PVH Q2 revenue falls on wholesale weakness
PVH•Q2 revenue and EPS
PVH Corp's second-quarter revenue fell 3% but slightly beat analyst expectations, while adjusted EPS beat estimates, aided by tariff refunds and cost discipline.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Slight Beat* | $2.10 bln | $2.09 bln (12 Analysts) |
| Q2 Adjusted EPS | Beat | $3.70 | $3.08 (12 Analysts) |
| Q2 Loss Per Share | $2.23 | ||
| Q2 Net Loss | $102.90 mln | ||
| Q2 EBIT | -$190.90 mln | ||
| Q2 Gross Profit | $1.32 bln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
What drove the quarter
- Tariff refunds - Q2 gross margin and non-GAAP operating margin benefited from $107 mln in tariff refunds, contributing about 510 basis points to margin and $1.80 per share to EPS.
- Wholesale weakness - Revenue declined in EMEA and the Americas due to soft consumer demand and a drop in wholesale business, with EMEA impacted by macroeconomic and geopolitical factors.
- DTC and e-commerce growth - Direct-to-consumer and e-commerce revenues grew in the Americas and APAC, partially offsetting declines in wholesale.
