PVH Corp. Swings To Q2 Loss Amid Impairment Charges, Reaffirms Annual Outlook And Plans $300 Million Buyback

PVH Corp., the parent company of Tommy Hilfiger and Calvin Klein, posted a second-quarter loss contrasting with profitability in the same period last year, driven primarily by decreased revenue and significant asset impairment charges.

The company reported a net loss of $102.9 million, or $2.23 per share, compared with net income of $224.2 million, or $4.63 per share, in the year-ago quarter.

PVH recorded $439 million in goodwill and intangible asset impairment charges during the period, versus none in the prior-year quarter. On an adjusted basis excluding one-time items, earnings per share increased to $3.70 from $2.52 in the comparable period.

Revenue declined 3% to $2.097 billion from $2.167 billion in the prior year.

The company also announced plans to repurchase at least $300 million in shares during 2026.

PVH maintained its full-year revenue forecast of roughly flat growth and adjusted earnings guidance of $11.80 to $12.10 per share, compared with $11.40 in the previous year.

For the third quarter, the company projects revenue will decline by low single digits compared to the prior-year period, with adjusted earnings ranging between $2.50 and $2.65 per share versus $2.83 last year.

PVH shares closed at $72.29 on Wednesday, down 0.74%, and rose 3.58% to $74.88 in overnight trading.

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