The quarter included $387.7 million in income tax expenses linked to goodwill and impairment charges, resulting in a net loss of $158.3 million versus earnings of $157.2 million a year earlier. The company continues to address operational challenges such as delays in Calvin Klein shipments following the launch of its global product studio. PVH reported Q4 adjusted operating margins of 10%, or 11.7% excluding a 170-basis-point tariff drag, surpassing the 9% guidance. Adjusted EPS came in at $3.82 versus $3.30 expected, driving a 4.8% gain in regular trading and a further 2.1% uptick in after-hours. The PVH+ plan has driven a 2.2% compounded annual growth rate in comparable sales in constant currencies, increased direct-to-consumer penetration from 44% to 50%, reduced the cost base by 300 basis points and shifted investment toward marketing and brand building.