PVH Corp., formerly Phillips-Van Heusen Corporation, is a global leader in the apparel industry, headquartered in New York City. Founded in 1881 by Moses Phillips, the company has evolved into a powerhouse with a portfolio of iconic brands. Its operations are segmented into six key divisions: Tommy Hilfiger North America, ...PVH Corp., formerly Phillips-Van Heusen Corporation, is a global leader in the apparel industry, headquartered in New York City. Founded in 1881 by Moses Phillips, the company has evolved into a powerhouse with a portfolio of iconic brands. Its operations are segmented into six key divisions: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. The company designs and markets a wide range of products including dress shirts, jeans, sportswear, performance wear, intimate apparel, swimwear, footwear, handbags, and lifestyle accessories such as watches, jewelry, eyewear, and fragrances, as well as home goods like bedding and bath products. PVH's brand portfolio includes globally recognized names like Tommy Hilfiger and Calvin Klein, along with established labels such as Van Heusen, IZOD, ARROW, Warner's, Olga, Geoffrey Beene, and True&Co. The company also licenses its brands for various product categories. PVH employs a multi-channel distribution strategy, selling wholesale to department stores, chain stores, specialty retailers, warehouse clubs, and off-price outlets, while also operating its own full-price and outlet stores, concessions, and digital commerce platforms. With a presence in approximately 40 countries, PVH serves a broad consumer base. As of the latest data, the company has around 26,000 employees and generates annual revenues of approximately $8.95 billion. Financially, PVH shows a market capitalization of about $4.04 billion, with a price-to-earnings ratio of 26.31 and a debt-to-equity ratio of 0.863. The company has a gross profit margin of 57.5% and a net profit margin of 1.8%. Under the leadership of CEO Stefan Larsson, who joined in 2021, PVH aims to build Calvin Klein and Tommy Hilfiger into the most desirable lifestyle brands globally. The company is also committed to sustainability and social initiatives, such as the PVH Foundation's 'Runway Ahead' program. Overall, PVH remains a significant player in the fashion industry, leveraging its strong brand equity and strategic operations to drive growth.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$9.0B
+3.4%
+3.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$25.3M
-95.8%
-216.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+57.5%
-2.7%
+7.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+7.3%
-7.4%
+70.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+0.3%
-95.9%
-212.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$538.4M
-7.5%
-115.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+6.0%
-10.6%
-115.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
89.7%
+36.0%
+0.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.52x
+19.3%
-1.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Good morning, everyone, and welcome to today's PVH Second Quarter 2025 Earnings Conference Call. Please note this call may be recorded, and that I will be standing by should you need any assistance. It is now my pleasure to turn today's program over to Sheryl Freeman, Senior Vice President of Investor Relations. Please go ahead.
Sheryl FreemanSenior Vice President of Investor RelationsSentiment 0.0
Thank you, operator. Good morning, everyone, and welcome to the PVH Corp. Second Quarter 2025 Earnings Conference Call. Leading the call today will be Stefan Larsson, Chief Executive Officer; and Zac Coughlin, Chief Financial Officer. This webcast and conference call is being recorded on behalf of PVH and consists of copyrighted material. It may not be recorded, rebroadcast or otherwise transmitted without PVH's written permission. Your participation constitutes your consent to having anything you say appear on any transcript or replay of this call. The information to be discussed includes forward-looking statements that reflect PVH's view as of August 26, 2025, of future events and financial performance. These statements are subject to risks and uncertainties indicated in the company's SEC filings and the safe harbor statement included in the press release that is the subject of this call. These include PVH's right to change its strategies, objectives, expectations and intentions and the company's ability to realize anticipated benefits and savings from divestitures, restructuring and similar plans such as the actions undertaken to focus principally on its Calvin Klein and Tommy Hilfiger businesses and its current multiyear initiative to simplify its operating model and achieve cost savings. PVH does not undertake any obligation to update publicly any forward-looking statement, including, without limitation, any estimate regarding revenue or earnings. Generally, the financial information and projections to be discussed will be on a non-GAAP basis as defined under SEC rules. Reconciliations to GAAP amounts are included in PVH's second quarter 2025 earnings release, which can be found on www.pvh.com, and in the company's current report on Form 8-K furnished to the SEC in connection with the release. At this time, I am pleased to turn the conference over to Stefan Larsson.
Stefan LarssonCEOSentiment 0.9
Thank you, Sheryl, and good morning, everyone, and thank you for joining our call today. I want to start by thanking our teams around the world for delivering a better-than-expected second quarter. We beat our guidance on both the top and bottom line as we grew revenue 4% on a reported basis, achieved our 1% revenue growth guidance on a constant currency basis and drove better-than-expected gross margin performance and EBIT margins. Total direct-to-consumer revenue was flat in constant currency, a sequential improvement compared to the first quarter, including a sequential improvement each month throughout the quarter. We grew wholesale revenue by low single digits in constant currency benefiting from the intake and relaunch of the Calvin Klein women's …
