PVH

PVH is an apparel company based in New York that owns two global brands, Calvin Klein and TOMMY HILFIGER. It sells clothing, underwear, jeans and accessories through its own stores and websites, through department stores and other wholesale customers, and through licensees. It reports three regions: Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC). PVH is moving some product categories that licensees made in North America back in house, and it expects these license transitions to be complete by the end of 2026.

The market prices PVH for weak demand in Europe and in wholesale, and for doubt that its two brands can grow again. In Q2 2026, revenue fell 3%, EMEA revenue fell 6% and wholesale revenue fell 6%. PVH links the weak EMEA demand to the prolonged effects of the conflict in the Middle East. It also recorded a $439 million goodwill impairment in Q2 2026.

Its Q2 non-GAAP EPS of $3.70 included about $1.80 per share from tariff refunds, so the underlying profit was much lower. For the gap to close, PVH must reach its 2026 outlook of about flat revenue, a non-GAAP operating margin of about 8.8% and non-GAAP EPS of $11.80 to $12.10. Direct-to-consumer sales must keep growing, Calvin Klein wholesale shipments must return in the second half of 2026, and EMEA must stabilize. PVH must also buy back at least $300 million of shares in 2026, as it plans.

The Q3 2026 report, expected in early December 2026, is the next test. If these checks pass, the gap can close over the next four to six quarters. The main reason it may not close is a longer period of weak consumer demand in Europe.

1. Dec 2, 2026 · est.Pending

   Q3 2026 earnings: EMEA and marginNon-GAAP EPS within the $2.50 to $2.65 guidance and a kept full-year outlook pass; a cut to the $11.80 to $12.10 outlook fails.
2. Mar 2027 · est.Pending

   Full-year 2026 results and the 2027 outlookA 2027 outlook with revenue growth and a higher operating margin passes; another year of falling revenue fails.

Every passed and failed checkpoint across all picks

• November 2, 2026PVH appointed Frits Dirk van Paasschen to its board, effective at once. He was the CEO of Starwood Hotels and Resorts and of Coors Brewing, and he sits on the boards of DSM-Firmenich, Amadeus IT Group and Williams-Sonoma. PVH said that the appointment is part of its board refresh.
• October 28, 2026PVH declared a quarterly dividend of $0.0375 per share. It is payable on December 16, 2026, to shareholders of record on November 25, 2026.
• September 2, 2026PVH reported Q2 2026 results. Revenue fell 3% to $2.097 billion. EMEA revenue fell 6%, Americas revenue fell 1% and APAC revenue rose 3%. GAAP EPS was a loss of $2.23 because of a $439 million goodwill impairment, and non-GAAP EPS was $3.70, including about $1.80 per share from tariff refunds. PVH kept its 2026 outlook of about flat revenue, a non-GAAP operating margin of about 8.8% and non-GAAP EPS of $11.80 to $12.10.

Last earnings

September 2, 2026 (8-K on sec.gov)

Next earnings

Expected about December 2, 2026. The company has not confirmed the date.

• 8-KChange of directors or officersFiled November 2, 2026 · Read it on sec.gov
• 8-KOther company newsFiled October 28, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Aug 2, 2026Filed September 2, 2026 · pvh-20260802
• 8-KEarnings releaseFiled September 2, 2026 · Press release and exhibits
• 8-KOther company newsFiled August 5, 2026 · Read it on sec.gov
• 8-KChange of directors or officers and Other company newsFiled July 14, 2026 · Read it on sec.gov
• 8-KNew material agreement and End of a material agreementFiled June 29, 2026 · Read it on sec.gov
• 8-KChange of directors or officers and Shareholder vote resultsFiled June 24, 2026 · pvh-20260618
• 10-QQuarterly report for the period ended May 3, 2026Filed June 5, 2026 · pvh-20260503
• 8-KEarnings releaseFiled June 3, 2026 · Press release and exhibits

Every filing on SEC EDGAR (CIK 78239)

• EMEA demand is weak, and PVH links it to the effects of the conflict in the Middle East. A longer slowdown in Europe lowers revenue and margins.
• Wholesale revenue fell 6% in Q2 2026, and the North America license transitions lower licensing revenue in 2026. If wholesale customers keep cutting orders, revenue keeps falling.
• Tariffs raise product costs. The $107 million of tariff refunds in Q2 2026 do not repeat, and new tariffs can lower the gross margin.
• The goodwill impairment of $439 million in Q2 2026 shows that the value of parts of the business fell. A new CFO joined in September 2026.

PVH has moderate debt and more cash than a year ago. At August 2, 2026, debt was $2.25 billion: long-term debt of $2.24 billion and current maturities of $12 million. Read more

Yield at the current rate

0.2% (current annual rate, at today’s price)

Dividend yield

0.2% (last 12 months, at today’s price of $92.02)

Paid per share

$0.152 in the last 12 months (4 payments)

Current annual rate

$0.152 ($0.038 × 4 a year)

Payout ratio

29% of the last fiscal year’s earnings (the year that ended February 1, 2026)

Latest ex-dividend date

September 2, 2026, $0.038 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 32.0% a year. From 2015 to 2025, the dividend grew by about 0.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.