ASSETS HELD FOR SALE

3 Months Ended

May 03, 2026

Assets Held For Sale [Abstract]

Assets Held For Sale

ASSETS HELD FOR SALE

In line with the fifth growth driver of the PVH+ Plan, the Company’s multiyear strategic plan, the Company committed to a plan to sell its owned warehouse and distribution center located in Jonesville, NC. The Company concluded the criteria had been met to classify the building and related assets as held for sale during the first quarter of 2025 and ceased recording depreciation at that time. The carrying value of $16.7 million, which was determined to be lower than its fair value, less costs to sell, was reclassified from property, plant and equipment, net to assets held for sale in the Company’s Consolidated Balance Sheet during the first quarter of 2025. During the fourth quarter of 2025, the Company made the determination to redeploy certain equipment from the Jonesville warehouse and distribution center that was originally classified as held for sale for use in other Company warehouses and distribution centers and as a result, reduced the assets held for sale to a carrying value of $12.3 million. There were no further adjustments to the carrying value of the assets held for sale.

The Company completed the sale of the building and related assets on May 11, 2026 for net proceeds of $37.7 million and will record a pre-tax gain of $25.4 million during the second quarter of 2026, which represents the excess of the net proceeds over the carrying value of the assets on the date of the sale.