SEGMENT DATA (Tables)

3 Months Ended

May 03, 2020

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The Company’s revenue by segment was as follows:


	Thirteen Weeks Ended
(In millions)	5/3/20		⁽¹⁾⁽²⁾	5/5/19		⁽¹⁾
Revenue – Tommy Hilfiger North America
Net sales	$	161.1		$	347.8
Royalty revenue	16.8			18.7
Advertising and other revenue	3.4			5.3
Total	181.3			371.8

Revenue – Tommy Hilfiger International
Net sales	453.9			662.7
Royalty revenue	8.8			13.2
Advertising and other revenue	2.5			4.4
Total	465.2			680.3

Revenue – Calvin Klein North America
Net sales	163.9			378.4
Royalty revenue	25.1			33.4
Advertising and other revenue	7.1			12.2
Total	196.1			424.0

Revenue – Calvin Klein International
Net sales	262.3			441.1
Royalty revenue	14.2			17.9
Advertising and other revenue	4.0			6.6
Total	280.5			465.6

Revenue – Heritage Brands Wholesale
Net sales	195.3			350.3
Royalty revenue	3.4			5.1
Advertising and other revenue	0.8			1.0
Total	199.5			356.4

Revenue – Heritage Brands Retail
Net sales	20.7			57.0
Royalty revenue	0.7			1.1
Advertising and other revenue	—			0.1
Total	21.4			58.2

Total Revenue
Net sales	1,257.2			2,237.3
Royalty revenue	69.0			89.4
Advertising and other revenue	17.8			29.6
Total	$	1,344.0		$	2,356.3

⁽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 temporary store closures and reduced traffic and consumer spending trends. 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.

The Company’s revenue by distribution channel was as follows:


	Thirteen Weeks Ended
(In millions)	5/3/20		5/5/19
Wholesale net sales	$	808.2	$	1,360.7
Retail net sales	449.0		876.6
Net sales	1,257.2		2,237.3

Royalty revenue	69.0		89.4
Advertising and other revenue	17.8		29.6
Total	$	1,344.0	$	2,356.3

The Company’s (loss) income before interest and taxes by segment was as follows:


	Thirteen Weeks Ended
(In millions)	5/3/20		⁽¹⁾⁽²⁾	5/5/19		⁽¹⁾
Loss before interest and taxes – Tommy Hilfiger North America	$	(50.0)	⁽⁴⁾	$	(14.7)	⁽⁸⁾

(Loss) Income before interest and taxes – Tommy Hilfiger International	(38.8)		⁽⁴⁾	106.8

(Loss) Income before interest and taxes – Calvin Klein North America	(327.8)		⁽⁴⁾⁽⁵⁾	1.4		⁽⁹⁾

(Loss) Income before interest and taxes – Calvin Klein International	(433.8)		⁽⁴⁾⁽⁵⁾	46.9		⁽⁹⁾

(Loss) Income before interest and taxes – Heritage Brands Wholesale	(287.9)		⁽⁵⁾⁽⁶⁾	39.0

(Loss) Income before interest and taxes – Heritage Brands Retail	(23.0)		⁽⁴⁾	1.0

Loss before interest and taxes – Corporate ⁽³⁾	(57.1)		⁽⁷⁾	(45.3)

(Loss) Income before interest and taxes	$	(1,218.4)		$	135.1

⁽¹⁾(Loss) Income 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.

⁽²⁾ (Loss) Income 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 as $961.8 million of noncash impairment charges related to goodwill, tradenames, other intangible assets, store assets and an equity method investment.

⁽³⁾ Includes corporate expenses not allocated to any reportable segments, the Company’s proportionate share of the net income or loss of its investments in Gazal (prior to the Australia acquisition closing) and Karl Lagerfeld and the results of PVH Ethiopia. Corporate expenses represent overhead operating expenses and include expenses for senior corporate management, corporate finance, information technology related to corporate infrastructure, certain digital investments, certain corporate responsibility initiatives, and actuarial gains and losses on the Company’s Pension Plans, SERP Plans and Postretirement Plans (which are generally recorded in the fourth quarter).

⁽⁴⁾ Loss before interest and taxes for the thirteen weeks ended May 3, 2020 included noncash impairment charges of $16.0 million related to the Company’s store assets. The $16.0 million of impairment charges were included in the Company’s segments as follows: $4.1 million in Tommy Hilfiger North America, $3.1 million in Tommy Hilfiger International, $3.2 million in Calvin Klein North America, $1.8 million in Calvin Klein International and $3.8 million in Heritage Brands Retail. Please see Note 12, “Fair Value Measurements,” for further discussion.

⁽⁵⁾ Loss before interest and taxes for the thirteen weeks ended May 3, 2020 included noncash impairment charges of $933.5 million, primarily related to goodwill, tradenames and other intangible assets. The $933.5 million of impairment charges

were included in the Company’s segments as follows: $289.9 million in Calvin Klein North America, $394.0 million in Calvin Klein International and $249.6 million in Heritage Brands Wholesale. Please see Note 7, “Goodwill and Other Intangible Assets,” for further discussion.

⁽⁶⁾ Loss before interest and taxes for the thirteen weeks ended May 3, 2020 included a net noncash loss of $3.1 million in connection with the sale of the Speedo North America business in April 2020. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

⁽⁷⁾ Loss before interest and taxes for the thirteen weeks ended May 3, 2020 included a noncash impairment charge of $12.3 million related to the Company’s equity method investment in Karl Lagerfeld. Please see Note 6, “Investments in Unconsolidated Affiliates,” for further discussion.

⁽⁸⁾ Loss before interest and taxes for the thirteen weeks ended May 5, 2019 included costs of $54.9 million incurred in connection with the TH U.S. store closures, primarily consisting of noncash lease asset impairments. Please see Note 12, “Fair Value Measurements,” for further discussion.

⁽⁹⁾ Income before interest and taxes for the thirteen weeks ended May 5, 2019 included costs of $70.3 million incurred in connection with the Calvin Klein restructuring, primarily consisting of lease asset impairments and severance. Such costs were included in the Company’s segments as follows: $50.9 million in Calvin Klein North America and $19.4 million in Calvin Klein International. Please see Note 12, “Fair Value Measurements,” for further discussion of the lease asset impairments.