$PVH Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $2.1B (Est. $2.09B) 🟡; -3% YoY 🔹 Adj. EPS: $3.70 (Est. $3.08) 🟢; +47% YoY; includes $107M tariff refunds 🔹 Gross Margin: 63.0%; +530 bps YoY 🔹 Non-GAAP EBIT: $232.6M (Est. $199M) 🟢 FY26 Guide: 🔹 Adj. EPS: $11.80-$12.10 (Est. $12.02) 🟡 🔹 Revenue: Flat; decrease slightly cc 🔹 Operating Margin: 8.8% non-GAAP 🔹 Effective Tax Rate: 22% to 23% non-GAAP 🔹 Net Interest Expense: ~$70M; from ~$75M Q3 Guide: 🔹 Adj. EPS: $2.50-$2.65 (Est. $2.99) 🔴 🔹 Revenue: Low-single-digit decline 🔹 Operating Margin: ~7.5% non-GAAP 🔹 Effective Tax Rate: ~22.0% non-GAAP Segment Net Revenue: 🔹 EMEA: $986.3M; -6% YoY 🔹 Americas: $680.1M; -1% YoY 🔹 APAC: $343.7M; +3% YoY 🔹 Licensing: $86.9M; -13% YoY 🔹 Calvin Klein: $913.3M (Est. $953M) 🔴; -7% YoY Other Q2 Metrics: 🔹 Inventory: $1.7B; -3% YoY 🔹 Owned & Operated Digital Commerce Revenue: $194.1M; +4% YoY 🔹 Non-GAAP Operating Margin: 11.1%; +290 bps YoY; includes $107M tariff refund benefit Key Updates: 🔹 Tariff Refunds: $107M; included an approximately 510 bps benefit to operating margin 🔹 Goodwill Impairment: $439M pre-tax noncash charge; GAAP EPS: -$2.23 🔹 New CFO: Alexis Rollier joins from Sephora Comments: 🔸 “profitability exceeding expectations” 🔸 “we are reaffirming our top and bottom line outlook for the full year.”