PVH Cuts 2026 Outlook to Flat After Q1 $2.03B Revenue Beat
PVH•PVH posted first-quarter revenue of $2.03 billion and adjusted EPS of $2.01, surpassing estimates. The company cut its full-year revenue growth forecast to flat from modest increases due to prolonged Middle East conflict effects on EMEA consumers while maintaining an 8.8% operating margin target.
1. Strong Q1 Performance
PVH delivered first-quarter revenue of $2.03 billion and adjusted EPS of $2.01, exceeding expectations. Net income totaled $88 million, with direct-to-consumer revenue rising 6% (3% in constant currency) and operating margin at the high end of guidance.
2. Full-Year Outlook Cut
The company revised its full-year revenue growth to flat from modest increases, citing prolonged Middle East conflict pressures on EMEA consumer demand. It maintained a non-GAAP operating margin forecast of about 8.8%, noting expected tariff refunds to partially offset headwinds.
3. Strategic Investments and Brand Momentum
Enhanced spring marketing campaigns, e-commerce platform investments and store upgrades supported brand engagement across Calvin Klein and Tommy Hilfiger. Key categories such as Calvin Klein denim and Tommy Hilfiger outerwear delivered growth, underscoring ongoing product innovation.
