PVH 2026 Q3 Earnings Sharp Net Income Drop as Revenue Grows 1.7%

PVH (PVH) reported fiscal 2026 Q3 earnings on Dec 08th, 2025. The company’s total revenue rose 1.7% to $2.29 billion, slightly outpacing expectations, but net income plummeted by 96.8% to $4.20 million, and the company affirmed a cautious outlook for Q4 with flat to low single-digit revenue growth.

Revenue

PVH’s revenue in 2026 Q3 increased by 1.7% to $2.29 billion, driven by strong performance across its core brands. Tommy Hilfiger led with $1.22 billion in revenue, while Calvin Klein contributed $1.02 billion. The Heritage Brands segment added $58.40 million, rounding out the total revenue. This growth reflects resilience in key markets despite broader economic headwinds.

Earnings/Net Income

PVH’s EPS fell 96.2% to $0.09 in 2026 Q3, down from $2.37 in 2025 Q3. Net income similarly dropped to $4.20 million, a 96.8% decline from $131.90 million in the prior-year period. The sharp contraction underscores significant profitability challenges amid operational and margin pressures.

Price Action

PVH’s stock price declined 3.67% in the latest trading day, 12.21% over the past week, and 3.98% month-to-date.

Post-Earnings Price Action Review

The strategy of buying PVH when revenues beat expectations and holding for 30 days yielded a 29.48% return, significantly underperforming the benchmark’s 139.42%. The approach’s Sharpe ratio of 0.09 highlights modest risk-adjusted returns, while the 0% maximum drawdown indicates it avoided losses during the backtest period.

CEO Commentary

PVH’s CEO emphasized the company’s commitment to its multi-year PVH+ plan, which aims to revitalize Calvin Klein and Tommy Hilfiger brands while addressing margin pressures. “While near-term profitability remains challenging due to tariffs and operational resets, our focus on brand momentum and strategic cost discipline positions us for long-term growth,” stated the CEO. The leadership reiterated confidence in the brand portfolio’s resilience and the impact of ongoing share repurchases.

Guidance

PVH reaffirmed full-year guidance but tempered expectations for Q4, projecting revenue growth of flat to low single digits. The company highlighted ongoing margin pressures from tariffs and operational transitions at Calvin Klein, alongside a recent CFO transition, as key near-term headwinds.

Additional News

PVH’s share repurchase program, which has retired 64.52% of shares since 2015, remains a strategic priority. The company spent $167.17 million to repurchase 2.3 million shares in Q3, signaling confidence in capital allocation. Meanwhile, the PVH+ plan continues to focus on brand revitalization and operational efficiency. Persistent global tariff pressures and supply chain challenges, however, remain risks to margin recovery.