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Consolidated Income Statements - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Aug. 02, 2020
Aug. 04, 2019
Aug. 02, 2020
Aug. 04, 2019
Total revenue [1] $ 1,580.7 [2] $ 2,364.2 $ 2,924.7 [2] $ 4,720.5
Cost of goods sold (exclusive of depreciation and amortization) 697.4 1,075.8 1,375.5 2,136.2
Gross profit 883.3 1,288.4 1,549.2 2,584.3
Selling, general and administrative expenses 882.2 1,154.5 1,822.3 2,316.0
Goodwill and other intangible asset impairments 0.0 0.0 933.5 0.0
Non-service related pension and postretirement income (0.7) (1.9) (4.3) (4.1)
Debt modification and extinguishment costs 0.0 0.0 0.0 5.2
Other noncash (gain) loss 0.0 (113.1) 3.1 (113.1)
Equity in net (loss) income of unconsolidated affiliates (3.5) 0.9 (14.7) 4.6
(Loss) income before interest and taxes [3] (1.7) [4] 249.8 (1,220.1) [4] 384.9
Interest expense 32.7 28.3 55.2 59.3
Interest income 0.6 1.3 1.9 2.4
(Loss) income before taxes (33.8) 222.8 (1,273.4) 328.0
Income tax expense (benefit) 17.9 29.7 (124.5) 53.3
Net (loss) income (51.7) 193.1 (1,148.9) 274.7
Less: Net loss attributable to redeemable non-controlling interest (0.3) (0.4) (0.7) (0.8)
Net (loss) income attributable to PVH Corp. $ (51.4) $ 193.5 $ (1,148.2) $ 275.5
Basic net (loss) income per common share attributable to PVH Corp. $ (0.72) $ 2.59 $ (16.12) $ 3.67
Diluted net (loss) income per common share attributable to PVH Corp. $ (0.72) $ 2.58 $ (16.12) $ 3.65
Net sales        
Total revenue $ 1,531.2 $ 2,249.0 $ 2,788.4 $ 4,486.3
Royalty revenue        
Total revenue 37.0 85.8 106.0 175.2
Advertising and other revenue        
Total revenue $ 12.5 $ 29.4 $ 30.3 $ 59.0
[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
[3] (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.
[4] (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, (loss) income before interest and taxes for the twenty-six weeks ended August 2, 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.