PVH Sees Gains in Calvin Klein, Tommy Hilfiger Amidst Challenges
PVH Corp. provided an update on its turnaround plan at the Goldman Sachs Global Consumer and Retail Conference, indicating that its Calvin Klein and Tommy Hilfiger brands are gaining traction despite facing challenges from tariffs, cautious wholesale ordering, and a mixed consumer backdrop.
The company's PVH+ Plan is shifting focus from rebuilding the brands to improving growth and margins. Both Calvin Klein and Tommy Hilfiger saw stronger e-commerce traffic and better product pricing in key categories. The company maintained its 2026 guidance of an 8.8% EBIT margin, including a tariff refund benefit.
PVH identified $45 million in annualized cost savings, with the remaining benefits expected to flow into 2027. Management expressed caution for the second half of 2026 but remains optimistic about 2027 and beyond. The company aims for low single-digit revenue growth over time and seeks to return to double-digit margins under the PVH+ Plan.