XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Income Statements - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Nov. 01, 2020
Nov. 03, 2019
Nov. 01, 2020
Nov. 03, 2019
Total revenue [1] $ 2,118.1 [2] $ 2,587.7 $ 5,042.8 [2] $ 7,308.2
Cost of goods sold (exclusive of depreciation and amortization) 1,016.8 1,181.5 2,392.3 3,317.7
Gross profit 1,101.3 1,406.2 2,650.5 3,990.5
Selling, general and administrative expenses 987.2 1,141.6 2,809.5 3,457.6
Goodwill and other intangible asset impairments 0.0 0.0 933.5 0.0
Non-service related pension and postretirement income (3.6) (2.0) (7.9) (6.1)
Debt modification and extinguishment costs 0.0 0.0 0.0 5.2
Other noncash loss (gain) 0.0 0.0 3.1 (113.1)
Equity in net income (loss) of unconsolidated affiliates 4.4 2.9 (10.3) 7.5
Income (loss) before interest and taxes [3] 122.1 [4] 269.5 (1,098.0) [4] 654.4
Interest expense 34.4 29.2 89.6 88.5
Interest income 0.9 1.4 2.8 3.8
Income (loss) before taxes 88.6 241.7 (1,184.8) 569.7
Income tax expense (benefit) 19.1 32.8 (105.4) 86.1
Net income (loss) 69.5 208.9 (1,079.4) 483.6
Less: Net loss attributable to redeemable non-controlling interest (0.3) (0.3) (1.0) (1.1)
Net income (loss) attributable to PVH Corp. $ 69.8 $ 209.2 $ (1,078.4) $ 484.7
Basic net income (loss) per common share attributable to PVH Corp. $ 0.98 $ 2.83 $ (15.15) $ 6.49
Diluted net income (loss) per common share attributable to PVH Corp. $ 0.98 $ 2.82 $ (15.15) $ 6.46
Net sales        
Total revenue $ 2,014.3 $ 2,433.5 $ 4,802.7 $ 6,919.8
Royalty revenue        
Total revenue 79.7 113.1 185.7 288.3
Advertising and other revenue        
Total revenue $ 24.1 $ 41.1 $ 54.4 $ 100.1
[1] Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[2] Revenue was significantly negatively impacted by the COVID-19 pandemic, including as a result of reduced traffic and consumer spending trends, and temporary store closures for varying periods of time throughout the first quarter and into the second quarter of 2020. The Company’s wholesale customers and licensing partners also experienced significant business disruptions as a result of the pandemic, resulting in a decrease in the Company’s revenue from these channels
[3] Income (Loss) before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[4] Income (Loss) before interest and taxes was significantly negatively impacted by the COVID-19 pandemic, including as a result of the unprecedented decline in revenue noted above. As well, (loss) income before interest and taxes for the thirty-nine weeks ended November 1, 2020 was significantly adversely impacted by $961.8 million of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment resulting from the significant adverse impacts of the COVID-19 on the Company’s business.