Research Reports

Key takeaways

Revenue reached $9.0B, up 3.4% from $8.7B, supported by favorable foreign currency translation despite planned strategic reductions in EMEA sales volume to improve quality.

Gross profit increased to $5.1B from prior year, yielding 57.5% gross margin as product costs declined.

Net income was $25.3M or $0.52 diluted EPS, down from $598.5M and $10.56 due to lower operating results.

Operating cash flow was $680M, down from $741M primarily from reduced net income and working capital changes including inventories.

Free cash flow of $538M resulted from $680M operating cash flow less $142M capital expenditures, down from prior $158M spend.

Full analysis

PVH Corp.'s fiscal 2025 results reflect disciplined cost management offsetting revenue headwinds from strategic portfolio shifts. Revenue grew 3.4% to $9.0 billion, driven by favorable foreign currency translation that masked underlying declines in direct-to-consumer and wholesale channels. Excluding FX impacts, revenue decreased due to planned reductions in EMEA sales volume, executed to enhance overall sales quality in the region—a proactive move to prioritize higher-margin business amid competitive pressures.

PVH · PVH Corp.

Summary

Key takeaways

Full analysis