Q1 2025 PVH Corp Earnings Call Transcript
Key Points
- PVH Corp (PVH) reported a 2% revenue growth, exceeding their guidance, driven by disciplined execution of the PVH+ Plan.
- The company delivered stronger than expected non-GAAP EPS, also above their guidance.
- Calvin Klein's innovative product franchise, Icon Cotton Stretch underwear, drove a 25% increase in sales globally.
- Tommy Hilfiger's strategic product innovations and seasonal collections have led to stronger performance, particularly in Europe.
- PVH Corp (PVH) returned over $550 million to shareholders through share repurchases during the quarter.
- The company is facing a challenging macroeconomic environment, with decreased consumer sentiment and traffic trends, particularly in North America and China.
- PVH Corp (PVH) experienced operational challenges with Calvin Klein's global product creation, impacting margins.
- The company is dealing with a more promotional environment, leading to increased discounting and impacting gross margins.
- Tariffs are expected to have a $65 million unmitigated impact on EBIT for the full year.
- Inventory levels increased by 19% due to lower than expected demand for basics and essentials.
Good morning, everyone, and welcome to today's PVH first-quarter 2025 earnings conference call. (Operator Instructions) Please note, this call may be recorded, and that I will be standing by, should you require any assistance. It is now my pleasure to turn today's program over to Sheryl Freeman, Senior Vice President of Investor Relations. Please go ahead, ma'am.
Thank you, operator. Good morning, everyone, and welcome to the PVH Corp first-quarter 2025 earnings conference call. Leading the call today will be Stefan Larsson, Chief Executive Officer; and Zac Coughlin, Chief Financial Officer.
This webcasting 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
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