Strong Fourth Quarter and Full Year Performance
PVH Corp. over-delivered on both top and bottom lines versus guidance, with stronger than expected revenue on a constant currency basis and higher than expected non-GAAP EPS. Gross margin increased by 120 basis points to a new record.
Calvin Klein and Tommy Hilfiger Brand Strength
Both brands connected to the zeitgeist, driving record consumer engagement and improved relevance and sell-through of Fall '24 product assortment. Significant brand-building achievements, including a flagship Calvin Klein store opening on Champs Elysees in Paris.
North America Profitability
Significant increase in profitability for North America, with Calvin and Tommy businesses delivering EBIT dollars up 40% and achieving an 11.9% EBIT margin for the year, up more than 350 basis points year over year.
European Market Growth
Europe showed two consecutive quarters of growth in retail stores and improved wholesale order books. Fall '25 order books returned to growth with low single digits across both Tommy and Calvin.
Asia Pacific Growth
Despite macroeconomic challenges, Asia Pacific delivered low single-digit revenue growth in constant currency, with China increasing 3%, benefiting from an earlier Lunar New Year.
Record High Non-GAAP EPS
Achieved record high non-GAAP earnings per share of $11.74, up 10% versus 2023, exceeding initial guidance.