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PVH Corporation: How Calvin Klein & Tommy Hilfiger Are Powering A D2C Growth Flywheel!

PVH Corp. reported fourth quarter and full year 2025 results that met or exceeded expectations across key financial metrics, demonstrating continued progress in its strategic focus on its two primary brands, Calvin Klein and Tommy Hilfiger. For the quarter, total revenue rose 6% on a reported basis but remained flat in constant currency, surpassing guidance. The company achieved better-than-anticipated gross margin performance with sequential improvements across regions, managing operating expenses prudently while increasing marketing investments behind its flagship brands. Non-GAAP operating margin for the quarter reached 10%, adjusted to 11.7% excluding a 170 basis point tariff headwind. Full year revenue grew 3% reported and slightly in constant currency, with an operating margin of 8.8% despite tariff impacts, surpassing guidance. Earnings per share on a non-GAAP basis were $11.40 for 2025, down from $11.74 in the prior year.