PVH Corp. Reports $2.025 Billion Revenue with Net Income Turnaround

PVH Corp. reported a revenue of $2.025 billion for the thirteen weeks ended May 3, 2026, marking a 2% increase from $1.984 billion in the same period last year. The company's gross profit also saw a slight rise, reaching $1.186 billion, which represents a gross margin of 58.6%, consistent with the prior year. Notably, the company achieved a net income of $88 million, a significant turnaround from a net loss of $44.8 million in the previous year, reflecting a recovery in operational performance.

The financial results were bolstered by a favorable foreign currency translation impact of $87 million, which contributed to the overall revenue increase. However, the company faced challenges, particularly in the EMEA and Americas segments, where revenue growth was hindered by softer consumer demand attributed to ongoing geopolitical tensions and macroeconomic pressures. The Americas segment experienced a slight revenue decline of 1%, while the EMEA segment saw a modest increase of 2%. The APAC region, however, reported a 10% revenue increase, aided by favorable timing related to the Lunar New Year.

In terms of strategic developments, PVH Corp. completed the sale of its warehouse and distribution center in Jonesville, NC, for net proceeds of $38 million, which will result in a pre-tax gain of $25 million in the second quarter of 2026. The company is also in the midst of a multi-year initiative aimed at simplifying its operating model, which has already yielded annualized cost savings exceeding $200 million. This initiative is part of the broader PVH+ Plan, which focuses on enhancing the Calvin Klein and Tommy Hilfiger brands.

Operationally, PVH Corp. reported a decrease in cash and cash equivalents to $593 million as of May 3, 2026, down from $701 million at the end of the previous quarter. The company’s total debt stood at approximately $2.282 billion, with a significant portion of its long-term debt at fixed interest rates. Looking ahead, PVH Corp. anticipates that its revenue for the full year 2026 will remain flat compared to 2025, with expectations of slight declines when excluding the impact of foreign currency translation. The company is also preparing for potential challenges related to ongoing geopolitical tensions and tariff impacts, which could affect its financial performance in the coming quarters.