PVH Corp. Sees Sales Boost from Tommy Hilfiger, Cuts Full-Year Profit Forecast Due to Tariffs*

*PVH Corp. Sees Sales Boost from Tommy Hilfiger, Cuts Full-Year Profit Forecast Due to Tariffs*

-PVH Corp., the parent company of Calvin Klein and Tommy Hilfiger, reported a 2% increase in first-quarter sales to $1.984 billion, driven by growth at its Tommy Hilfiger brand. The company’s sales beat expectations, with Tommy Hilfiger’s revenue rising 3% due to strong performance in the EMEA and Americas regions.

According to Stefan Larsson, CEO of PVH, “We continued to tap into the global consumer love for Calvin Klein and Tommy Hilfiger, delivering revenue growth versus last year and ahead of guidance.” The company saw a significant impact from the Calvin Klein’s Icon Cotton Stretch franchise and the viral Bad Bunny campaign, as well as Tommy Hilfiger’s rich product storytelling and collaboration with the movie “F1 The Movie.”

However, PVH cut its full-year profit forecast due to the negative impact of tariffs on goods coming into the US. The company now expects adjusted earnings per share to range from $10.75 to $11, down from the previous forecast of $12.40 to $12.75.

Despite the challenges, PVH reaffirmed its sales outlook for the full year, expecting flat to slightly increased sales. The company’s CEO emphasized that they are focused on what they can control, stepping up their actions to scale the impact of their stronger product and next-level campaigns.

Tommy Hilfiger brand sales rose 3% in Q1, driven by growth in EMEA and Americas regions, while Calvin Klein brand sales were flat in Q1. Americas revenue jumped 7%, while EMEA sales rose 5%. APAC sales plummeted 13% due to a challenging consumer environment and timing of Lunar New Year shopping period. Licensing revenue decreased 2% due to transition of certain women’s product categories in-house.

PVH expects flat to slightly increased sales for the full year, with adjusted earnings per share expected to range from $10.75 to $11, down from previous forecast of $12.40 to $12.75 due to tariff impact.