(RTTNews) – PVH Corp. (PVH), the owner of brands including Tommy Hilfiger and Calvin Klein, reported a loss for the second quarter compared with a profit a year ago, primarily due to lower revenue and impairment charges.
Net loss was $102.9 million, or $2.23 per share compared with net income of $224.2 million, or $4.63 per share, a year earlier.
The company recorded $439 million in goodwill and other intangible asset impairment charges, compared with nil in the prior-year period. Excluding one-time items, adjusted earnings rose to $3.70 per share from $2.52 per share.
Revenue fell 3% to $2.097 billion from $2.167 billion a year ago.
Additionally, PVH said it expects to repurchase at least $300 million of shares in 2026.
For the full year, the company reaffirmed its revenue outlook of approximately flat and adjusted earnings guidance of $11.80 to $12.10 per share, compared with $11.40 a year ago.
For the third quarter, PVH expects revenue to decline by low single digits from the prior-year period and adjusted earnings to be between $2.50 and $2.65 per share, compared with $2.83 last year.
PVH shares closed down 0.74% at $72.29 on Wednesday and were up 3.58% in overnight trading at $74.88.
