PVH Q2 profitability and EPS guidance beat; full-year outlook reaffirmed

PVH (NYSE: PVH ) reported second-quarter financial results on Thursday.

The transcript from the company's second-quarter earnings call has been provided below.

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View the webcast at Summary PVH Corp. reported second-quarter 2026 revenue in line with guidance, with strong performance in direct-to-consumer (D2C) channels, especially in the Americas and APAC regions, despite a challenging wholesale environment in Europe.

The company beat profitability guidance with improved gross margins, excluding tariff refunds, and ended the quarter with inventory levels down 3% year-over-year, positioning well for the fall and holiday seasons.

PVH is focusing on driving growth in licensing, expecting the transition of its women's North America wholesale categories to be complete by the end of 2026, and aims for overall licensing growth starting in 2027.

Strategic marketing initiatives, including collaborations with high-profile figures like Jungkook and Travis Kelce, have driven significant consumer engagement and e-commerce growth, particularly among Gen Z and younger Millennials.

The company reaffirmed its full-year guidance for flat reported revenue and an operating margin of approximately 8.8%, with EPS expected to range between $11.80 and $12.10, while maintaining a focus on cost management and efficiency improvements.

Full Transcript OPERATOR Good morning everyone, and welcome to today's PVH second quarter 2026 earnings conference call.

At this time, all participants are in a listen-only mode.

Later, you will have an opportunity to ask questions during the question-and-answer session.

You may register to ask a question at any time by pressing the star and one keys on your touch-tone phone.

Please note this call may be recorded, and that I will be standing by should you need any assistance.

It is now my pleasure to turn today's program over to Kate Howard, Senior Director of Investor Relations.

Kate Howard, Senior Director of Investor Relations Thank you, operator.

Good morning everyone, and welcome to the PVH Corp. second quarter 2026 earnings conference call.

Leading the call today will be Stefan Larsson, Chief Executive Officer, and Melissa Stone, Interim Chief Financial Officer and Executive Vice President, Global Financial Planning and Analysis.

Alexi Rollier, our incoming Chief Financial Officer, has joined PVH, and we look forward to having him lead our third quarter 2026 earnings conference call along with Stefan.

This webcast and conference call is being recorded on behalf of PVH and consists of copyrighted material.

It may not be recorded, rebroadcast, or otherwise transmitted without PVH's written permission.

Your participation constitutes your consent to having anything you say appear on any transcript or replay of this call.

The information to be discussed includes forward-looking statements that reflect PVH's view as of September 2, 2026 of future events and financial performance.

These statements are subject to risks and uncertainties indicated in the Company's SEC filings and the safe harbor statement included in the press release that is the subject of this call.

PVH does not undertake any obligation to update publicly any forward-looking statement, including without limitation any estimates regarding revenue or earnings generally.

The financial information and projections to be discussed will be on a non-GAAP basis as defined under SEC rules.

Reconciliations to GAAP amounts are included in PVH's second quarter 2026 earnings release, which can be found on and in the Company's current report on Form 8-K furnished to the SEC in connection with the release.

At this time, I am pleased to turn the conference over to Stefan Larsson.

Stefan Larsson, CEO Thank you, Kate, and good morning, everyone, and thank you for joining our call today.

I would like to start by acknowledging our Calvin Klein, Tommy Hilfiger, and PVH teams around the world.

Thanks to your hard work, we continue to make meaningful progress on our multiyear PVH Plan.

During the second quarter, we built momentum while navigating a dynamic environment, achieving our revenue guidance and beating on profitability.

This morning, I'm also thrilled to formally welcome our new Chief Financial Officer, Alexei Rollier, to PVH.

Alexei will officially join us in New York next week.

He comes to us with deep financial and operational experience, most recently as the global CFO and COO at Sephora, where he drove disciplined growth and significant profit expansion.

Alexei's experience combining consumer-facing improvements with effective financial steering will help us deliver our PVH Plan and drive long-term shareholder value.