The US clothing group PVH Corporation was able to exceed the market expectations in the first quarter of the 2025/26 financial year with a surprising sales. In view of the recent customs increases on imports to the USA, however, the parent company of the brands Calvin Klein and Tommy Hilfiger lowered their profit forecast for the current year.
The group achieves a surprising increase in sales
In the opening quarter, which ended on May 4, the group turnover was around $ 1.98 billion (1.74 billion euros), according to a annual report published on Wednesday evening. This corresponded to an increase of two percent compared to the same period last year. Adjusted to change course changes, the proceeds also grew by two percent. The analyst: In the inside, a slight drop in sales had expected.
The unexpected plus owes the group of three percent (currency-adjusted +3 percent) to $ 1.05 billion at the Tommy Hilfiger brand, which was due to sales growth in America and the EMEA region, which includes Europe, the Middle East and Africa.
Calvin Klein’s proceeds, on the other hand, were slightly below the corresponding level of the previous year with $ 886.1 million. Current -adjusted they remained practically constant. The Heritage Brands segment, in which the smaller group brands are led, recorded a decline of almost five percent to $ 49.4 million.
Negative special effects press PVH into the loss zone
Not least due to higher discounts and increased freight costs, the gross margin of the group fell from 61.4 to 58.6 percent. In addition, the result of the result.
The company had to show a net loss of $ 44.8 million (39.2 million euros) after it had achieved a surplus of $ 151.4 million in the first quarter of the previous year. Adjusted for special effects, the net profit fell by 17.0 percent to $ 118.6 million, but exceeded the forecasts of management.
Management lowers its profit forecast for the current year
Chief Financial Officer (CFO) ZAC Coughhlin described the current quarterly figures as “solid”, but also referred to the difficult framework. “We move in an extremely dynamic and insecure macroeconomic environment, which affects our industry, our customers: inside and our business results,” he emphasized.
In view of the latest developments and the expected effects of US customs policy, the group corrected its profit target for the current year. The forecast for the result of special effects per share, which was previously $ 12.40 to $ 12.75, was reduced to $ 10.75 to $ 11.00.
The sales expectations, on the other hand, remained unchanged. The company therefore continues to expect the proceeds to remain at least constant compared to the previous year or even increase slightly.