PVH Corp. reported adjusted earnings of $2.01 per share for Q1 fiscal 2026, surpassing the Zacks Consensus Estimate of $1.80. Revenue increased 2% year-over-year to $2.025 billion, exceeding expectations of $1.997 billion. However, on a constant-currency basis, revenue declined by 2%, highlighting challenges in the market.
PVH’s stock trades at a trailing price-to-earnings multiple of 6.9 and a forward multiple of 6.4, with a price-to-sales ratio of 0.4. Despite a recent 21.8% increase in share price, the company anticipates flat fiscal 2026 revenue. Notably, EMEA sales fell by 5% year-over-year, impacted by reduced consumer demand due to ongoing geopolitical tensions.
Additionally, PVH expects a blended tariff rate of around 15%, estimating a $195 million negative impact on earnings before interest and taxes (EBIT). Key brand revenues, mainly from Calvin Klein and Tommy Hilfiger, saw modest growth in the quarter, but ongoing tariff pressures and regional weaknesses may affect future performance.
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