PVH Revenue Beats Estimates as Calvin Klein Sales Drive Growth

PVH Corp. reported Q4 2025 earnings that surpassed analyst expectations, fueled by continued momentum at its core Calvin Klein and Tommy Hilfiger brands. Total revenue increased 5% year-over-year to $2.63 billion, beating the consensus estimate of $2.60 billion. Same-store sales grew 4%, with both flagship brands posting positive comparable sales growth.

The company's gross margin contracted by 150 basis points to 50.8% due to increased cost pressures. Management explicitly attributed a significant portion of this pressure to recently implemented tariffs on goods imported from China, estimating a negative impact of approximately $45 million on the quarter's gross profit.

"Our teams delivered a strong quarter, driven by the enduring power of our brands and the disciplined execution of our strategic priorities," said Stefan Larsson, CEO of PVH Corp., on the call. He noted that the company's direct-to-consumer channel continued to grow at a double-digit clip, now representing over 35% of total revenue.

Looking ahead, PVH maintained its full-year fiscal 2026 guidance, projecting low-single-digit revenue growth. The company is actively working to mitigate tariff impacts through supply chain adjustments, including increased production in alternative sourcing regions like Vietnam and Indonesia, and selective price increases. CFO Stefan Larsson stated the company expects the tariff headwind to moderate in the second half of the year as mitigation strategies take fuller effect.