PVH reported $2 billion in Q1 revenue and raised EPS guidance but lowered annual sales forecasts due to Middle East conflict impacts.
PVH posted first-quarter revenue of $2 billion, up 2% year-over-year on a reported basis but down 2% in constant currency, meeting internal targets. Earnings per share exceeded guidance, while operating margin reached 6.5%, the high end of the company’s non-GAAP range.
Direct-to-consumer sales rose 3% in constant currency, driven by e-commerce strength at Calvin Klein and Tommy Hilfiger. The company cited higher marketing spend and targeted consumer focus as key growth drivers, though it trimmed its full-year revenue outlook due to prolonged Middle East conflict effects on EMEA performance.
Shares of PVH remained under pressure despite the quarterly beat, reflecting investor caution over the revised annual forecast.