PVH Corp. Reports Revenue Decline and Net Loss in Q2 of Fiscal 2026

PVH Corp. reported a decline in financial performance for the second quarter and first half of fiscal 2026, as detailed in its latest 10-Q filing. For the thirteen weeks ended August 2, 2026, the company generated revenue of $2.097 billion, a decrease of 3% from $2.167 billion in the same period last year. The twenty-six week revenue also saw a slight decline, totaling $4.122 billion compared to $4.151 billion in the prior year. The company recorded a net loss of $102.9 million for the quarter, translating to a loss of $2.23 per diluted share, compared to a net income of $224.2 million, or $4.63 per diluted share, in the previous year.

The decrease in revenue was attributed to several factors, including a decline in wholesale business, particularly in the EMEA region, which faced soft consumer demand due to ongoing geopolitical tensions and macroeconomic pressures. The Americas segment also experienced a slight revenue drop, primarily due to a shift in the timing of wholesale shipments. In contrast, the APAC region reported a modest revenue increase of 3%, aided by growth in direct-to-consumer sales. The company noted that the transition of previously licensed product categories to direct management contributed to a net increase in revenue but also impacted gross margins.

Strategically, PVH Corp. is undergoing a multiyear initiative known as the PVH+ Plan, aimed at simplifying its operating model and enhancing efficiency. This includes the direct management of certain product categories previously licensed to G-III Apparel Group. The company reported a pre-tax noncash goodwill impairment charge of $439 million during the quarter, reflecting changes in valuation assumptions due to geopolitical and macroeconomic factors. Additionally, PVH completed the sale of a warehouse and distribution center, resulting in a pre-tax gain of $25.4 million.

Operationally, the company reported a gross profit of $1.322 billion for the quarter, representing a gross margin of 63%, an increase from 57.7% in the prior year, largely due to tariff refunds and lower product costs. Selling, general, and administrative expenses were $1.113 billion, slightly down from $1.129 billion, but as a percentage of revenue, they increased to 53.1%. The company ended the quarter with cash and cash equivalents of $966 million, a significant increase from $701 million at the beginning of the fiscal year, providing a solid liquidity position.

Looking ahead, PVH Corp. anticipates that revenue for the full year 2026 will be approximately flat compared to 2025, with expectations of a slight decrease when excluding the impact of foreign currency translation. The company remains cautious about the ongoing geopolitical tensions and macroeconomic conditions, which could further affect consumer demand and operational performance.