Q1 2026 PVH Corp Earnings Call Transcript
Key Points
- PVH Corp (PVH) achieved its guidance across all key metrics and delivered EPS above expectations.
- Total revenue for the quarter was $2 billion, up 2% on a reported basis, exceeding guidance.
- Direct-to-consumer business grew 3% in constant currency, driven by strength in e-commerce across Calvin Klein and Tommy Hilfiger.
- PVH Corp (PVH) strategically increased marketing spend, leading to mid-single-digit e-commerce growth in constant currency.
- The company completed more than 140 refurbishments and new store openings, enhancing the shopping experience globally.
- Wholesale revenue was down mid-single digits in constant currency due to timing effects and cautious partner positioning.
- The prolonged Middle East conflict is putting pressure on PVH Corp (PVH)'s EMEA business, affecting wholesale demand and consumer behavior.
- PVH Corp (PVH) had to reduce its EMEA outlook and update its overall full-year outlook due to the conflict's impact.
- Revenue in the Americas was down slightly year-over-year, with wholesale declines offsetting direct-to-consumer growth.
- The company faces challenges in Australia due to high fuel prices and interest rates affecting consumer spending.
Good morning, everyone, and welcome to today's PVH First Quarter 2026 earnings conference call. (Operations Instructions) Please note, this call may be recorded. (Operations Instructions)
It is now my pleasure to turn today's program over to Cait Howard, Senior Director of Investor Relations.
Thank you, operator. Good morning, everyone, and welcome to the PVH Corp. First 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. 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
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