Calvin Klein-owner PVH reported fourth-quarter 2025 revenue and earnings ahead of its guidance while projecting modest growth for 2026 amid ongoing tariff-related challenges.
Revenue for the quarter rose 6% year-on-year (YoY) to $2.50bn, surpassing the company’s expectation of a slight to low single-digit increase.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
On a constant currency basis, sales were flat, performing better than the anticipated slight decline.
Earnings before interest and taxes (EBIT) came in at $248.8m, up from $210.2m in the same period last year.
However, the company posted a net loss of $158.3m, compared with net income of $157.2m a year earlier.
The quarterly results included a net negative tariff impact of approximately $0.70 per share, partly offset by mitigation measures and a $0.33 benefit from foreign currency translation.
Across regions, revenue in EMEA increased 8% while the Americas recorded a 4% rise.
Asia-Pacific remained flat, with performance affected by the timing of the Lunar New Year.
By brand, Tommy Hilfiger revenue grew 7%, and Calvin Klein increased 3%.
Direct-to-consumer sales edged up 1% while wholesale revenue rose 11%, supported by the transition of product categories to in-house operations.
For the full year, PVH reported revenue of $8.95bn, a 3% increase YoY and in line with its guidance.
EBIT for the year totalled $230.6m, compared with $772.3m in the prior year.
Net income for the year declined to $25.3m from $598.5m while earnings per share were $0.52, impacted by $480m in non-cash impairment charges recorded earlier in the year.
The company repurchased 7.7 million shares for $561m in 2025 and plans to allocate at least $300m towards share buybacks this year.
Looking ahead, PVH expects revenue to increase slightly in 2026.
Its outlook assumes a 15% tariff rate on goods entering the US from 24 February 2026, with an estimated gross EBIT impact of $195m, or approximately $3.30 per share, partially offset by mitigation actions.
For the first quarter of 2026, the company anticipates slight revenue growth.
PVH added that its outlook excludes any potential escalation in the Middle East conflict and assumes no material deterioration in current conditions.
