Financial Analysis

DIVESTITURES Sale of Warners, Olga and True&Co. Womens Intimates Businesses The Company completed the Heritage Brands intimates transaction on November 27, 2023 for net proceeds of $155.6 million, after transaction costs. The final carrying value of the net assets sold on the closing date was $140.3 million, which consisted of $44.5 million of inventory and $95.8 million of tradenames. In connection with the closing of the transaction, the Company recorded a gain of $15.3 million in the fourth quarter of 2023, which represented the excess of the amount of consideration received over the carrying value of the net assets, less costs to sell. An incremental gain of $10.0 million was recorded in the first quarter of 2024 due to the accelerated realization of the earnout provided for in the agreement with Basic Resources, which was paid in equal quarterly installments to the Company through the first quarter of 2025. These gains were recorded in other gain in the Companys Consolidated Statements of Operations for the respective periods and are included in restructuring and other items for segment data reporting purposes. …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Short-Term Borrowings The Company has the ability to draw revolving borrowings under the senior unsecured credit facilities discussed below in the section entitled 2022 Senior Unsecured Credit Facilities. The Company had no revolving borrowings outstanding under these facilities as of February 1, 2026 and February 2, 2025. Additionally, the Company has the ability to borrow under short-term lines of credit, overdraft facilities and short-term revolving credit facilities denominated in various foreign currencies. These facilities provided for borrowing capacity of up to $234.9 million based on exchange rates in effect on February 1, 2026 and are utilized primarily to fund working capital needs. The Company had no borrowings outstanding under these facilities as of February 1, 2026 and February 2, 2025. Commercial Paper The Company has the ability to issue unsecured commercial paper notes with maturities that vary but do not exceed 397 days from the date of issuance primarily to fund working capital needs. Borrowings under the commercial paper note program, when taken together with the revolving borrowings outstanding under the multicurrency revolving credit facility included in the 2022 facilities (as defined below), cannot exceed $1,150.0 million. The Company had no borrowings outstanding under the commercial paper note program as of February 1, 2026 and February 2, 2025. 2025 Unsecured Delayed Draw Term Loan Facilities On April 4, 2025, the Company entered into a credit …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue by Brand The Companys revenue by brand was as follows: (In millions) 2025 (1) 2024 (1) 2023 (1) Tommy Hilfiger $ 4,770.9 $ 4,589.7 $ 4,824.6 Calvin Klein 3,964.0 3,856.7 3,914.5 Heritage Brands 215.3 206.5 478.6 Total $ 8,950.2 $ 8,652.9 $ 9,217.7 (1) Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business. Revenue by Distribution Channel The Companys revenue by distribution channel was as follows: (In millions) 2025 (1) 2024 (1) 2023 (1) Wholesale revenue $ 4,406.8 $ 4,130.9 $ 4,577.7 Owned and operated retail stores 3,350.5 3,348.9 3,399.8 Owned and operated digital commerce sites 771.7 745.4 797.3 Retail revenue 4,122.2 4,094.3 4,197.1 Licensing revenue 421.2 427.7 442.9 Total (2) $ 8,950.2 $ 8,652.9 $ 9,217.7 (1) Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business. (2) No single customer accounted for more than 5% of the Companys revenue in 2025, 2024 or 2023. The Company has not disclosed revenue by product category as it is impracticable to do so. …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

STOCK-BASED COMPENSATION The Company grants stock-based awards under its Stock Incentive Plan (the Plan). Awards that may be granted under the Plan include, but are not limited to (i) service-based restricted stock units (RSUs); (ii) contingently issuable performance share units (PSUs); and (iii) service-based non-qualified stock options (stock options). Each award granted under the Plan is subject to an award agreement that incorporates, as applicable, the exercise price, the term of the award, the periods of restriction, the number of shares to which the award pertains, performance periods and performance measures, and such other terms and conditions as the plan committee determines. Awards granted under the Plan are classified as equity awards, which are recorded in stockholders equity in the Companys Consolidated Balance Sheets. When estimating the grant date fair value of stock-based awards, the Company considers whether an adjustment is required to the closing price or the expected volatility of its common stock on the date of grant when the Company is in possession of material nonpublic information. No such adjustments were made to the grant date fair value of awards granted in any period presented. Shares issued as a result of stock-based compensation transactions generally have been funded with the issuance of new shares of the Companys common stock. According to the terms of the Plan, for purposes of determining the number of shares available for grant, each share u …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASUREMENTS In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three level hierarchy prioritizes the inputs used to measure fair value as follows: Level 1 Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 Observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data. Level 3 Unobservable inputs reflecting the Companys own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available. In accordance with the fair value hierarchy described above, the following table shows the fair value of the Companys financial assets and liabilities that are required to be remeasured at fair value on a recurring basis: 2025 2024 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Foreign currency forward contracts N/A $ 1.8 N/A $ 1.8 N/A $ 48.7 N/A $ 48.7 Cross-currency swap contracts (net investmen …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS As described in Note 20, Segment Data, effective February 3, 2025, the first day of 2025, the Company changed its reportable segments to be region-focused to align with changes in its business and organizational structure. The Company did not recast goodwill by segment for earlier historical periods as it was impracticable to do so. The changes in the carrying amount of goodwill, by segment, prior to the change in reportable segments, were as follows: (In millions) Calvin Klein North America Calvin Klein International Tommy Hilfiger North America Tommy Hilfiger International Heritage Brands Wholesale Total Balance as of February 4, 2024 Goodwill, net (1) $ 331.9 $ 406.1 $ 25.8 $ 1,558.3 $ $ 2,322.1 Currency translation (9.5) (52.5) (62.0) Balance as of February 2, 2025 Goodwill, net (1) $ 331.9 $ 396.6 $ 25.8 $ 1,505.8 $ $ 2,260.1 (1) Goodwill is net of accumulated impairment charges of $449.9 million, $471.3 million and $177.2 million related to its Calvin Klein North America, Calvin Klein International and Tommy Hilfiger North America reporting units, respectively, as of February 2, 2025 and February 4, 2024. The information in the table below reflects the impact of the segment change whereby goodwill was reallocated to the respective reporting units on the first day of 2025 using a relative fair value approach. As a result of the change in reportable segments, the Company performed an impairment assessment immediately before and immedia …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The domestic and foreign components of income before income taxes were as follows: (In millions) 2025 2024 2023 Domestic $ (239.6) $ 61.6 $ 90.9 Foreign 390.9 644.1 750.1 Total $ 151.3 $ 705.7 $ 841.0 The income before income taxes in 2025 includes $479.5 million of noncash goodwill and other intangible asset impairment charges recorded during the first quarter of 2025. The provision for income taxes attributable to income consisted of the following: (In millions) 2025 2024 2023 Federal: Current $ $ (0.2) $ 0.1 Deferred (22.6) (24.3) (18.2) State and local: Current 9.5 5.4 5.3 Deferred (1.6) 0.1 0.2 Foreign: Current 160.7 127.6 186.4 Deferred (20.0) (1.4) 3.6 Total $ 126.0 $ 107.2 $ 177.4 The reconciliation of the U.S. federal statutory tax rate to the Companys worldwide effective income tax rate for 2025 after the adoption of ASU 2023-09 was as follows: 2025 (Dollars in millions) Amount Percent U.S. federal statutory tax rate $ 31.8 21.0 % State and local income taxes, net of federal income tax effect (1) 4.7 3.1 % Foreign tax effects (by jurisdiction): Australia Statutory tax rate difference between Australia and United States (7.0) (4.6) % Nondeductible impairment of goodwill 16.3 10.8 % Other 1.1 0.7 % China Foreign withholding taxes 7.8 5.2 % Nondeductible impairment of goodwill 48.3 31.9 % Other (6.0) (4.0) % Hong Kong Nondeductible impairment of goodwill 11.9 7.9 % Other (1.9) (1.3) % Netherlands Statutory tax rate difference between Netherlands and United …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Accounting Guidance Issued But Not Adopted as of February 1, 2026 The FASB issued in November 2024 ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The guidance requires disclosure, on an annual and interim basis, about the types of costs and expenses included in certain income statement expense captions. Entities are required to apply the guidance on a prospective basis, with retrospective application permitted. The update will be effective for the Company beginning with its 2027 annual consolidated financial statements and interim statements thereafter, with early adoption permitted. Since the adoption of ASU 2024-03 will only affect disclosures, it will not have an impact on the Companys financial condition or results of operations. The FASB issued in July 2025 ASU 2025-05, Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The guidance provides a practical expedient that can be elected to be applied to accounts receivable and contract assets, which allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets when estimating expected credit losses for such assets. The Company will adopt the guidance prospectively beginning with its first quarter 2026 consolidated financial statements. The adoption of the update is not expected t …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

RETIREMENT AND BENEFIT PLANS The Company, as of February 1, 2026, has two noncontributory qualified defined benefit pension plans covering substantially all employees resident in th e United States hired prior to January 1, 2022, who meet certain age and service requirements. The plans provide monthly benefits upon retirement generally based on career average compensation, subject to the plan freeze as discussed below, and years of credited service. The plans also provide participants with the option to receive their benefits in the form of lump sum payments. Vesting in plan benefits generally occurs after five years of service. The Company refers to these two plans as its Pension Plans. The Company also has three noncontributory unfunded non-qualified supplemental defined benefit pension plans, one of which is a supplemental pension plan for certain employees resident in the United States hired prior to January 1, 2022, who meet certain age and service requirements that provides benefits for compensation in excess of Internal Revenue Service earnings limits and requires payments to vested employees upon or after employment termination or retirement, according to their distribution election, and two other plans for select former senior management. The Company refers to these three plans as its SERP Plans. The Company also provides certain other postretirement benefits to certain retirees resident in the United States under two plans. Retirees contribute to the cost of the app …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

EXIT ACTIVITY COSTS Growth Driver 5 Actions In line with the fifth growth driver of the PVH+ Plan drive efficiencies and invest in growth the Company embarked on a multiyear initiative beginning in the second quarter of 2024 to simplify its operating model by centralizing certain processes and improving systems and automation to drive more efficient and cost-effective ways of working across the organization, through four main pillars: (i) delivering a single global technology stack, (ii) redesigning the Companys global distribution network, (iii) reengineering the operating model in Europe, and (iv) streamlining and optimizing the Companys support functions globally (referred to as Growth Driver 5 Actions). In connection with this initiative, the Company recorded pre-tax net costs during 2024 and 2025 as shown in the following table. While the actions to support this initiative were largely completed by the end of 2025, there are certain actions to be completed and additional actions that the Company plans to take under this initiative, on a limited basis, during 2026. Such actions include the completion of the expected sale of the Companys owned warehouse and distribution center located in Jonesville, NC, as further discussed in Note 3, Assets Held For Sale. The net impact of these remaining actions cannot be quantified at this time. (In millions) Costs Incurred During 2024 Costs Incurred During 2025 Cumulative Net Costs Incurred Severance, termination benefits and other emp …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE The Company generates revenue primarily from sales of finished products under its owned trademarks through its wholesale and retail operations and from licensing rights to its trademarks to third parties. Revenue is recognized upon the transfer of control of products or services to the Companys customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those products or services. Product Sales The Company generates revenue from the wholesale distribution of its products to traditional retailers (including for sale through their digital commerce operations), pure play digital commerce retailers, franchisees, licensees and distributors. Revenue is recognized upon transfer of control of goods to the customer, which generally occurs when title to goods is passed and risk of loss transfers to the customer. Depending on the contract terms, transfer of control is upon shipment of goods to or upon receipt of goods by the customer. Payment typically is due within 30 to 90 days. The amount of revenue recognized is net of returns, sales allowances and other discounts that the Company offers to its wholesale customers. The Company estimates returns based on an analysis of historical experience and individual customer arrangements and estimates sales allowances and other discounts based on seasonal negotiations, historical experience and an evaluation of current sales trends and market conditions. The Company also generates revenue fr …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT DATA Effective February 3, 2025, the first day of 2025, the Company changed its reportable segments to be region-focused to align with changes in its business and organizational structure. These changes included the reorganization of the executive leadership structure directly reporting to the Companys Chief Executive Officer, who is the CODM. The Companys new organizational structure provides for the pairing of the Companys global brands with commercial execution in geographic regions, underpinned by a demand- and data-driven operating model, making steady progress against the PVH+ Plan, the Companys multiyear, strategic plan to build Calvin Klein and TOMMY HILFIGER into the most desirable lifestyle brands in the world and make PVH the leading brand building group in its sector. The Companys new reportable segments are: (i) Europe, the Middle East and Africa (EMEA), (ii) Americas, (iii) Asia-Pacific (APAC), and (iv) Licensing. The new reportable segments reflect the way the Company is currently being managed and for which separate financial information is available and evaluated regularly by the CODM in deciding how to allocate resources and assess performance. In the tables below, the Company has recast historical segment reporting to reflect the new organizational structure. The EMEA, Americas, and APAC segments derive revenue principally from the sale of TOMMY HILFIGER and Calvin Klein branded apparel, accessories and related products. These segments encompass the …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS EQUITY The Companys Board of Directors has authorized over time beginning in 2015 an aggregate $5.0 billion stock repurchase program through July 30, 2028. Repurchases under the program may be made from time to time over the period through open market purchases, accelerated share repurchase programs, privately negotiated transactions or other methods, as the Company deems appropriate. Purchases are made based on a variety of factors, such as price, corporate requirements and overall market conditions, applicable legal requirements and limitations, trading restrictions under the Companys insider trading policy and other relevant factors. The program may be modified by the Board of Directors, including to increase or decrease the repurchase limitation or extend, suspend or terminate the program at any time, without prior notice. The Companys share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act of 2022. On April 1, 2025, the Company entered into accelerated share repurchase (ASR) agreements with financial institutions to repurchase an aggregate of $500.0 million of the Companys shares of common stock under the Companys existing $5.0 billion stock repurchase authorization. The Company paid $500.0 million to the financial institutions and received initial deliveries of an aggregate of approximately 4.6 million shares of the Companys common stock at a price of $76.43 per share, the closing share price of the Com …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Short-Term Borrowings The Company has the ability to draw revolving borrowings under the senior unsecured credit facilities discussed below in the section entitled 2022 Senior Unsecured Credit Facilities. The Company had no revolving borrowings outstanding under these facilities as of May 3, 2026. Additionally, the Company has the ability to borrow under short-term lines of credit, overdraft facilities and short-term revolving credit facilities denominated in various foreign currencies. These facilities provided for borrowing capacity of up to $236.2 million based on exchange rates in effect on May 3, 2026 and are utilized primarily to fund working capital needs. The Com pany had no borrowings outstanding under these facilities as of May 3, 2026. Commercial Paper The Company has the ability to issue unsecured commercial paper notes with maturities that vary but do not exceed 397 days from the date of issuance primarily to fund working capital needs. The Company had no borrowings outstanding under the commercial paper note program as of May 3, 2026. Long-Term Debt The carrying amounts of the Companys long-term debt were as follows: (In millions) 5/3/26 2/1/26 5/4/25 Senior unsecured Term Loan A facility due 2027 (1) $ 473.9 $ 482.4 $ 468.8 4 5/8% senior unsecured notes due 2025 499.7 3 1/8% senior unsecured euro notes due 2027 (1) 701.6 709.1 675.3 4 1/8% senior unsecured euro notes due 2029 (1) 611.7 618.2 588.5 5 1/2% senior unsecured notes due 2030 495.1 494.8 Total 2, …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue by Brand The Companys revenue by brand was as follows: Thirteen Weeks Ended (In millions) 5/3/26 (1) 5/4/25 (1) Tommy Hilfiger $ 1,077.3 $ 1,048.1 Calvin Klein 895.2 886.1 Heritage Brands 52.6 49.4 Total $ 2,025.1 $ 1,983.6 (1) Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business. Revenue by Distribution Channel The Companys revenue by distribution channel was as follows: Thirteen Weeks Ended (In millions) 5/3/26 (1) 5/4/25 (1) Wholesale revenue $ 1,067.0 $ 1,071.3 Owned and operated retail stores 698.9 663.0 Owned and operated digital commerce sites 170.1 153.5 Retail revenue 869.0 816.5 Licensing revenue 89.1 95.8 Total $ 2,025.1 $ 1,983.6 (1) Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business. …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

STOCK-BASED COMPENSATION The Company grants stock-based awards under its Stock Incentive Plan (the Plan). Awards that may be granted under the Plan include, but are not limited to (i) service-based restricted stock units (RSUs); (ii) contingently issuable performance share units (PSUs); and (iii) service-based non-qualified stock options (stock options). Please see Note 13, Stock-Based Compensation, in the Notes to Consolidated Financial Statements included in Item 8 of the Companys Annual Report on Form 10-K for the fiscal year ended February 1, 2026 for a detailed description of the Companys stock-based compensation awards, including information relating to vesting terms and service, performance and market conditions, and additional information. Net income for the thirteen weeks ended May 3, 2026 and May 4, 2025 included $12.0 million and $12.1 million, respectively, of pre-tax expense related to stock-based compensation, with related recognized income tax benefits of $1.4 million and $1.5 million, respectively. RSUs The fair value of RSUs is equal to the closing price of the Companys common stock on the date of grant and is expensed over the RSUs requisite service periods. RSU activity for the thirteen weeks ended May 3, 2026 was as follows: RSUs Weighted Average Grant Date Fair Value Per RSU (in thousands) Non-vested at February 1, 2026 1,276 $ 79.52 Granted 592 80.96 Vested 395 81.67 Forfeited 34 78.62 Non-vested at May 3, 2026 1,439 $ 79.54 PSUs PSU awards currently out …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASUREMENTS In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three level hierarchy prioritizes the inputs used to measure fair value as follows: Level 1 Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 Observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data. Level 3 Unobservable inputs reflecting the Companys own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available. In accordance with the fair value hierarchy described above, the following table shows the fair value of the Companys financial assets and liabilities that are required to be remeasured at fair value on a recurring basis: 5/3/26 2/1/26 5/4/25 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Foreign currency forward contracts N/A $ 7.0 N/A $ 7.0 N/A $ 1.8 N/A $ 1.8 N/A $ …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the thirteen weeks ended May 3, 2026, by segment (please see Note 16, Segment Data, for further discussion of the Companys reportable segments and segment definitions), were as follows: (In millions) EMEA Americas APAC Licensing Total Goodwill, net as of February 1, 2026 $ 1,607.4 $ $ $ 414.5 $ 2,021.9 Currency translation (12.9) (0.2) (13.1) Goodwill, net as of May 3, 2026 $ 1,594.5 $ $ $ 414.3 $ 2,008.8 The Company assesses the recoverability of goodwill and other indefinite-lived intangible assets annually, at the beginning of the third quarter of each fiscal year, and between annual tests if an event occurs or circumstances change that would indicate that it is more likely than not that the carrying amount may be impaired. Intangible assets with finite lives are amortized over their estimated useful lives and are tested for impairment along with other long-lived assets when events and circumstances indicate that the assets might be impaired. Please see Note 1, Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements included in Item 8 of the Companys Annual Report on Form 10-K for the fiscal year ended February 1, 2026 for discussion of the Companys goodwill and other intangible assets impairment testing process. 2025 Interim Goodwill Impairment Test Macroeconomic and geopolitical factors that occurred during the first quarter of 2025 resulted in si …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The effective income tax rates for the thirteen weeks ended May 3, 2026 and May 4, 2025 were 18.9% and 87.2%, respectively. The effective income tax rate for the thirteen weeks ended May 3, 2026 reflected a $20.5 million income tax expense recorded on $108.5 million of pre-tax income. The effective income tax rate for the thirteen weeks ended May 4, 2025 reflected a $(304.8) million income tax benefit recorded on $(349.6) million of pre-tax losses. The effective income tax rate for the thirteen weeks ended May 3, 2026 was lower than the prior year period primarily due to the impact of the $479.5 million pre-tax noncash goodwill and other intangible asset impairment charges recorded during the first quarter of 2025, which were non-deductible for tax purposes and factored into the Companys 2025 annualized effective income tax rate, and resulted in a 70.5% increase to the Companys effective income tax rate for the thirteen weeks ended May 4, 2025. …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

RETIREMENT AND BENEFIT PLANS The Company has two noncontributory qualified defined benefit pension plans covering substantially all employees resident in the United States hired prior to January 1, 2022, who meet certain age and service requirements. The plans provide monthly benefits upon retirement generally based on career average compensation, subject to the plan freeze as discussed below, and years of credited service. The plans also provide participants with the option to receive their benefits in the form of lump sum payments. Vesting in benefits generally occurs after five years of service. The company refers to these two plans as its Pension Plans. The Company also has three noncontributory unfunded non-qualified supplemental defined benefit pension plans, one of which is a supplemental pension plan for certain employees resident in the United States hired prior to January 1, 2022, who meet certain age and service requirements that provides benefits for compensation in excess of Internal Revenue Service earnings limits and requires payments to vested employees upon or after employment termination or retirement, according to their distribution election, and two other plans for select former senior management. The Company refers to these three plans as its SERP Plans. In the fourth quarter of 2023, the Companys Board of Directors approved changes to its Pension Plans and its supplemental pension plan to freeze the pensionable compensation and credited service amounts u …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

EXIT ACTIVITY COSTS Growth Driver 5 Actions In line with the fifth growth driver of the PVH+ Plan drive efficiencies and invest in growth the Company embarked on a multiyear initiative beginning in 2024 to simplify its operating model by centralizing certain processes and improving systems and automation to drive more efficient and cost-effective ways of working across the organization, through four main pillars: (i) delivering a single global technology stack, (ii) redesigning the Companys global distribution network, (iii) reengineering the operating model in Europe, and (iv) streamlining and optimizing the Companys support functions globally (referred to as Growth Driver 5 Actions). In connection with this initiative, the Company recorded pre-tax net costs as shown in the following table. While the actions to support this initiative were largely completed by the end of 2025, there have been certain actions taken and additional actions that the Company plans to take under this initiative, on a limited basis, during 2026. Such actions include the sale of the Companys owned warehouse and distribution center located in Jonesville, NC, as further discussed in Note 4, Assets Held for Sale. The net impact of these remaining actions cannot be quantified at this time. (In millions) Costs Incurred During the Thirteen Weeks Ended 5/4/25 Costs Incurred During the Thirteen Weeks Ended 5/3/26 Cumulative Net Costs Incurred Severance, termination benefits and other employee costs $ 13.2 $ …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE The Company generates revenue primarily from sales of finished products under its owned trademarks through its wholesale and retail operations and from licensing rights to its trademarks to third parties. Revenue is recognized upon the transfer of control of products or services to the Companys customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those products or services. Performance Obligations Under License Agreements As of May 3, 2026, the contractual minimum fees on the portion of all license agreements not yet satisfied totaled $1.1 billion, of which the Company expects to recognize $200.4 million as revenue during the remainder of 2026, $222.3 million in 2027 and $695.2 million thereafter. The Company elected not to disclose the remaining performance obligations for license agreements that have an original expected term of one year or less and expected sales-based percentage fees for the portion of all license agreements not yet satisfied. Deferred Revenue Changes in deferred revenue, which primarily relate to customer loyalty programs, gift cards and license agreements for the thirteen weeks ended May 3, 2026 and May 4, 2025 were as follows: Thirteen Weeks Ended (In millions) 5/3/26 5/4/25 Deferred revenue balance at beginning of period $ 49.0 $ 55.3 Net additions to deferred revenue during the period 37.0 37.9 Reductions in deferred revenue for revenue recognized during the period (1) (36.4) (39.1) Deferre …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT DATA The Companys reportable segments reflect the way the Company is currently being managed and for which separate financial information is available and evaluated regularly by the Companys Chief Executive Officer, who is the chief operating decision maker (CODM) in deciding how to allocate resources and assess performance. The Companys reportable segments are: (i) Europe, the Middle East and Africa (EMEA), (ii) Americas, (iii) Asia-Pacific (APAC), and (iv) Licensing. The EMEA, Americas, and APAC segments derive revenue principally from the sale of TOMMY HILFIGER and Calvin Klein branded apparel, accessories and related products. These segments encompass the marketing of these products at wholesale primarily to department and specialty stores (including their digital commerce operations), pure play digital commerce retailers, distributors and franchisees (primarily for EMEA and APAC), and warehouse clubs and off-price retailers (primarily for Americas). Within these segments the Company also operates retail stores (which, for Americas, are primarily located in premium outlet centers and, to a lesser extent, in full price and other channels), concession locations (for EMEA and APAC), and digital commerce sites, which sell these products. These segments also include the Companys proportionate share of the net income or loss of its investments in its unconsolidated affiliates that operate in such regions. The Company derives revenue in the Licensing segment principally …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS EQUITY The Companys Board of Directors has authorized over time beginning in 2015 an aggregate $5.0 billion stock repurchase program through July 30, 2028. Repurchases under the program may be made from time to time over the period through open market purchases, accelerated share repurchase programs, privately negotiated transactions or other methods, as the Company deems appropriate. Purchases are made based on a variety of factors, such as price, corporate requirements and overall market conditions, applicable legal requirements and limitations, trading restrictions under the Companys insider trading policy and other relevant factors. The program may be modified by the Board of Directors, including to increase or decrease the repurchase limitation or extend, suspend or terminate the program at any time, without prior notice. The Companys share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act of 2022. On April 1, 2025, the Company entered into accelerated share repurchase (ASR) agreements with financial institutions to repurchase an aggregate of $ 500.0 million of the Companys shares of common stock under the Companys existing $5.0 billion stock repurchase authorization. The Company paid $500.0 million to the financial institutions and received initial deliveries of an aggregate of approximately 4.6 million shares of the Companys common stock at a price of $76.43 per share, the closing share price of the Co …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing