PVH — the company that owns Tommy Hilfiger and Calvin Klein — said revenue decreased 1% year-on-year on a constant currency basis to $2.29 billion in the third quarter of 2025, ended November 2, in line with guidance.

Gross margin decreased from 58.4% in Q3 last year to 56.3% in 2025, impacted by US tariffs, increased promotions, higher freight costs and the transition of some previously licensed women’s categories in-house. EBIT declined from $183 million in the same period last year to $181 million this year.

“We are fully geared up to deliver the rest of the holiday season and the full year as we continue to — step by step and season by season — build Calvin Klein and Tommy Hilfiger into their full potential,” said CEO Stefan Larsson on the earnings call with investors. “We remain r

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