PVH revenue up 3% to $9.0B, but $480M impairment and tariff headwinds compress margins

Filed March 31, 2026 · Period ending February 1, 2026 · Compared to 10-K Apr 1, 2025 · ~2 min read

Key Changes

• high

  Recorded $480M noncash goodwill and intangible asset impairment in Q1 2025 driven by elevated discount rates from macroeconomic stress; net income fell 96% to $25M.

  MD&A: Impairments verify on EDGAR →
• high

  Tariffs imposed Q1 2025 hit gross margin ~80bps in FY2025; company projects ~215bps gross impact in FY2026 (vs. 80bps in FY2025) despite mitigation actions.

  MD&A: Tariff Impact verify on EDGAR →
• high

  Remediated material weakness in IT general controls over EMEA systems; controls now effective as of Feb 1, 2026 after year-long implementation of oversight and training.

  Controls & Procedures verify on EDGAR →