PVH records modest growth in 2025
Thanks to better-than-expected sales in the fourth quarter of 2025, PVH Corp, owner of Calvin Klein and Tommy Hilfiger, saw its revenues grow 3% in FY 2025 to $8.950 billion. However, restructuring costs and other factors, including an increase in discount rates, have strongly impacted profits, as the group recorded a loss of $158 million over the full year.
In 2025, revenues for Calvin Klein were up 3%, at $3.9 billion, while Tommy Hilfiger’s sales were down 4%, at $4.7 billion, compared to FY 2024.
By geographical region, revenues in Europe and the Middle East were up 5%, at $4.3 billion. In the Americas, revenues grew by 6%, at $2.7 billion. An increase attributed to the switch of certain women’s products, previously licensed, back in house. Revenues dropped 4% in Asia-Pacific, at $1.5 billion. This is due, the group said, to a shift in the timing of the Lunar New Year, which occurred twice in 2024 (in Q1 and Q4).
By retail channel, PVH Corp recorded flat sales in its owned retail stores, while revenues derived from digital commerce increased 4%. For the full year, wholesale revenues were $4.4 billion, and $4.1 billion for DTC.
PVH CEO Stefan Larsson noted the ongoing “challenging global macro-economic environment” but expects to see growth across both brands and all regions in 2026.
Last year, the New York-based company launched a stock repurchase programme, acquiring $560 million in stock in 2025. It plans to invest at least $300 million in buying its own stock this year.
Photo shows Dakota Johnson who fronts the Calvin Klein Spring Essentials campaign
