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PVH (PVH) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 2, 2026 · PVH (PVH) Q2 FY27 earnings results →

Q2 FY27 Revenue down 3% year over year to $2.1B · 5¢ of every $1 of revenue lost · operating margin -9.1%

PVH made $2.1B in Q2 FY27 (-3% Y/Y): EMEA Segment $986M, Americas Segment $680M, APAC Segment $344M. Operating margin -9.1%, net loss $103M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 2, 2026.

Revenue$2.1B
Year over year-3%
Operating margin-9.1%
Net earnings−$103M
Operating cash flow$383M

Drawing the Sankey…

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PVH Q2 FY27 revenue breakdown: Sankey diagram of revenue (EMEA Segment, Americas Segment, APAC Segment, Licensing Segment), costs, profit and cash flow
PVH Q2 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.1B in Q2 FY27, down 3% year over year and up 4% from the previous quarter. EMEA Segment was the largest line at 47% of revenue. EMEA Segment lost $0.06B year over year (down 6%), 89% of the total change.

Gross margin was 63.0%, up 5.3 points from Q2 FY26. Operating costs exceeded revenue by $0.19B, an operating margin of -9.1%. Operating expenses grew 35% against a revenue fall of 3%. The quarter ended with a net loss of $0.10B, after a profit of $0.09B the previous quarter.

Operating cash flow was $0.38B (up 80% year over year). Non-cash charges added back $0.06B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.42B. Capital expenditures of $0.04B left free cash flow of $0.35B.

Quarterly history

PVH revenue by quarterPVH revenue by quarter$2.4BQ4 FY25$2.0BQ1 FY26$2.2BQ2 FY26$2.3BQ3 FY26$2.5BQ4 FY26$2.0BQ1 FY27$2.1BQ2 FY27
PVH net earnings by quarterPVH net earnings by quarter$157MQ4 FY25−$44.8MQ1 FY26$224MQ2 FY26$4.2MQ3 FY26−$158MQ4 FY26$88.0MQ1 FY27−$103MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 2, 2026$2.1B-3%-9.1%−$103M$383M
Q1 FY2710-QJun 5, 2026$2.0B+2%6.1%$88.0M−$46.5M
Q4 FY2610-KMar 31, 2026$2.5B+6%9.9%−$158M$583M
Q3 FY2610-QDec 8, 2025$2.3B+2%7.9%$4.2M−$44.5M
Q2 FY2610-QSep 5, 2025$2.2B+4%6.1%$224M$213M
Q1 FY2610-QJun 4, 2025$2.0B+2%-16.7%−$44.8M−$71.4M
Q4 FY2510-KApr 1, 2025$2.4B-5%8.9%$157M$486M

Charts

PVH: revenue growth, year over year and quarter over quarterPVH: revenue growth, year over year and quarter over quarterY/YQ/Q-5%Q4 FY25+2%-16%Q1 FY26+4%+9%Q2 FY26+2%+6%Q3 FY26+6%+9%Q4 FY26+2%-19%Q1 FY27-3%+4%Q2 FY27
Latest (Q2 FY27): Y/Y -3%, Q/Q +4%.
PVH: where the cash came from (+) and went (−), TTM to Q2 FY27PVH: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$875MCash drawn (+) / kept (−)−$717MCapital spending−$160MOther investing$42.4MOther financing−$18.4MBuybacks−$17.6MDividends−$7.1MExchange rates$5.4MNet borrowing (+) / repaid (−)−$2.6M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
PVH: profit against cash, quarter by quarterPVH: profit against cash, quarter by quarterNet incomeOperating cash flow$132M$28.7MQ3 FY25$157M$486MQ4 FY25−$44.8M−$71.4MQ1 FY26$224M$213MQ2 FY26$4.2M−$44.5MQ3 FY26−$158M$583MQ4 FY26$88.0M−$46.5MQ1 FY27−$103M$383MQ2 FY27
Latest (Q2 FY27): Net income −$103M, Operating cash flow $383M.
PVH: diluted shares by fiscal yearPVH: diluted shares by fiscal year71MFY2172MFY2266MFY2362MFY2457MFY2548MFY26
-31.9% since FY21: buybacks shrank the count.
PVH: long-term debt falling due (FY26)PVH: long-term debt falling due (FY26)$13.1M2027$1.2B2028$622M2030$500M2031
Cash $702M, short-term investments —, long-term debt $2.3B at 2026-02-01.
PVH in its industry: growth against margin (7 companies, SIC 2320)PVH in its industry: growth against margin (7 companies, SIC 2320)revenue growth, year over year →↑ operating marginmedian +3%median 14%CTASVFCRLKTBOXMLSEBPVH (-3%, -9%)
Men's & Boys' Furnishgs, Work Clothg, & Allied Garments; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About PVH

Our fiscal years are based on the 52-53 week period ending on the Sunday closest to February 1 and are designated by the calendar year in which the fiscal year commences. References to a year are to our fiscal year, unless the context requires otherwise. Our 2025 year commenced on February 3, 2025 and ended on February 1, 2026; our 2024 year commenced on February 5, 2024 and ended on February 2, 2025; and our 2023 year commenced on January 30, 2023 and ended on February 4, 2024. References in this report to the brand names TOMMY HILFIGER , TOMMY JEANS , Calvin Klein , Calvin Klein Jeans , Calvin Klein Underwear , Calvin Klein Sport , Calvin Klein Collection , which are owned, Warner’s , Olga and True&Co.

In its own words, from its 10-K, filed Mar 31, 2026.

PVH against its Men's & Boys' Furnishgs, Work Clothg, & Allied Garments peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -3% against the peers' median +3%. Operating margin: -9.1% against the peers' median 13.7%.

CompanyQuarterRevenueY/YOp. margin
PVH PVHQ2 FY27$2.1B-3%-9.1%
CTAS CintasQ1 FY27$3.0B+11%23.6%
VFC V FQ2 FY27$2.7B-4%13.7%
RL Ralph LaurenQ2 FY27$2.2B+9%16.6%
KTB Kontoor BrandsQ3 2026$685M+3%11.2%
OXM Oxford IndustriesQ2 FY27$394M-2%17.4%
LSEB Lseb CreativeQ1 FY27$5K+269%-404.4%

Source: PVH 10-Q on SEC EDGAR · CIK 78239 · Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

13F: who owns PVH and who is buying

Largest holders of PVH (13F)Largest holders of PVH (13F)FMR LLC$507MPzena Investment Management LLC$432MBlackRock$333MVanguard Group$321MDimensional Fund Advisors LP$229MVanguard Portfolio Management LLC$161MAllspring Global Investments Hold…$155MVanguard Capital Management LLC$155MAmerican Century Companies$134MState Street$110M
Funds' net buying of PVH by quarter (13F)Funds' net buying of PVH by quarter (13F)−$266M2024-09−$32.8M2024-12−$324M2025-03$35.3M2025-06−$85.0M2025-09−$287M2025-12$87.5M2026-03$86.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PVH

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：PVH（PVH）财报

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