v3.26.1
SEGMENT DATA
 3 Months Ended
May 03, 2026
Segment Data [Abstract]  
SEGMENT DATA SEGMENT DATA
The Company’s reportable segments reflect the way the Company is currently being managed and for which separate financial information is available and evaluated regularly by the Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s reportable segments are: (i) Europe, the Middle East and Africa (“EMEA”), (ii) Americas, (iii) Asia-Pacific (“APAC”), and (iv) Licensing.

The EMEA, Americas, and APAC segments derive revenue principally from the sale of TOMMY HILFIGER and Calvin Klein branded apparel, accessories and related products. These segments encompass the marketing of these products at wholesale primarily to department and specialty stores (including their digital commerce operations), pure play digital commerce retailers, distributors and franchisees (primarily for EMEA and APAC), and warehouse clubs and off-price retailers (primarily for Americas). Within these segments the Company also operates retail stores (which, for Americas, are primarily located in premium outlet centers and, to a lesser extent, in full price and other channels), concession locations (for EMEA and APAC), and digital commerce sites, which sell these products. These segments also include the Company’s proportionate share of the net income or loss of its investments in its unconsolidated affiliates that operate in such regions.

The Company derives revenue in the Licensing segment principally from licensing and similar arrangements relating to the use by third parties of the TOMMY HILFIGER and Calvin Klein brand names for a broad range of product categories, as well as for certain territories.

The CODM uses segment income (loss) before interest and taxes as the profit measure to evaluate segment performance and allocate resources to the segments. The CODM considers variances of actual and forecasted performance to prior year when making decisions.
Segment Data

The Company’s revenue, significant expenses, and income before interest and taxes by segment, which include the impact of changes in foreign currency exchanges rates, were as follows:
Thirteen Weeks Ended
5/3/2026
(In millions)EMEAAmericasAPACLicensingTotal
Revenue$946.1 $602.9 $387.0 $89.1 $2,025.1 
Cost of goods sold (1)
(396.2)(337.1)(105.6)— (838.9)
Marketing expenses (excluding an additional $43.0 included in Corporate and other) (1)
(35.5)(21.2)(15.3)— (72.0)
(2)
Other segment items (3)
(362.0)(193.7)(176.7)(14.2)(746.6)
Segment income before interest and taxes$152.4 $50.9 $89.4 $74.9 $367.6 
Corporate and other (including $43.0 of marketing expenses) (4)
(236.4)
(2)
Restructuring and other items (5)
(6.9)
Income before interest and taxes$124.3 
Thirteen Weeks Ended
5/4/2025
(In millions)EMEAAmericasAPACLicensingTotal
Revenue$927.7 $608.4 $351.7 $95.8 $1,983.6 
Cost of goods sold (1)
(391.5)(328.8)(101.6)— (821.9)
Marketing expenses (excluding an additional $37.8 included in Corporate and other) (1)
(28.3)(23.4)(9.4)— (61.1)
(2)
Other segment items (3)
(358.5)(195.4)(161.7)(15.1)(730.7)
Segment income before interest and taxes$149.4 $60.8 $79.0 $80.7 $369.9 
Corporate and other (including $37.8 of marketing expenses) (4)
(209.4)
(2)
Restructuring and other items (6)
(492.7)
Income before interest and taxes$(332.2)
(1)    The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2)    In addition to the marketing expenses incurred by the Company’s reportable segments, there was $43.0 million and $37.8 million of global brand marketing expense, including marketing expenses benefiting the Company’s licensees, recorded in Corporate and other for the thirteen weeks ended May 3, 2026 and May 4, 2025, respectively. Total marketing expenses incurred by the Company for the thirteen weeks ended May 3, 2026 and May 4, 2025 were $115.0 million and $98.9 million, respectively.

(3)    Other segment items include (i) all other segment SG&A expenses other than marketing expense, including direct and indirect costs to operate the segment’s retail store, digital commerce, licensing and wholesale businesses, warehousing and distribution costs, depreciation and amortization, and other costs, and (ii) equity in net income of unconsolidated affiliates.

(4)    Corporate and other includes costs that are not specific to any particular segment, primarily consisting of (i) global brand costs, which include centrally managed marketing, design, and merchandising costs; (ii) corporate expenses, which include centrally managed information technology costs, including network, infrastructure and global systems; expenses for senior corporate management; and expenses for corporate support functions including finance, human resources, legal and information security; and (iii) intangible asset amortization.

(5)     Restructuring and other items for the thirteen weeks ended May 3, 2026 related to the Growth Driver 5 Actions described in Note 14, “Exit Activity Costs,” consisting principally of severance.

(6)    Restructuring and other items for the thirteen weeks ended May 4, 2025 included (i) noncash impairment charges of $479.5 million related to goodwill and other intangible assets discussed further in Note 5, “Goodwill and Other Intangible Assets,” and (ii) costs of $13.2 million incurred related to the Growth Driver 5 Actions described in Note 14, “Exit Activity Costs,” consisting principally of severance.
Additional reportable segment information for the Company is as follows:
Thirteen Weeks Ended
(In millions)5/3/265/4/25
Depreciation and Amortization
EMEA$28.8 $31.0 
Americas9.5 9.7 
APAC10.0 10.4 
Corporate and other13.1 16.6 
Restructuring and other items1.2 
(1)
— 
Total$62.6 $67.7 
(1)    Restructuring and other items for the thirteen weeks ended May 3, 2026 included accelerated depreciation related to the Growth Driver 5 Actions described in Note 14, “Exit Activity Costs.”
Thirteen Weeks Ended
(In millions)5/3/265/4/25
Equity in net income of unconsolidated affiliates
Americas$11.1 $8.4 
APAC2.2 2.1 
Total$13.3 $10.5 
(In millions)5/3/262/1/265/4/25
Inventories, net (1)
EMEA$789.3 $826.4 $837.3 
Americas494.8 492.7 518.4 
APAC226.1 264.4 240.3 
Total inventories, net$1,510.2 $1,583.5 $1,596.0 
All other assets9,831.4 10,097.5 9,076.4 
Total assets$11,341.6 $11,681.0 $10,672.4 
(1)Inventories, net includes the impact of changes in foreign currency exchange rates.
Intersegment transactions, which primarily consist of transfers of inventory, were not material.

Revenue by Brand

The Company’s revenue by brand was as follows:

Thirteen Weeks Ended
(In millions)5/3/26
(1)
5/4/25
(1)
Tommy Hilfiger$1,077.3 $1,048.1 
Calvin Klein895.2 886.1 
Heritage Brands52.6 49.4 
Total$2,025.1 $1,983.6 
(1)    Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.

Revenue by Distribution Channel

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

Thirteen Weeks Ended
(In millions)5/3/26
(1)
5/4/25
(1)
Wholesale revenue$1,067.0 $1,071.3 
Owned and operated retail stores698.9 663.0 
Owned and operated digital commerce sites170.1 153.5 
Retail revenue869.0 816.5 
   Licensing revenue89.1 95.8 
Total$2,025.1 $1,983.6 
(1)    Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.