PVH
27 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.
Customers
Five largest wholesale customers
earns from · 16.6% of our revenue in 2025named as a riskSales to our five largest customers were 16.6%, 15.1% and 13.3% of our revenue in 2025, 2024 and 2023, respectively.Risk factors (Item 1A)
Partners and platforms
Digital commerce
earns from · approximately 20% of our total revenuenamed as a riskGrowing digital revenue, both with respect to our direct-to-consumer businesses and our wholesale business (i.e., sales to pure play and digital commerce businesses of traditional retailers), continues to be a focus for us, representing approximately 20% of our total revenue during 2025.Risk factors (Item 1A)
OpenAI
depends onnamed as a riskWe recently announced a partnership with OpenAI to integrate an enterprise ChatGPT platform throughout various aspects of our operations for which there can be no assurance that we will be fully successful in our utilization of artificial intelligence.Risk factors (Item 1A)
Also named by AMD, COMP, CRWV, HOOD, MRNA, MSFT, NVDA, NYT and 3 more
G-III Apparel Group, Ltd.
earns fromnamed as a riskcontinue to maintain good working relationships with our brand licensees and enter into new, or renew or extend existing, license agreements and successfully transition licensed businesses in house, including our in-process plan to directly operate a significant portion of the businesses for the product categories that are or had been licensed to G-III,Risk factors (Item 1A)
Nike
depends onOur Heritage Brands business consists of the design, sourcing and marketing of a selection of men’s underwear under the Nike brand and men’s dress shirts under Van Heusen and other licensed brand names.Business (Item 1)
Coty Inc.
earns fromCoty Inc. Men’s and women’s fragrance (worldwide)Business (Item 1)
Other companies
Goodwill and intangible assets
$480 million of noncash impairment chargesnamed as a riskAs a result of these interim impairment tests, we recorded $480 million of noncash impairment charges.Risk factors (Item 1A)
TOMMY HILFIGER and Calvin Klein brands
concentrated in · over 95% of our revenuenamed as a riskOur global iconic lifestyle brands, TOMMY HILFIGER and Calvin Klein, together generated over 95% of our revenue during each of 2025 and 2024, and over 90% of our revenue during 2023.Business (Item 1)
Senior unsecured term loans and notes due 2027
€408 million outstandingnamed as a riskWe have senior unsecured term loans (€408 million outstanding as of the end of 2025) and senior unsecured notes (€600.0 million principal amount) coming due in 2027 that will need to be paid or refinanced.Risk factors (Item 1A)
International tourism to the United States
earns fromnamed as a riskThese retail businesses historically also have had a significant portion of their revenue attributable to sales to international tourists and, as such, have been negatively affected by the decrease in international tourists traveling to the United States.Risk factors (Item 1A)
Tommy Hilfiger (founder)
depends onnamed as a riskMr. Hilfiger, who continues his role of Principal Designer, is closely identified with the TOMMY HILFIGER brands and any negative perception with respect to Mr. Hilfiger could adversely affect the brands.Risk factors (Item 1A)
Places
Asia
concentrated in · approximately 1,000 factories in approximately 30 countriesnamed as a riskOur products were produced in approximately 1,000 factories in approximately 30 countries during 2025.Business (Item 1)
Also named by AAPL, AYI, CART, CB, CDW, CHD, CLS, COHR and 31 more
China
operates innamed as a riskThe practical impact of any such restrictions or prohibitions could include our inability to produce goods in China for sale elsewhere, our inability to sell goods on a wholesale or retail basis in China, or our inability to make investments in China.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Hazards
Red Sea
named as a riskAdditionally, shipments are threatened by piracy, military actions and terrorism on shipping routes (like the disruptions that have been occurring in the Red Sea), and similar actions.Risk factors (Item 1A)
War in Ukraine and Middle East conflict
named as a riskConflicts and wars, or the perceived threat of war, also could result in (and, in the case of the war in Ukraine and the conflict in the Middle East has resulted in and the Israel-Hamas war did result in) closed stores (those operated by us and/or by our business partners), and reduced consumer traffic and purchasing.Risk factors (Item 1A)
Commodities and inputs
Euro
exposed to its pricenamed as a riskOur results of operations will be unfavorably impacted by foreign currency translation during times of a strengthening United States dollar, particularly against the euro, the Japanese yen, the Korean won, the British pound, the Australian dollar, the Canadian dollar, the Mexican peso, the Brazilian real and the Chinese yuan, and favorably impacted during times of a weakening United States dollar against those currencies.Risk factors (Item 1A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Cotton
exposed to its pricenamed as a riskVolatility in the availability and prices for commodities and raw materials we use in our products (such as cotton) and inflationary and other macroeconomic pressures, including, for example, the increased costs of labor and raw materials we experienced in 2022 and the first half of 2023 and the new and additional tariffs on goods imported into the United States that took effect beginning in the second quarter of 2025, have resulted in increased pricing pressures and, in turn, pressure on our margins.Risk factors (Item 1A)
Also named by CAH, CROX, FPI, LULU, NKE, RL, SNEX, TSCO and 2 more
Regulators
Office of Foreign Assets Control (OFAC)
subject tonamed as a riskthe regulation or prohibition of the transaction of business with specific individuals or entities and their affiliates or goods manufactured in certain regions, such as the listing of a person or entity as a SDN (Specially Designated Nationals and Blocked Persons) by the United States Department of the Treasury’s Office of Foreign Assets Control and the issuance of WROs by the CBP; andRisk factors (Item 1A)
Also named by ABNB, ADP, AIG, APP, BMI, BMNR, BPOP, CAT and 46 more
China Ministry of Commerce (MOFCOM) List of Unreliable Entities
subject tonamed as a riskIn January 2025, MOFCOM issued a preliminary finding that PVH Corp. had violated normal market trading principles and in February 2025, it announced its determination and placed PVH Corp. on the UEL.Risk factors (Item 1A)
U.S. Customs and Border Protection (CBP) Withhold Release Orders
subject tonamed as a riskAdditionally, other governmental actions, such as the imposition by U.S. Customs and Border Protection (“CBP”) of Withhold Release Orders (“WROs”), have had, continue to have and, in the future, may have an impact on our ability to import goods or to manufacture in or use materials or components from certain locations.Business (Item 1)
Laws and programs
OECD Pillar Two
subject to · 15%named as a riskHowever, the final outcome and application of these rules in the U.S. and other jurisdictions could potentially have a material adverse financial impact on us.Risk factors (Item 1A)
Also named by APO, BAM, BAX, BF/B, CHRW, COHR, CPNG, CRM and 45 more
Section 122 of the Trade Act of 1974
subject to · 150 daysnamed as a riskIn response to that decision, the U.S. President issued an executive order imposing tariffs pursuant to Section 122 of the Trade Act of 1974 for 150 days, effective on February 24, 2026.Risk factors (Item 1A)
Also named by DLTR
General Data Protection Regulation (GDPR)
subject tonamed as a riskThere have been significant enactments and developments in the area of data privacy and cybersecurity laws and regulations, such as the General Data Protection Regulation in the European Union, the California Consumer Privacy Act/California Privacy Rights Act, Personal Information Protection Law in China, and Personal Information Protection Act in South Korea .Risk factors (Item 1A)
Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more
U.S. tariffs on imports
subject tonamed as a riskBeginning in the first quarter of 2025, the United States government announced additional tariffs on goods imported into the United States, with incremental tariffs on products imported from most countries and economic unions, and the potential for further increases and revisions or terminations to existing trade agreements.Business (Item 1)
Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more
Uyghur Forced Labor Prevention Act
subject tonamed as a riskThese and other U.S. government actions, such as the enforcement of the Uyghur Forced Labor Prevention Act and the issuance of WROs, have affected and could continue to affect the sourcing and availability of raw materials used by our suppliers in the manufacturing of certain of our products and our importation of goods into the United States and elsewhere.Risk factors (Item 1A)
Also named by AMRC, ANET, ASO, CROX, DDS, FND, FSLR, LULU and 7 more
Technology
SAP S/4
depends onnamed as a riskWe regularly implement new systems and hardware and are currently undertaking a major multi-year SAP S/4 implementation to upgrade our platforms and systems worldwide.Risk factors (Item 1A)