PVH Corp. reported a revenue of $1.984 billion for the thirteen weeks ended May 4, 2025, marking a 2% increase from $1.952 billion in the same period last year. However, the company experienced a net loss of $44.8 million, or $(0.88) per share, compared to a net income of $151.4 million, or $2.63 per share, in the prior year. The decline in profitability was significantly impacted by noncash impairment charges of $480 million related to goodwill and other intangible assets, primarily due to increased discount rates. Gross profit for the quarter was $1.162 billion, representing a gross margin of 58.6%, down from 61.4% in the previous year.

The company’s financial performance was affected by several operational changes and market conditions. Revenue growth was driven by a 5% increase in the EMEA segment and a 7% increase in the Americas segment, while the APAC segment saw a decline of 13%. The transition of previously licensed women’s product categories to in-house operations contributed to revenue growth in the Americas but also impacted gross margins negatively. Additionally, PVH Corp. has been navigating a challenging retail environment characterized by inflationary pressures and increased tariffs on imported goods, which are expected to have a continued adverse effect on profitability.

In terms of strategic developments, PVH Corp. has initiated a multi-year initiative to simplify its operating model, which is expected to yield annual cost savings of approximately $200 million to $300 million by 2026. The company also completed the sale of its women’s intimates businesses, generating net proceeds of $156 million. As part of its ongoing efforts to enhance shareholder value, PVH Corp. entered into accelerated share repurchase agreements totaling $500 million, funded by cash on hand and short-term borrowings.

Operationally, PVH Corp. reported a total employee headcount of approximately 51,100 as of May 4, 2025, reflecting ongoing adjustments in response to market conditions. The company’s inventory levels increased to $1.596 billion, up from $1.346 billion a year earlier, as it prepared for anticipated sales growth. The company’s cash and cash equivalents decreased to $191 million, down from $748 million at the end of the previous quarter, primarily due to share repurchase activities.

Looking ahead, PVH Corp. anticipates that revenue for the full year 2025 will be flat to slightly increase compared to 2024, with the impact of foreign currency translation expected to be immaterial. However, the company remains cautious about the macroeconomic environment, including potential further tariff impacts and consumer demand fluctuations, which could significantly affect its financial performance. The company is committed to executing its strategic initiatives while managing the challenges posed by the current economic landscape.