|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| • | NON-GAAP EPS OF $1.25 EXCEEDED THE TOP END OF THE COMPANY’S GUIDANCE BY $0.05; GAAP EPS WAS $1.19 |

|         |                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------|
| • | CONTINUED MOMENTUM IN TOMMY HILFIGER NORTH AMERICAN AND EUROPEAN BUSINESSES DROVE EARNINGS PERFORMANCE |

|         |                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------|
| • | FULL YEAR NON-GAAP EPS GUIDANCE RAISED TO $6.25 TO $6.32, AN INCREASE OF 16% TO 17% OVER THE PRIOR YEAR’S NON-GAAP EPS |

|         |                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Earnings per share was $1.25 on a non-GAAP basis, which exceeded the Company’s guidance and represents a 17% increase over the prior year period’s non-GAAP earnings per share of $1.07. |

|         |                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------|
| • | GAAP earnings per share was $1.19 and represents a 29% increase over the prior year period’s GAAP earnings per share of $0.92. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Revenue of $1.337 billion was relatively flat as compared to the prior year period and was negatively impacted by $56 million, or 4%, attributable to foreign currency translation ($41 million) and the exit from the Izod women’s and Timberland wholesale sportswear businesses ($15 million). On a constant currency basis and excluding the impact of exited businesses, revenue increased 4%. |

----

----

|         |                                                                                           |
|---------|-------------------------------------------------------------------------------------------|
| • | Earnings per share on a non-GAAP basis was $2.55 as compared to $2.31 for the prior year. |

----

|         |                                                                            |
|---------|----------------------------------------------------------------------------|
| • | GAAP earnings per share was $2.46 as compared to $1.71 for the prior year. |

|         |                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Revenue increased 2% to $2.764 billion, including a negative impact of 3% attributable to foreign currency translation and the exited sportswear businesses. The overall $60.4 million increase in revenue was due to the net impact of: |

|         |                                                                                                                                                                                                                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A 6%, or $84.0 million, increase in the Tommy Hilfiger business, including a negative impact of 4% related to foreign currency translation. This increase was due principally to retail comparable store sales growth of 13% in North America and 11% in Europe, combined with growth of 9% in the European wholesale business. |

|         |                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A 6%, or $27.8 million, increase in the Calvin Klein business. Comparable store sales for the Company’s Calvin Klein outlet retail business grew 7% and royalty revenue increased 2%, including a negative impact of 2% related to foreign currency translation. |

|         |                                                                                                                                                                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A 6%, or $51.4 million, decrease in the Heritage Brands business, including a negative impact of 2% related to the exited sportswear businesses. Comparable store sales in the Heritage Brands retail business remained relatively flat, while the Company’s ongoing wholesale businesses experienced an 8% decrease. |

|         |                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------|
| • | On a non-GAAP basis, earnings before interest and taxes decreased $8.7 million to $309.8 million. This change resulted from: |

|         |                                                                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A $33.6 million increase in the Tommy Hilfiger business due principally to the revenue increase mentioned above combined with higher operating margins due to an increase in average unit retail selling prices and expense leverage. |

|         |                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A $3.1 million decrease in the Calvin Klein business, as revenue growth was more than offset by a planned decrease in gross margin rates resulting from higher product costs. |

|         |                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A $29.4 million decrease in the Heritage Brands business due principally to the revenue decrease mentioned above, combined with planned lower gross margin rates driven by higher product costs. |

|         |                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | A $9.9 million increase in corporate expenses due principally to an increase in pension expense resulting from a decrease in discount rates. |

|         |                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | GAAP earnings before interest and taxes increased $48.0 million to $301.9 million. Earnings increases of $60.4 million in the Tommy Hilfiger business and a reduction in |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | On a non-GAAP basis, the effective tax rate was 25.6% as compared to 33.9% in the prior year. The GAAP effective tax rate was 26.0% as compared to 34.3% for the prior year. The Company’s 2012 tax rates were positively impacted by a greater portion of the Company’s earnings being generated by the Company’s international Tommy Hilfiger business, a significant portion of which is subject to favorable tax rates, as well as the continuation of the tax synergies resulting from the Tommy Hilfiger acquisition. |

----

----

----

|         |                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $69.5 million incurred in 2011 in connection with the integration of Tommy Hilfiger and the related restructuring, of which $30.5 million was incurred in the first quarter, $11.2 million was incurred in the second quarter, $9.3 million was incurred in the third quarter, and $18.6 million was incurred in the fourth quarter. |

|         |                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $16.2 million incurred in the first quarter of 2011 in connection with the amendment and restatement of the Company’s credit facility. |

|         |                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $8.1 million incurred in 2011 in connection with the Company’s negotiated early termination of its license to market sportswear under the Timberland brand and the Company’s 2012 exit from the Izod women’s wholesale sportswear |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A pre-tax expense of $20.7 million incurred in the third quarter of 2011 in connection with the Company’s reacquisition of the rights in India to the Tommy Hilfiger trademarks that had been subject to a perpetual license, as under accounting rules, the Company was required to record an expense due to settling the preexisting license agreement, which was unfavorable to the Company. |

|         |                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A tax benefit of $5.4 million recorded in the fourth quarter of 2011 resulting from revaluing certain deferred tax liabilities in connection with a decrease in the statutory tax rate in Japan. |

|         |                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $15 million expected to be incurred in 2012 principally in connection with the integration of Tommy Hilfiger and the related restructuring, of which $3.3 million was incurred in the first quarter, $4.5 million was incurred in the second quarter and approximately $5 million is expected to be incurred in the third quarter. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Estimated tax effects associated with the above pre-tax costs, which are based on the Company’s assessment of deductibility. In making this assessment, the Company evaluated each item that it has recorded as an acquisition, integration, restructuring or debt modification cost to determine if such cost is tax deductible, and if so, in what jurisdiction the deduction would occur. All items above were identified as either primarily tax deductible in the United States, in which case the Company assumed a combined federal and state tax rate of 38.0%, or as non-deductible, in which case the Company assumed no tax benefit. |

----

----

----

----

----

----

----

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |
|                                                   |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net sales                                              |   | $ | 1,219,620 |  |   | $ | 1,227,730 |  |   |   |   | $ | 2,532,469 |  |   | $ | 2,484,716 |  |   |
| Royalty revenue                                        |   | 82,513 |  |   | 77,019 |  |   |   |   | 167,973 |  |   | 159,011 |  |   |
| Advertising and other revenue                          |   | 34,490 |  |   | 29,695 |  |   |   |   | 63,587 |  |   | 59,901 |  |   |
| Total revenue                                          |   | $ | 1,336,623 |  |   | $ | 1,334,444 |  |   |   |   | $ | 2,764,029 |  |   | $ | 2,703,628 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit on net sales                              |   | $ | 625,658 |  |   | $ | 617,418 |  |   |   |   | $ | 1,267,930 |  |   | $ | 1,233,799 |  |   |
| Gross profit on royalty, advertising and other revenue |   | 117,003 |  |   | 106,714 |  |   |   |   | 231,560 |  |   | 218,912 |  |   |
| Total gross profit                                     |   | 742,661 |  |   | 724,132 |  |   |   |   | 1,499,490 |  |   | 1,452,711 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Selling, general and administrative expenses           |   | 592,929 |  |   | 590,653 |  |   |   |   | 1,199,434 |  |   | 1,182,555 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification costs                                |   |  |  |   |  |   |   |   |  |   | 16,233 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in (loss) income of unconsolidated affiliates   |   | (74 | ) |   |  |   |   |   | 1,850 |  |   |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes                     |   | 149,658 |  |   | 133,479 |  |   |   |   | 301,906 |  |   | 253,923 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense, net                                  |   | 28,355 |  |   | 31,446 |  |   |   |   | 57,599 |  |   | 64,516 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Pre-tax income                                         |   | 121,303 |  |   | 102,033 |  |   |   |   | 244,307 |  |   | 189,407 |  |   |
|                                                   |   |  |  |   |   |   |   |   |   |   |   |   |
| Income tax expense                                     |   | 33,601 |  |   | 35,304 |  |   |   |   | 63,491 |  |   | 65,011 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                             |   | $ | 87,702 |  |   | $ | 66,729 |  |   |   |   | $ | 180,816 |  |   | $ | 124,396 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share(1)                 |   | $ | 1.19 |  |   | $ | 0.92 |  |   |   |   | $ | 2.46 |  |   | $ | 1.71 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |
|                                                   |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense                  |   | $ | 34,333 |  |   | $ | 31,966 |  |   |   |   | $ | 67,792 |  |   | $ | 66,447 |  |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                   |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Please see Note A in the Notes to Consolidated GAAP Income Statements for reconciliations of diluted net income per common share. |

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                            |   | Quarter Ended |   |   |   | Six Months Ended |   |
|                                            |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |
|                                            |   |   |   |   |   |   |   |   |   |   |   |
| GAAP total revenue                              |   | $ | 1,336,623 |  |   | $ | 1,334,444 |  |   |   |   | $ | 2,764,029 |  |   | $ | 2,703,628 |  |   |
|                                            |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP Measures                               |   |   |   |   |   |   |   |   |   |   |   |
| Total gross profit(1)                           |   |   |   | $ | 726,285 |  |   |   |   |   |   | $ | 1,454,864 |  |   |
| Selling, general and administrative expenses(2) |   | $ | 588,388 |  |   | 574,930 |  |   |   |   | $ | 1,191,577 |  |   | 1,136,373 |  |   |
| Earnings before interest and taxes(3)           |   | 154,199 |  |   | 151,355 |  |   |   |   | 309,763 |  |   | 318,491 |  |   |
| Income tax expense(4)                           |   | 33,852 |  |   | 41,609 |  |   |   |   | 64,674 |  |   | 86,119 |  |   |
| Net income(5)                                   |   | 91,992 |  |   | 78,300 |  |   |   |   | 187,490 |  |   | 167,856 |  |   |
| Diluted net income per common share(6)          |   | $ | 1.25 |  |   | $ | 1.07 |  |   |   |   | $ | 2.55 |  |   | $ | 2.31 |  |   |
|                                            |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                             |
| (1)    Please see Table 3 for reconciliation of GAAP to non-GAAP gross profit.                                                                                                                                                          |
| (2)    Please see Table 4 for reconciliation of GAAP to non-GAAP selling, general and administrative expenses (“SG&A”).                                                                                                 |
| (3)    Please see Table 2 for reconciliation of GAAP earnings before interest and taxes to non-GAAP earnings before interest and taxes.                                                                                                 |
| (4)    Please see Table 5 for reconciliation of GAAP income tax expense to non-GAAP income tax expense and an explanation of the calculation of the tax effects associated with integration, restructuring and debt modification costs. |
| (5)    Please see Table 1 for reconciliation of GAAP net income to non-GAAP net income.                                                                                                                                                 |
| (6)    Please see Note A in the Notes to Consolidated GAAP Income Statements for reconciliations of diluted net income per common share.                                                                                                |

----

|                                                                                                                                             |
|---------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 1 - Reconciliation of GAAP net income to non-GAAP net income                                                                          |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                        |   | Quarter Ended |   |   |   | Six Months Ended |   |
|                                                                                                                                        |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                                                                  |   | $ | 87,702 |  |   | $ | 66,729 |  |   |   |   | $ | 180,816 |  |   | $ | 124,396 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share(1)                                                                                                      |   | $ | 1.19 |  |   | $ | 0.92 |  |   |   |   | $ | 2.46 |  |   | $ | 1.71 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Inventory liquidation costs associated with exit of certain Tommy Hilfiger product categories (gross margin)                                |   |   |   | 2,153 |  |   |   |   |   |   | 2,153 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with Tommy Hilfiger integration and related restructuring                                                      |   | 4,541 |  |   | 9,073 |  |   |   |   | 7,857 |  |   | 39,532 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with negotiated termination of license to market Timberland sportswear                                    |   |   |   | 6,650 |  |   |   |   |   |   | 6,650 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification costs                                                                                                                     |   |  |   |  |   |   |   |  |   | 16,233 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Tax effect of the items above(2)                                                                                                            |   | (251 | ) |   | (6,305 | ) |   |   |   | (1,183 | ) |   | (21,108 | ) |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP net income                                                                                                                         |   | $ | 91,992 |  |   | $ | 78,300 |  |   |   |   | $ | 187,490 |  |   | $ | 167,856 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP diluted net income per common share(1)                                                                                             |   | $ | 1.25 |  |   | $ | 1.07 |  |   |   |   | $ | 2.55 |  |   | $ | 2.31 |  |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |
| (1)   Please see Note A in the Notes to the Consolidated GAAP Income Statements for reconciliations of diluted net income per common share. |
| (2)   Please see Table 5 for an explanation of the calculation of the tax effects of the above items.                                       |

----

|                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 2 - Reconciliation of GAAP earnings before interest and taxes to non-GAAP earnings before interest and taxes |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                               |   | Quarter Ended |   |   |   | Six Months Ended |   |
|                                                                                                               |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes                                                                                 |   | $ | 149,658 |  |   | $ | 133,479 |  |   |   |   | $ | 301,906 |  |   | $ | 253,923 |  |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Inventory liquidation costs associated with exit of certain Tommy Hilfiger product categories (gross margin)       |   |   |   | 2,153 |  |   |   |   |   |   | 2,153 |  |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with Tommy Hilfiger integration and related restructuring                             |   | 4,541 |  |   | 9,073 |  |   |   |   | 7,857 |  |   | 39,532 |  |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with negotiated termination of license to market Timberland sportswear      |   |   |   | 6,650 |  |   |   |   |   |   | 6,650 |  |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification costs                                                                                            |   |  |   |  |   |   |   |  |   | 16,233 |  |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP earnings before interest and taxes                                                                        |   | $ | 154,199 |  |   | $ | 151,355 |  |   |   |   | $ | 309,763 |  |   | $ | 318,491 |  |   |
|                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                    |
|----------------------------------------------------------------------------------------------------|
|                                                                                                    |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 3 - Reconciliation of GAAP gross profit to non-GAAP gross profit                             |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               | Quarter Ended |   | Six Months Ended |   |
|                                                                                               |   | 7/31/11 |   |   |   | 7/31/11 |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Gross profit                                                                                       |   | $ | 724,132 |  |   |   |   | $ | 1,452,711 |  |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                    |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Inventory liquidation costs associated with exit of certain Tommy Hilfiger product categories |   | 2,153 |  |   |   |   | 2,153 |  |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Non-GAAP gross profit                                                                              |   | $ | 726,285 |  |   |   |   | $ | 1,454,864 |  |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |

|                                                                                                          |
|----------------------------------------------------------------------------------------------------------|
|                                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 4 - Reconciliation of GAAP SG&A to non-GAAP SG&A                                           |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                     |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                     |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A                                                                                                 |   | $ | 592,929 |  |   | $ | 590,653 |  |   |   |   | $ | 1,199,434 |  |   | $ | 1,182,555 |  |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with Tommy Hilfiger integration and related restructuring                   |   | (4,541 | ) |   | (9,073 | ) |   |   |   | (7,857 | ) |   | (39,532 | ) |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with negotiated termination of license to market Timberland sportswear |   |   |   | (6,650 | ) |   |   |   |   |   | (6,650 | ) |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP SG&A                                                                                        |   | $ | 588,388 |  |   | $ | 574,930 |  |   |   |   | $ | 1,191,577 |  |   | $ | 1,136,373 |  |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 5 - Reconciliation of GAAP income tax expense to non-GAAP income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 7/29/12 |   | 7/31/11 |   |   |   | 7/29/12 |   | 7/31/11 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $ | 33,601 |  |   | $ | 35,304 |  |   |   |   | $ | 63,491 |  |   | $ | 65,011 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax effect of integration, restructuring and debt modification costs (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 251 |  |   | 6,305 |  |   |   |   | 1,183 |  |   | 21,108 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $ | 33,852 |  |   | $ | 41,609 |  |   |   |   | $ | 64,674 |  |   | $ | 86,119 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| (1) The estimated tax effects of the Company’s integration, restructuring and debt modification costs are based on the Company’s assessment of deductibility. In making this assessment, the Company evaluated each item that it has recorded as an integration, restructuring and debt modification cost to determine if such cost is tax deductible, and if so, in what jurisdiction the deduction would occur. All of the Company’s integration, restructuring and debt modification costs were identified as either primarily tax deductible in the United States, in which case the Company assumed a combined federal and state tax rate of 38.0%, or as non-deductible, in which case the Company assumed no tax benefit. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                           |
|---------------------------------------------------------------------------|
|                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                      |   | Quarter Ended |   |   |   | Quarter Ended |
|                                                                      |   | 7/29/12 |   |   |   | 7/31/11 |
|                                                                      |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                                      |   | Results |   | Adjustments |   | Results |   |   |   | Results |   | Adjustments |   | Results |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                |   | $ | 87,702 |  |   | $ | (4,290 | ) | (1)  | $ | 91,992 |  |   |   |   | $ | 66,729 |  |   | $ | (11,571 | ) | (2)  | $ | 78,300 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                            |   | 70,403 |  |   |   |   | 70,403 |  |   |   |   | 67,129 |  |   |   |   | 67,129 |  |   |
| Weighted average dilutive securities                                      |   | 1,105 |  |   |   |   | 1,105 |  |   |   |   | 1,551 |  |   |   |   | 1,551 |  |   |
| Weighted average impact of assumed convertible preferred stock conversion |   | 2,095 |  |   |   |   | 2,095 |  |   |   |   | 4,189 |  |   |   |   | 4,189 |  |   |
| Total shares                                                              |   | 73,603 |  |   |   |   | 73,603 |  |   |   |   | 72,869 |  |   |   |   | 72,869 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share                                       |   | $ | 1.19 |  |   |   |   | $ | 1.25 |  |   |   |   | $ | 0.92 |  |   |   |   | $ | 1.07 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                           |
|---------------------------------------------------------------------------|
|                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                      |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                                                      |   | 7/29/12 |   |   |   | 7/31/11 |   |
|                                                                      |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                                      |   | Results |   | Adjustments |   | Results |   |   |   | Results |   | Adjustments |   | Results |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                |   | $ | 180,816 |  |   | $ | (6,674 | ) | (1)  | $ | 187,490 |  |   |   |   | $ | 124,396 |  |   | $ | (43,460 | ) | (2)  | $ | 167,856 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                            |   | 69,471 |  |   |   |   | 69,471 |  |   |   |   | 66,964 |  |   |   |   | 66,964 |  |   |
| Weighted average dilutive securities                                      |   | 1,346 |  |   |   |   | 1,346 |  |   |   |   | 1,578 |  |   |   |   | 1,578 |  |   |
| Weighted average impact of assumed convertible preferred stock conversion |   | 2,785 |  |   |   |   | 2,785 |  |   |   |   | 4,189 |  |   |   |   | 4,189 |  |   |
| Total shares                                                              |   | 73,602 |  |   |   |   | 73,602 |  |   |   |   | 72,731 |  |   |   |   | 72,731 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share                                       |   | $ | 2.46 |  |   |   |   | $ | 2.55 |  |   |   |   | $ | 1.71 |  |   |   |   | $ | 2.31 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                   |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Represents the impact on net income in the period ended July 29, 2012 from the elimination of (i) the costs incurred in connection with the Company’s integration of Tommy Hilfiger and the related restructuring; and (ii) the tax effects associated with these costs. Please see Table 1 for a reconciliation of GAAP net income to non-GAAP net income. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Represents the impact on net income in the period ended July 31, 2011 from the elimination of (i) the costs incurred in connection with the Company’s integration of Tommy Hilfiger and related restructuring; (ii) the costs incurred in connection with the Company’s modification of its credit facility; (iii) the costs incurred in connection with the Company’s negotiated early termination of its license to market sportswear under the Timberland brand; and (iv) the tax effects associated with these costs. Please see Table 1 for a reconciliation of GAAP net income to non-GAAP net income. |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |
|                                       | July 29, |   | July 31, |
|                                       | 2012 |   | 2011 |
| ASSETS                                     |   |   |   |
| Current Assets:                            |   |   |   |
| Cash and Cash Equivalents                  | $ | 261,986 |  |   | $ | 287,691 |  |
| Receivables                                | 425,665 |  |   | 413,846 |  |
| Inventories                                | 909,447 |  |   | 912,988 |  |
| Other Current Assets                       | 222,840 |  |   | 168,714 |  |
| Total Current Assets                       | 1,819,938 |  |   | 1,783,239 |  |
| Property, Plant and Equipment              | 484,443 |  |   | 426,367 |  |
| Goodwill and Other Intangible Assets       | 4,261,467 |  |   | 4,569,737 |  |
| Other Assets                               | 165,640 |  |   | 140,786 |  |
|                                       | $ | 6,731,488 |  |   | $ | 6,920,129 |  |
|                                       |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |   |   |   |
| Accounts Payable and Accrued Expenses      | $ | 968,581 |  |   | $ | 942,908 |  |
| Short-Term Borrowings                      | 52,791 |  |   | 13,006 |  |
| Current Portion of Long-Term Debt          | 88,021 |  |   | 51,816 |  |
| Other Liabilities                          | 1,125,431 |  |   | 1,111,132 |  |
| Long-Term Debt                             | 1,715,464 |  |   | 2,090,062 |  |
| Stockholders’ Equity                 | 2,781,200 |  |   | 2,711,205 |  |
|                                       | $ | 6,731,488 |  |   | $ | 6,920,129 |  |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                  |   |   |   |   |   |   |   |
| Segment Data                               |   |   |   |   |   |   |   |
| (In thousands)                             |   |   |   |   |   |   |   |
|                                       |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT                         |   |   |   |   |   |   |   |
|                                       |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                                       |   | 7/29/12 |   |   |   | 7/31/11 |   |
| Heritage Brand Wholesale Dress Furnishings |   |   |   |   |   |   |   |
| Net sales                                  |   | $ | 105,567 |  |   |   |   | $ | 123,771 |  |   |
| Royalty revenue                            |   | 1,315 |  |   |   |   | 1,468 |  |   |
| Advertising and other revenue              |   | 830 |  |   |   |   | 414 |  |   |
| Total                                      |   | 107,712 |  |   |   |   | 125,653 |  |   |
|                                       |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Sportswear        |   |   |   |   |   |   |   |
| Net sales                                  |   | 77,933 |  |   |   |   | 96,107 |  |   |
| Royalty revenue                            |   | 2,544 |  |   |   |   | 2,707 |  |   |
| Advertising and other revenue              |   | 359 |  |   |   |   | 475 |  |   |
| Total                                      |   | 80,836 |  |   |   |   | 99,289 |  |   |
|                                       |   |   |   |   |   |   |   |
| Heritage Brand Retail                      |   |   |   |   |   |   |   |
| Net sales                                  |   | 173,473 |  |   |   |   | 175,212 |  |   |
| Royalty revenue                            |   | 1,229 |  |   |   |   | 1,239 |  |   |
| Advertising and other revenue              |   | 236 |  |   |   |   | 277 |  |   |
| Total                                      |   | 174,938 |  |   |   |   | 176,728 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Heritage Brands                      |   |   |   |   |   |   |   |
| Net sales                                  |   | 356,973 |  |   |   |   | 395,090 |  |   |
| Royalty revenue                            |   | 5,088 |  |   |   |   | 5,414 |  |   |
| Advertising and other revenue              |   | 1,425 |  |   |   |   | 1,166 |  |   |
| Total                                      |   | 363,486 |  |   |   |   | 401,670 |  |   |
|                                       |   |   |   |   |   |   |   |
| Other (Calvin Klein Apparel)               |   |   |   |   |   |   |   |
| Net sales                                  |   | 153,691 |  |   |   |   | 148,911 |  |   |
| Total                                      |   | 153,691 |  |   |   |   | 148,911 |  |   |
|                                       |   |   |   |   |   |   |   |
| Calvin Klein Licensing                     |   |   |   |   |   |   |   |
| Net sales                                  |   | 8,979 |  |   |   |   | 7,993 |  |   |
| Royalty revenue                            |   | 59,246 |  |   |   |   | 57,555 |  |   |
| Advertising and other revenue              |   | 29,315 |  |   |   |   | 25,441 |  |   |
| Total                                      |   | 97,540 |  |   |   |   | 90,989 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Calvin Klein                         |   |   |   |   |   |   |   |
| Net sales                                  |   | 162,670 |  |   |   |   | 156,904 |  |   |
| Royalty revenue                            |   | 59,246 |  |   |   |   | 57,555 |  |   |
| Advertising and other revenue              |   | 29,315 |  |   |   |   | 25,441 |  |   |
| Total                                      |   | 251,231 |  |   |   |   | 239,900 |  |   |
|                                       |   |   |   |   |   |   |   |
| Tommy Hilfiger North America               |   |   |   |   |   |   |   |
| Net sales                                  |   | 324,482 |  |   |   |   | 293,760 |  |   |
| Royalty revenue                            |   | 5,101 |  |   |   |   | 4,260 |  |   |
| Advertising and other revenue              |   | 2,285 |  |   |   |   | 2,005 |  |   |
| Total                                      |   | 331,868 |  |   |   |   | 300,025 |  |   |
|                                       |   |   |   |   |   |   |   |
| Tommy Hilfiger International               |   |   |   |   |   |   |   |
| Net sales                                  |   | 375,495 |  |   |   |   | 381,976 |  |   |
| Royalty revenue                            |   | 13,078 |  |   |   |   | 9,790 |  |   |
| Advertising and other revenue              |   | 1,465 |  |   |   |   | 1,083 |  |   |
| Total                                      |   | 390,038 |  |   |   |   | 392,849 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                       |   |   |   |   |   |   |   |
| Net sales                                  |   | 699,977 |  |   |   |   | 675,736 |  |   |
| Royalty revenue                            |   | 18,179 |  |   |   |   | 14,050 |  |   |
| Advertising and other revenue              |   | 3,750 |  |   |   |   | 3,088 |  |   |
| Total                                      |   | 721,906 |  |   |   |   | 692,874 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Revenue                              |   |   |   |   |   |   |   |
| Net sales                                  |   | 1,219,620 |  |   |   |   | 1,227,730 |  |   |
| Royalty revenue                            |   | 82,513 |  |   |   |   | 77,019 |  |   |
| Advertising and other revenue              |   | 34,490 |  |   |   |   | 29,695 |  |   |
| Total                                      |   | $ | 1,336,623 |  |   |   |   | $ | 1,334,444 |  |   |
|                                       |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In thousands)                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |   |   |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                                          |   | 7/29/12 |   |   |   | 7/31/11 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   | GAAP(3) |   | Adjustments(2) |   | Results(3) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Dress Furnishings    |   | $ | 9,640 |  |   |  |  |   | $ | 9,640 |  |   |   |   | $ | 14,284 |  |   |  |  |   | $ | 14,284 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Sportswear           |   | 4,203 |  |   |  |  |   | 4,203 |  |   |   |   | (5,204 | ) |   | $ | (6,650 | ) |   | 1,446 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Retail                         |   | 9,358 |  |   |  |  |   | 9,358 |  |   |   |   | 15,188 |  |   |  |   | 15,188 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 23,201 |  |   |  |  |   | 23,201 |  |   |   |   | 24,268 |  |   | (6,650 | ) |   | 30,918 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other (Calvin Klein Apparel)                  |   | 14,913 |  |   |  |  |   | 14,913 |  |   |   |   | 22,114 |  |   |  |  |   | 22,114 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein Licensing                        |   | 45,314 |  |   |  |  |   | 45,314 |  |   |   |   | 43,941 |  |   |  |   | 43,941 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 60,227 |  |   |  |  |   | 60,227 |  |   |   |   | 66,055 |  |   |  |  |   | 66,055 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 52,693 |  |   |  |  |   | 52,693 |  |   |   |   | 31,426 |  |   | (6,651 | ) |   | 38,077 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 41,113 |  |   | $ | (3,497 | ) |   | 44,610 |  |   |   |   | 37,673 |  |   |  |  |   | 37,673 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 93,806 |  |   | (3,497 | ) |   | 97,303 |  |   |   |   | 69,099 |  |   | (6,651 | ) |   | 75,750 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (27,576 | ) |   | (1,044 | ) |   | (26,532 | ) |   |   |   | (25,943 | ) |   | (4,575 | ) |   | (21,368 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 149,658 |  |   | $ | (4,541 | ) |   | $ | 154,199 |  |   |   |   | $ | 133,479 |  |   | $ | (17,876 | ) |   | $ | 151,355 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for the quarter ended July 29, 2012 represent the elimination of the costs incurred in connection with the Company’s integration of Tommy Hilfiger and the related restructuring. |

|           |                                                                                                                                                                                                                                                                                                                   |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Adjustments for the quarter ended July 31, 2011 represent the elimination of the costs incurred in connection with the Company’s (i) integration of Tommy Hilfiger and the related restructuring; and (ii) negotiated early termination of its license to market sportswear under the Timberland brand. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | In the fourth quarter of 2011, the Company changed the way actuarial gains and losses from its defined benefit pension plans are allocated to its reportable segments. Actuarial gains and losses are now included as part of corporate expenses and are not allocated to any reportable segment. Prior periods have been restated in order to present that information on a basis consistent with the current year. |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                  |   |   |   |   |   |   |   |
| Segment Data (continued)                   |   |   |   |   |   |   |   |
| (In thousands)                             |   |   |   |   |   |   |   |
|                                       |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT                         |   |   |   |   |   |   |   |
|                                       |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                       |   | 7/29/12 |   |   |   | 7/31/11 |   |
| Heritage Brand Wholesale Dress Furnishings |   |   |   |   |   |   |   |
| Net sales                                  |   | $ | 225,453 |  |   |   |   | $ | 258,460 |  |   |
| Royalty revenue                            |   | 2,832 |  |   |   |   | 2,953 |  |   |
| Advertising and other revenue              |   | 1,537 |  |   |   |   | 818 |  |   |
| Total                                      |   | 229,822 |  |   |   |   | 262,231 |  |   |
|                                       |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Sportswear        |   |   |   |   |   |   |   |
| Net sales                                  |   | 212,165 |  |   |   |   | 231,561 |  |   |
| Royalty revenue                            |   | 5,007 |  |   |   |   | 5,148 |  |   |
| Advertising and other revenue              |   | 820 |  |   |   |   | 881 |  |   |
| Total                                      |   | 217,992 |  |   |   |   | 237,590 |  |   |
|                                       |   |   |   |   |   |   |   |
| Heritage Brand Retail                      |   |   |   |   |   |   |   |
| Net sales                                  |   | 307,655 |  |   |   |   | 306,889 |  |   |
| Royalty revenue                            |   | 2,432 |  |   |   |   | 2,537 |  |   |
| Advertising and other revenue              |   | 507 |  |   |   |   | 518 |  |   |
| Total                                      |   | 310,594 |  |   |   |   | 309,944 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Heritage Brands                      |   |   |   |   |   |   |   |
| Net sales                                  |   | 745,273 |  |   |   |   | 796,910 |  |   |
| Royalty revenue                            |   | 10,271 |  |   |   |   | 10,638 |  |   |
| Advertising and other revenue              |   | 2,864 |  |   |   |   | 2,217 |  |   |
| Total                                      |   | 758,408 |  |   |   |   | 809,765 |  |   |
|                                       |   |   |   |   |   |   |   |
| Other (Calvin Klein Apparel)               |   |   |   |   |   |   |   |
| Net sales                                  |   | 317,166 |  |   |   |   | 295,342 |  |   |
| Total                                      |   | 317,166 |  |   |   |   | 295,342 |  |   |
|                                       |   |   |   |   |   |   |   |
| Calvin Klein Licensing                     |   |   |   |   |   |   |   |
| Net sales                                  |   | 17,223 |  |   |   |   | 15,435 |  |   |
| Royalty revenue                            |   | 124,719 |  |   |   |   | 122,439 |  |   |
| Advertising and other revenue              |   | 54,242 |  |   |   |   | 52,330 |  |   |
| Total                                      |   | 196,184 |  |   |   |   | 190,204 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Calvin Klein                         |   |   |   |   |   |   |   |
| Net sales                                  |   | 334,389 |  |   |   |   | 310,777 |  |   |
| Royalty revenue                            |   | 124,719 |  |   |   |   | 122,439 |  |   |
| Advertising and other revenue              |   | 54,242 |  |   |   |   | 52,330 |  |   |
| Total                                      |   | 513,350 |  |   |   |   | 485,546 |  |   |
|                                       |   |   |   |   |   |   |   |
| Tommy Hilfiger North America               |   |   |   |   |   |   |   |
| Net sales                                  |   | 623,462 |  |   |   |   | 561,397 |  |   |
| Royalty revenue                            |   | 9,625 |  |   |   |   | 7,121 |  |   |
| Advertising and other revenue              |   | 3,972 |  |   |   |   | 3,291 |  |   |
| Total                                      |   | 637,059 |  |   |   |   | 571,809 |  |   |
|                                       |   |   |   |   |   |   |   |
| Tommy Hilfiger International               |   |   |   |   |   |   |   |
| Net sales                                  |   | 829,345 |  |   |   |   | 815,632 |  |   |
| Royalty revenue                            |   | 23,358 |  |   |   |   | 18,813 |  |   |
| Advertising and other revenue              |   | 2,509 |  |   |   |   | 2,063 |  |   |
| Total                                      |   | 855,212 |  |   |   |   | 836,508 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                       |   |   |   |   |   |   |   |
| Net sales                                  |   | 1,452,807 |  |   |   |   | 1,377,029 |  |   |
| Royalty revenue                            |   | 32,983 |  |   |   |   | 25,934 |  |   |
| Advertising and other revenue              |   | 6,481 |  |   |   |   | 5,354 |  |   |
| Total                                      |   | 1,492,271 |  |   |   |   | 1,408,317 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Revenue                              |   |   |   |   |   |   |   |
| Net sales                                  |   | 2,532,469 |  |   |   |   | 2,484,716 |  |   |
| Royalty revenue                            |   | 167,973 |  |   |   |   | 159,011 |  |   |
| Advertising and other revenue              |   | 63,587 |  |   |   |   | 59,901 |  |   |
| Total                                      |   | $ | 2,764,029 |  |   |   |   | $ | 2,703,628 |  |   |
|                                       |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                 |   |   |   |   |   |   |   |   |   |
| (In thousands)                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                          |   | 7/29/12 |   |   |   | 7/31/11 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   |   GAAP(3) |   | Adjustments(2) |   |   Results(3) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Dress Furnishings    |   | $ | 18,556 |  |   |                    |  |   | $ | 18,556 |  |   |   |   | $ | 34,935 |  |   |  |   | $ | 34,935 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Sportswear           |   | 15,573 |  |   |  |  |   | 15,573 |  |   |   |   | 9,067 |  |   | $ | (6,650 | ) |   | 15,717 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Retail                         |   | 6,814 |  |   |   |   | 6,814 |  |   |   |   | 19,689 |  |   |   |   | 19,689 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 40,943 |  |   |  |  |   | 40,943 |  |   |   |   | 63,691 |  |   | (6,650 | ) |   | 70,341 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other (Calvin Klein Apparel)                  |   | 32,511 |  |   |   |   | 32,511 |  |   |   |   | 43,057 |  |   |   |   | 43,057 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein Licensing                        |   | 86,058 |  |   |   |   | 86,058 |  |   |   |   | 78,591 |  |   |   |   | 78,591 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 118,569 |  |   |   |   | 118,569 |  |   |   |   | 121,648 |  |   |   |   | 121,648 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 81,627 |  |   | $ | (379 | ) |   | 82,006 |  |   |   |   | 19,215 |  |   | (30,142 | ) |   | 49,357 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 114,593 |  |   | (3,497 | ) |   | 118,090 |  |   |   |   | 116,655 |  |   | (448 | ) |   | 117,103 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 196,220 |  |   | (3,876 | ) |   | 200,096 |  |   |   |   | 135,870 |  |   | (30,590 | ) |   | 166,460 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (53,826 | ) |   | (3,981 | ) |   | (49,845 | ) |   |   |   | (67,286 | ) |   | (27,328 | ) |   | (39,958 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 301,906 |  |   | $ | (7,857 | ) |   | $ | 309,763 |  |   |   |   | $ | 253,923 |  |   | $ | (64,568 | ) |   | $ | 318,491 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                    |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for the period ended July 29, 2012 represent the elimination of the costs incurred in connection with the Company’s integration of Tommy Hilfiger and the related restructuring. |

|           |                                                                                                                                                                                                                                                                                                                                                             |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Adjustments for the period ended July 31, 2011 represent the elimination of the costs incurred in connection with the Company’s (i) integration of Tommy Hilfiger and the related restructuring; (ii) modification of its credit facility; and (iii) negotiated early termination of its license to market sportswear under the Timberland brand. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | In the fourth quarter of 2011 the Company changed the way actuarial gains and losses from its defined benefit pension plans are allocated to its reportable segments. Actuarial gains and losses are now included as part of corporate expenses not allocated to any reportable segments. Prior periods have been restated in order to present that information on a basis consistent with the current year. |

----

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |
| 2012 Net Income Per Common Share Reconciliations                                    |   | Full Year2012(Estimated) |   | Third Quarter2012(Estimated) |   |
|                                                                                |   |   |   |   |   |
| GAAP net income per common share                                                    |   | $6.10 - $6.17 |   | $2.15 - $2.20 |   |
| Estimated per common share impact of after tax integration and restructuring costs  |   | $0.15 |   | $0.05 |   |
| Net income per common share excluding impact of integration and restructuring costs |   | $6.25 - $6.32 |   | $2.20 - $2.25 |   |

----

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                |   | Full Year 2011 |   | Third Quarter 2011 |
|                                | (Actual) |   | (Actual) |
|                                | Results Under GAAP |   | Adjustments |   | Non-GAAP Results |   | Results Under GAAP |   | Adjustments |   | Non-GAAP Results |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                          |   | $ | 317.9 |  |   | $ | (74.3 | ) | (1)  | $ | 392.2 |  |   | $ | 112.2 |  |   | $ | (26.0 | ) | (2)  | $ | 138.2 |  |
| Total weighted average shares       |   | 72.9 |  |   |   |   | 72.9 |  |   | 73.0 |  |   |   |   | 73.0 |  |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share |   | $ | 4.36 |  |   |   |   | $ | 5.38 |  |   | $ | 1.54 |  |   |   |   | $ | 1.89 |  |