PVH Corp. reported its financial results for the second quarter of 2026, filing an 8-K on September 2, 2026. The company reported second quarter revenue of $2.097 billion, which decreased 3% compared to the prior year period. On a constant currency basis, revenue decreased 3% and exceeded the company's guidance of a 4% to 5% decrease.
Second quarter non-GAAP operating margin was 11.1%, exceeding the guidance of approximately 9.5%. On a GAAP basis, operating margin was (9.1)%, which includes a $439 million pre-tax noncash goodwill impairment charge. Non-GAAP earnings per share (EPS) for the quarter were $3.70, exceeding the guidance of $3.00 to $3.10. On a GAAP basis, EPS was $(2.23).
The company reported a gross margin of 63.0%, an increase of 530 basis points compared to the prior year period. This increase includes an approximately 510 basis point benefit from tariff refunds. Inventory decreased 3% to $1.738 billion compared to the prior year period.
Revenue performance varied by region. EMEA revenue decreased 6% on both a reported and a constant currency basis, driven by a decline in wholesale business. Americas revenue decreased 1% on both bases, with a slight increase in DTC business offset by a decline in wholesale. APAC revenue increased 3% on a reported basis, with growth in DTC business partially offset by a decline in wholesale.
PVH Corp. reaffirmed its full-year 2026 outlook on a non-GAAP basis. The company expects revenue to be approximately flat (decreasing slightly on a constant currency basis), operating margin to be approximately 8.8%, and EPS to be in a range of $11.80 to $12.10.
The company also announced that Alexis Rollier has been appointed as the new Chief Financial Officer, effective immediately. Melissa Stone, who served as Interim CFO, will return to her previous role as Executive Vice President, Global Financial Planning & Analysis.
