SUBSEQUENT EVENTS

12 Months Ended

Feb. 03, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS (UNAUDITED)

The Company entered into on February 20, 2019 a definitive agreement to acquire the approximately 78% interest in Gazal that it does not already own. The Company, along with Gazal, jointly own and manage a joint venture, PVH Australia, which will come under the Company's full ownership as a result of this acquisition. The aggregate net purchase price for the shares being acquired is approximately A$124 million (approximately $90 million based on the current exchange rate in effect), after taking into account the divestiture to a third party of an office building and warehouse owned by Gazal. The closing is subject to customary conditions, including shareholder and court approvals, and is expected to occur in the second quarter of 2019.

The Company entered into on March 25, 2019 a definitive agreement to acquire the Tommy Hilfiger retail business in Hong Kong and certain other countries in Central and Southeast Asia from the Company’s current licensee in those markets, Dickson Concepts (International) Limited. The purchase price is estimated to be approximately $75 million. The closing is subject to customary conditions and is expected to occur in the second quarter of 2019.

The Company will be closing its TOMMY HILFIGER flagship and anchor stores in the United States in the first quarter of 2019. The Company expects to incur pre-tax costs of approximately $60 million during 2019, primarily consisting of severance, noncash asset impairments and lease and other contract termination costs.