PVH Corp.
pvh.comWhat Do They Do?
Designs and sells apparel, footwear and accessories under the TOMMY HILFIGER and Calvin Klein brands to consumers through stores and online, and to retailers, distributors and franchisees.
10-K for FY2025, filed Mar 31, 2026We are one of the largest global apparel companies in the world. We have approximately 26,000 associates, operate in more than 40 countries…View ↗
We design and market branded sportswear (casual apparel), jeanswear, performance apparel, intimate apparel, underwear, swimwear, dress…View ↗
We operate across Europe, the Middle East and Africa (“EMEA”), the Americas and the Asia-Pacific region (“APAC”). Our directly operated…View ↗
The TOMMY HILFIGER brands principally consist of TOMMY HILFIGER and TOMMY JEANS, which build on a legacy of groundbreaking partnerships…View ↗
The Calvin Klein brands consist of Calvin Klein, Calvin Klein Jeans, Calvin Klein Underwear, Calvin Klein Sport, and Calvin Klein…View ↗
How Do They Make Money?
Retail customers pay when they buy in stores or when online orders are delivered. Wholesale buyers pay after products ship or arrive, typically within 30 to 90 days; licensees pay royalties and sometimes advertising fees, generally quarterly.
10-K for FY2025, filed Mar 31, 2026The Company generates revenue from the wholesale distribution of its products to traditional retailers (including for sale through their…View ↗
The Company also generates revenue from the retail distribution of its products through its freestanding stores, shop-in-shop/concession…View ↗
The Company generates revenue from licensing the rights to access its trademarks to third parties, including the Company’s joint ventures.…View ↗
In addition to the rights to access its trademarks, the Company provides ongoing support to its licensees over the term of the agreements.…View ↗
Under the terms of the license agreements, payments generally are due quarterly from the licensees. The Company records deferred revenue…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by reportable segment ↗
$9B
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10-K for FY2025, filed Mar 31, 2026
$9B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
EMEA Segment
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
48% |
EMEA Segment, FY2025
$4.3B Sources
|
Sold outright |
|
Americas Segment
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
31% |
Americas Segment, FY2025
$2.7B Sources
|
Sold outright |
|
APAC Segment
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
17% |
APAC Segment, FY2025
$1.5B Sources
|
Sold outright |
|
Licensing Segment
Licensed
|
4.7% |
Licensing Segment, FY2025
$421.2M Sources
|
Licensed |
Who Are Their Customers?
Department and specialty stores, online retailers, distributors and franchisees buy products wholesale; consumers buy through company stores and websites. Wholesale sales are made directly to these buyers.
10-K for FY2025, filed Mar 31, 2026Wholesale — principally consists of the distribution and sale of products in EMEA, Americas and APAC under the TOMMY HILFIGER brands…View ↗
Wholesale — principally consists of the distribution and sale of products in EMEA, Americas and APAC under the Calvin Klein brands…View ↗
We generate net sales from (i) the wholesale distribution to traditional retailers (both for stores and digital operations), pure play…View ↗
Do Revenues Turn Into Profits?
Yes. It kept less than a cent of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.
10-K for FY2025, filed Mar 31, 2026
$230.6MView ↗
10-K for FY2025, filed Mar 31, 2026
$25.3MView ↗
10-K for FY2025, filed Mar 31, 2026
$538.4MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Sep 2, 2026
−$102.9MView ↗
- ▼ Now a loss
- vs $224.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Sep 2, 2026
Open tableView ↗
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Sep 2, 2026
PVH reaffirmed its full-year outlook after second-quarter results
It reaffirmed full-year revenue, operating margin and EPS outlook on a non-GAAP basis.
Sources
8-K, filed Sep 2, 2026
PVH CORP. REPORTS 2026 SECOND QUARTER RESULTS AND REAFFIRMS FULL YEAR OUTLOOKView ↗
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Jul 14, 2026
Alexis Rollier appointed chief financial officer
He will replace interim CFO Melissa Stone and join in early September 2026.
Sources
8-K, filed Jul 14, 2026
PVH Corp. (the “Company”) announced on July 14, 2026 that it had entered into an employment agreement (the “Employment Agreement”) dated as…View ↗
Flat. Revenue was $9B in FY2025, about the same as the $9.2B of FY2021.
More direct operation
The older report planned to bring most licensed product categories in-house; the latest report says it directly operates a significant portion and expects to re-license the remainder as agreements expire.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 31, 2026We extended in November 2022 most of our licensing agreements with G-III Apparel Group, Ltd. (“G-III”) for Calvin Klein and TOMMY HILFIGER…View ↗
We extended in November 2022 most of our licensing agreements with G-III Apparel Group, Ltd. (“G-III”) for Calvin Klein and TOMMY HILFIGER…View ↗
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