PVH CORP. /DE/
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PVH swung to a net loss of $103 million in Q2 2026 from net income of $224 million in the prior-year quarter, driven primarily by a $439 million goodwill and intangible asset impairment charge. Revenue declined 3% to $2.097 billion, with EMEA showing the sharpest weakness (-6%) due to soft consumer demand tied to the Middle East conflict's macroeconomic impacts. While gross margin improved 530 bps and SG&A was slightly lower, the impairment charge signals a material deterioration in the carrying value of certain brand/business assets.
Red Flags Detected (5)
$439 million goodwill and other intangible asset impairment recorded in the quarter with no offsetting impairment in the prior year
Net loss of $103 million versus net income of $224 million in the prior-year period, a swing of $327 million
Loss before interest and taxes of $(191) million versus income of $133 million prior year
2 more red flags detected
Key Takeaways
The quarter's results are dominated by a large non-cash impairment charge rather than core operating deterioration
Gross margin expansion (530 bps) and SG&A discipline show underlying operational execution remains solid
2 more takeaways
Filing Overview
What This Means
Deteriorating Trend: Conditions are worsening compared to previous filings. This may create opportunities for service providers.
Quarterly Report: Interim filing with unaudited financial data for the quarter.