PVH Posts Q1 Net Loss, Cuts 2025 Outlook

PVH Corp., the parent of Calvin Klein and Tommy Hilfiger, reported first-quarter adjusted earnings per share of $2.30 and revenue of $1.98 billion, both exceeding analyst expectations. Despite the beat, the company sharply reduced its full-year adjusted earnings outlook to $10.75-$11.00 per share from $12.40-$12.75, citing tariffs, macroeconomic uncertainty, and weakness in the U.S. and China. PVH posted a net loss for the quarter due to significant impairment charges, while its operating margin declined sharply. Tommy Hilfiger achieved 3% sales growth, mainly in Europe and the Americas, and Calvin Klein benefited from major campaigns. Overall, revenue growth has been modest and five-year demand has remained flat. PVH maintained its full-year revenue outlook as flat to slightly positive and is focusing on marketing, cost savings, and supply chain adjustments to offset tariff impacts.