|         |                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Second quarter revenue increased 4% on a GAAP basis to $1.93 billion (increased 5% on a constant currency basis) compared to the prior year period. |

|         |                                                                                          |
|---------|------------------------------------------------------------------------------------------|
| • | Second quarter EPS on a GAAP basis was $1.11 compared to $1.22 in the prior year period. |

|         |                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Second quarter EPS on a non-GAAP basis was $1.47, which exceeded previous guidance of $1.25 to $1.30 and included a $0.46 per share negative impact compared to the prior year period related to foreign currency exchange rates. |

|         |                                                                                              |
|---------|----------------------------------------------------------------------------------------------|
| • | Full year 2016 EPS guidance on a GAAP basis is projected to be in a range of $7.50 to $7.60. |

|         |                                                                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Full year 2016 EPS guidance on a non-GAAP basis is projected to be in a range of $6.55 to $6.65, which includes a negative impact of approximately $1.60 per share related to foreign currency exchange rates. Previous guidance was $6.45 to $6.55, which included a $1.55 per share negative impact related to foreign currency exchange rates. |

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----

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | An 11% increase on a GAAP basis (14% increase on a constant currency basis) in the Calvin Klein business compared to the prior year period, driven by significant growth in Europe and the North America wholesale business. International retail comparable store sales increased 6%. North America retail comparable store sales decreased 4% driven by the continued weakness in traffic and consumer spending trends in Calvin Klein’s U.S. stores located in international tourist locations. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A 5% increase on a GAAP basis (6% increase on a constant currency basis) in the Tommy Hilfiger business compared to the prior year period, driven principally by strong growth across Europe, including a 9% increase in comparable store sales, and the TH China acquisition, which was completed in April 2016. In the Tommy Hilfiger North America business, wholesale growth was more than offset by an 8% decline in comparable store sales compared to the prior year period, driven by continued |

----

|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A 13% decrease in the Heritage Brands business compared to the prior year period, driven by the rationalization initiatives in the business, partially offset by an 11% increase in comparable store sales in the Van Heusen business. |

----

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----

----

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|         |                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $12 million expected to be incurred in 2016 in connection with the integration of Warnaco and the related restructuring, of which $7 million was incurred in the first quarter, $2 million was incurred in the second quarter and approximately $2 million is expected to be incurred in the third quarter. |

|         |                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $3 million incurred in the first quarter of 2016 related to the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business. |

|         |                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $4 million expected to be incurred in 2016 in connection with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada, of which $1 million was incurred in the first quarter, $1 million was incurred in the second quarter and approximately $1 million is expected to be incurred in the third quarter. |

|         |                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $6 million incurred in the first quarter of 2016 in connection with the restructuring associated with the new global creative strategy for Calvin Klein announced in April 2016. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax noncash gain of $153 million recorded in the first quarter of 2016 to write-up the Company’s equity investment in TH China to fair value in connection with the TH China acquisition, which was completed in the first quarter of 2016. Partially offsetting the pre-tax gain are pre-tax costs of approximately $83 million expected to be incurred in 2016, which primarily consist of noncash charges related to valuation adjustments and amortization of short-lived assets. Of these pre-tax costs, $30 million was incurred in the first quarter, $20 million was incurred in the second quarter and approximately $16 million is expected to be incurred in the third quarter. |

|         |                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $16 million incurred in the second quarter of 2016 in connection with the amendment of the Company’s credit facility. |

|         |                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax gain of approximately $15 million expected to be recorded in the third quarter of 2016 related to a payment expected to be made to the Company to exit one of its Tommy Hilfiger retail flagship locations in Europe. |

----

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | Discrete tax benefits of $6 million recorded in the first quarter of 2016 related to the resolution of uncertain tax positions. |

|         |                                                                                                                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $73 million incurred in 2015 in connection with the integration of Warnaco and the related restructuring, of which $19 million was incurred in the first quarter, $13 million was incurred in the second quarter, $19 million was incurred in the third quarter and $23 million was incurred in the fourth quarter. |

|         |                                                                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $17 million incurred in 2015 principally related to the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business, of which $3 million was incurred in the second quarter, $13 million was incurred in the third quarter and less than $1 million was incurred in the fourth quarter. |

|         |                                                                                                                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $10 million incurred in 2015 related to the operation of and exit from the Izod retail business, of which $1 million was incurred in the first quarter, $6 million was incurred in the second quarter, $3 million was incurred in the third quarter and $1 million was incurred in the fourth quarter. |

|         |                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $3 million incurred in the fourth quarter of 2015 in connection with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada. |

|         |                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A pre-tax gain of $2 million recorded in the second quarter of 2015 on the Company’s equity investment in the parent company of the Karl Lagerfeld brand. |

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | A pre-tax gain of $20 million recorded in the fourth quarter of 2015 related to recognized actuarial gains on retirement plans. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Discrete tax benefits of $35 million recorded in 2015 primarily related to the resolution of uncertain tax positions and the impact of recently enacted tax law and tax rate changes on deferred taxes, of which $2 million was recorded in the first quarter, $1 million was recorded in the second quarter, $19 million was recorded in the third quarter and $13 million was recorded in the fourth quarter. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Estimated tax effects associated with the above pre-tax items, which are based on the Company’s assessment of deductibility. In making this assessment, the Company evaluated each item that it had identified above as a non-GAAP exclusion to determine if such item is taxable or tax deductible, and if so, in what jurisdiction the tax expense or tax deduction would occur. All items above were identified as either primarily taxable or tax deductible, with the tax effect taken at the statutory income tax rate of the local jurisdiction, or as non-taxable or non-deductible, in which case the Company assumed no tax effect. |

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|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                   |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net sales                                                              |   | $ | 1,845.4 |  |   | $ | 1,765.9 |  |   |   |   | $ | 3,663.1 |  |   | $ | 3,551.0 |  |   |   |
| Royalty revenue                                                        |   | 69.9 |  |   | 75.4 |  |   |   |   | 147.0 |  |   | 149.6 |  |   |   |
| Advertising and other revenue                                          |   | 18.0 |  |   | 22.7 |  |   |   |   | 41.0 |  |   | 42.7 |  |   |   |
| Total revenue                                                          |   | $ | 1,933.3 |  |   | $ | 1,864.0 |  |   |   |   | $ | 3,851.1 |  |   | $ | 3,743.3 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit on net sales                                              |   | $ | 945.9 |  |   | $ | 904.0 |  |   |   |   | $ | 1,852.7 |  |   | $ | 1,795.4 |  |   |   |
| Gross profit on royalty, advertising and other revenue                 |   | 87.9 |  |   | 98.1 |  |   |   |   | 188.0 |  |   | 192.3 |  |   |   |
| Total gross profit                                                     |   | 1,033.8 |  |   | 1,002.1 |  |   |   |   | 2,040.7 |  |   | 1,987.7 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Selling, general and administrative expenses                           |   | 874.7 |  |   | 850.5 |  |   |   |   | 1,739.9 |  |   | 1,665.4 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs                             |   | 15.8 |  |   |  |   |   |   | 15.8 |  |   |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain to write-up equity investment in joint venture to fair value      |   |  |  |   |  |   |   |   | 153.1 |  |   |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in net (loss) income of unconsolidated affiliates               |   | (0.3 | ) |   | 2.5 |  |   |   |   | (0.5 | ) |   | 8.6 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes                                     |   | 143.0 |  |   | 154.1 |  |   |   |   | 437.6 |  |   | 330.9 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense, net                                                  |   | 28.1 |  |   | 28.0 |  |   |   |   | 57.1 |  |   | 57.8 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pre-tax income                                                         |   | 114.9 |  |   | 126.1 |  |   |   |   | 380.5 |  |   | 273.1 |  |   |   |
|                                                                   |   |  |  |   |   |   |   |   |   |   |   |   |   |
| Income tax expense                                                     |   | 24.4 |  |   | 23.9 |  |   |   |   | 58.4 |  |   | 56.8 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                             |   | 90.5 |  |   | 102.2 |   |   |   | 322.1 |  |   | 216.3 |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: Net loss attributable to redeemable non-controlling interest (1) |   | — |  |   |  |   |   |   | — |  |   |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                                   |   | $ | 90.5 |  |   | $ | 102.2 |  |   |   |   | $ | 322.1 |  |   | $ | 216.3 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp. (2)      |   | $ | 1.11 |  |   | $ | 1.22 |  |   |   |   | $ | 3.95 |  |   | $ | 2.59 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                   |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense                                  |   | $ | 82.6 |  |   | $ | 63.0 |  |   |   |   | $ | 153.2 |  |   | $ | 124.0 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                  |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | On June 29, 2016, the Company and Arvind Limited formed a joint venture in Ethiopia, PVH Arvind Manufacturing Private Limited Company, in which the Company owns a 75% interest. |

|           |                                                                                                                                                                                                   |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Please see Note A in the Notes to Consolidated GAAP Income Statements for reconciliations of GAAP diluted net income per common share to diluted net income per common share on a non-GAAP basis. |

----

|                                                                  |
|------------------------------------------------------------------|
|                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                             |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP Measures                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Total gross profit(1)                                            |   | $ | 1,038.2 |  |   | $ | 991.8 |  |   |   |   | $ | 2,046.2 |  |   | $ | 1,962.4 |  |   |   |
| Selling, general and administrative expenses(2)                  |   | 855.2 |  |   | 818.0 |  |   |   |   | 1,680.4 |  |   | 1,598.6 |  |   |   |
| Equity in net income of unconsolidated affiliates(3)             |   |  |  |   | 0.3 |  |   |   |   | 5.4 |  |   | 6.4 |  |   |   |
| Earnings before interest and taxes(4)                            |   | 182.7 |  |   | 174.1 |  |   |   |   | 371.2 |  |   | 370.2 |  |   |   |
| Income tax expense(5)                                            |   | 34.8 |  |   | 31.4 |  |   |   |   | 71.5 |  |   | 73.0 |  |   |   |
| Net income attributable to PVH Corp.(6)                          |   | 119.8 |  |   | 114.7 |  |   |   |   | 242.6 |  |   | 239.4 |  |   |   |
| Diluted net income per common share attributable to PVH Corp.(7) |   | $ | 1.47 |  |   | $ | 1.37 |  |   |   |   | $ | 2.97 |  |   | $ | 2.87 |  |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense(8)                         |   | $ | 67.1 |  |   | $ | 61.3 |  |   |   |   | $ | 132.3 |  |   | $ | 120.8 |  |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                      |
| (1)    Please see Table 3 for reconciliations of GAAP gross profit to gross profit on a non-GAAP basis.                                                                                                                                          |
| (2)    Please see Table 4 for reconciliations of GAAP selling, general and administrative expenses (“SG&A”) to SG&A on a non-GAAP basis.                                                                                     |
| (3)    Please see Table 5 for reconciliations of GAAP equity in net income (loss) of unconsolidated affiliates to equity in net income of unconsolidated affiliates on a non-GAAP basis.                                                         |
| (4)    Please see Table 2 for reconciliations of GAAP earnings before interest and taxes to earnings before interest and taxes on a non-GAAP basis.                                                                                              |
| (5)    Please see Table 6 for reconciliations of GAAP income tax expense to income tax expense on a non-GAAP basis and an explanation of the calculation of the tax effects associated with the pre-tax items identified as non-GAAP exclusions. |
| (6)    Please see Table 1 for reconciliations of GAAP net income to net income on a non-GAAP basis.                                                                                                                                              |
| (7)    Please see Note A in the Notes to Consolidated GAAP Income Statements for reconciliations of GAAP diluted net income per common share to diluted net income per common share on a non-GAAP basis.                                         |
| (8)    Please see Table 7 for reconciliations of GAAP depreciation and amortization expense to depreciation and amortization expense on a non-GAAP basis.                                                                                        |

----

|                                                                                                                                                                                                                            |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 1 - Reconciliations of GAAP net income to net income on a non-GAAP basis                                                                                                                                             |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                                                                                                       |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                                                                                                                                                                                       |   | $ | 90.5 |  |   | $ | 102.2 |  |   |   |   | $ | 322.1 |  |   | $ | 216.3 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp.(1)                                                                                                                                                           |   | $ | 1.11 |  |   | $ | 1.22 |  |   |   |   | $ | 3.95 |  |   | $ | 2.59 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit charges associated with the TH China acquisition (short-lived noncash inventory valuation adjustments)                                                                                                        |   | 4.4 |  |   |  |   |   |   | 5.5 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit associated with the operation of and exit from the Izod retail business                                                                                                                                       |   |  |   | (10.3 | ) |   |   |   |  |  |   | (25.3 | ) |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the integration of Warnaco and related restructuring                                                                                                                                     |   | 2.3 |  |   | 13.1 |  |   |   |   | 9.8 |  |   | 31.9 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the operation of and exit from the Izod retail business                                                                                                                                  |   |  |   | 16.1 |  |   |   |   |  |  |   | 31.6 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business                                                                                  |   |  |   | 3.3 |  |   |   |   | 2.6 |  |   | 3.3 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada                                                                                        |   | 1.3 |  |   |  |   |   |   | 2.6 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the new global creative strategy for Calvin Klein and related restructuring                                                                                                         |   |  |   |  |   |   |   | 5.5 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the TH China acquisition (a portion of which is amortization of short-lived assets)                                                                                                      |   | 15.9 |  |   |  |   |   |   | 39.0 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain to write-up the Company’s equity investment in TH China to fair value                                                                                                                                           |   |  |   |  |   |   |   | (153.1 | ) |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| One-time expenses recorded on the Company’s equity investment in TH China (recorded in equity in net (loss) income of unconsolidated affiliates)                                                                     |   |  |   |  |   |   |   | 5.9 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain recorded on the equity investment in Karl Lagerfeld (recorded in equity in net (loss) income of unconsolidated affiliates)                                                                                            |   |  |   | (2.2 | ) |   |   |   |  |  |   | (2.2 | ) |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs                                                                                                                                                                                 |   | 15.8 |  |   |  |   |   |   | 15.8 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Tax effects of the above items(2)                                                                                                                                                                                          |   | (10.4 | ) |   | (6.8 | ) |   |   |   | (7.3 | ) |   | (13.2 | ) |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Discrete tax benefits related to the resolution of uncertain tax positions                                                                                                                                                 |   |  |   | (0.7 | ) |   |   |   | (5.8 | ) |   | (3.0 | ) |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income on a non-GAAP basis attributable to PVH Corp.                                                                                                                                                                   |   | $ | 119.8 |  |   | $ | 114.7 |  |   |   |   | $ | 242.6 |  |   | $ | 239.4 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share on a non-GAAP basis attributable to PVH Corp.(1)                                                                                                                                       |   | $ | 1.47 |  |   | $ | 1.37 |  |   |   |   | $ | 2.97 |  |   | $ | 2.87 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| (1)   Please see Note A in the Notes to the Consolidated GAAP Income Statements for reconciliations of GAAP diluted net income per common share to diluted net income per common share on a non-GAAP basis. |
| (2)   Please see Table 6 for an explanation of the calculation of the tax effects of the above items.                                                                                                       |

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|                                                                                                                                                        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 2 - Reconciliations of GAAP earnings before interest and taxes to earnings before interest and taxes on a non-GAAP basis                         |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                                   |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes                                                                                                                     |   | $ | 143.0 |  |   | $ | 154.1 |  |   |   |   | $ | 437.6 |  |   | $ | 330.9 |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit charges associated with the TH China acquisition (short-lived noncash inventory valuation adjustments)                                    |   | 4.4 |  |   |  |   |   |   | 5.5 |  |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit associated with the operation of and exit from the Izod retail business                                                                   |   |  |   | (10.3 | ) |   |   |   |  |  |   | (25.3 | ) |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the integration of Warnaco and related restructuring                                                                 |   | 2.3 |  |   | 13.1 |  |   |   |   | 9.8 |  |   | 31.9 |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the operation of and exit from the Izod retail business                                                              |   |  |   | 16.1 |  |   |   |   |  |   | 31.6 |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business              |   |  |   | 3.3 |  |   |   |   | 2.6 |  |   | 3.3 |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada                    |   | 1.3 |  |   |  |   |   |   | 2.6 |  |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the new global creative strategy for Calvin Klein and related restructuring                                     |   |  |   |  |   |   |   | 5.5 |  |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the TH China acquisition (a portion of which is amortization of short-lived assets)                                  |   | 15.9 |  |   |  |   |   |   | 39.0 |  |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain to write-up the Company’s equity investment in TH China to fair value                                                                       |   |  |   |  |   |   |   | (153.1 | ) |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-time expenses recorded on the Company’s equity investment in TH China (recorded in equity in net (loss) income of unconsolidated affiliates) |   |  |   |  |   |   |   | 5.9 |  |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain recorded on the equity investment in Karl Lagerfeld  (recorded in equity in net (loss) income of unconsolidated affiliates)                       |   |  |   | (2.2 | ) |   |   |   |  |  |   | (2.2 | ) |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs                                                                                                             |   | 15.8 |  |   |  |   |   |   | 15.8 |  |   |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes on a non-GAAP basis                                                                                                 |   | $ | 182.7 |  |   | $ | 174.1 |  |   |   |   | $ | 371.2 |  |   | $ | 370.2 |  |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                     |
|---------------------------------------------------------------------------------------------------------------------|
|                                                                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 3 - Reconciliations of GAAP gross profit to gross profit on a non-GAAP basis                                  |   |   |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                | Quarter Ended |   |   | Six Months Ended |   |   |
|                                                                                                                |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                                                                                                        |   | $ | 1,033.8 |  |   | $ | 1,002.1 |  |   |   |   | $ | 2,040.7 |  |   | $ | 1,987.7 |  |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit charges associated with the TH China acquisition (short-lived noncash inventory valuation adjustments) |   | 4.4 |  |   |  |   |   |   | 5.5 |  |   |  |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit associated with the operation of and exit from the Izod retail business                                |   |  |   | (10.3 | ) |   |   |   |  |   | (25.3 | ) |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit on a non-GAAP basis                                                                                    |   | $ | 1,038.2 |  |   | $ | 991.8 |  |   |   |   | $ | 2,046.2 |  |   | $ | 1,962.4 |  |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                                                                           |
|-------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 4 - Reconciliations of GAAP SG&A to SG&A on a non-GAAP basis                                                                |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                      |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                      |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A                                                                                                                                  |   | $ | 874.7 |  |   | $ | 850.5 |  |   |   |   | $ | 1,739.9 |  |   | $ | 1,665.4 |  |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the integration of Warnaco and related restructuring                                                    |   | (2.3 | ) |   | (13.1 | ) |   |   |   | (9.8 | ) |   | (31.9 | ) |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the operation of and exit from the Izod retail business                                                 |   |  |  |   | (16.1 | ) |   |   |   |   |   | (31.6 | ) |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business |   |  |  |   | (3.3 | ) |   |   |   | (2.6 | ) |   | (3.3 | ) |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada       |   | (1.3 | ) |   |  |  |   |   |   | (2.6 | ) |   |  |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the new global creative strategy for Calvin Klein and related restructuring                        |   |  |  |   |  |  |   |   |   | (5.5 | ) |   |  |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the TH China acquisition (a portion of which is amortization of short-lived assets)                     |   | (15.9 | ) |   |  |  |   |   |   | (39.0 | ) |   |  |  |   |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A on a non-GAAP basis                                                                                                              |   | $ | 855.2 |  |   | $ | 818.0 |  |   |   |   | $ | 1,680.4 |  |   | $ | 1,598.6 |  |   |   |
|                                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                     |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 5 - Reconciliations of GAAP equity in net income (loss) of unconsolidated affiliates to equity in net income of unconsolidated affiliates on a non-GAAP basis |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                |   | Quarter Ended |   |   | Six Months Ended |   |   |
|                                                                                                                                                                |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |
| Equity in net income (loss) of unconsolidated affiliates                                                                                                            |   | $ | 2.5 |   |   |   |   | $ | (0.5 | ) |   | $ | 8.6 |  |   |   |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |
| One-time expenses recorded on the Company’s equity investment in TH China                                                                                     |   |  |   |   |   | 5.9 |  |   |  |   |   |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |
| Gain recorded on the equity investment in Karl Lagerfeld                                                                                                            |   | (2.2 | ) |   |   |   |  |   | (2.2 | ) |   |   |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |
| Equity in net income of unconsolidated affiliates on a non-GAAP basis                                                                                               |   | $ | 0.3 |   |   |   |   | $ | 5.4 |  |   | $ | 6.4 |  |   |   |
|                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 6 - Reconciliations of GAAP income tax expense to income tax expense on a non-GAAP basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $ | 24.4 |  |   | $ | 23.9 |  |   |   |   | $ | 58.4 |  |   | $ | 56.8 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Tax effects of pre-tax items identified as non-GAAP exclusions (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 10.4 |  |   | 6.8 |  |   |   |   | 7.3 |  |   | 13.2 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Discrete tax benefits related to the resolution of uncertain tax positions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |  |   | 0.7 |  |   |   |   | 5.8 |  |   | 3.0 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax expense on a non-GAAP basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $ | 34.8 |  |   | $ | 31.4 |  |   |   |   | $ | 71.5 |  |   | $ | 73.0 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| (1)  The estimated tax effects associated with the Company’s non-GAAP exclusions are based on the Company’s assessment of deductibility. In making this assessment, the Company evaluated each item that it had identified above as a non-GAAP exclusion to determine if such item is taxable or tax deductible, and if so, in what jurisdiction the tax expense or tax deduction would occur. All of the pre-tax items identified as non-GAAP exclusions were identified as either primarily taxable or tax deductible, with the tax effect taken at the statutory income tax rate of the local jurisdiction, or as non-taxable or non-deductible, in which case the Company assumed no tax effect. |

----

|                                                                                                                                          |
|------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 7 - Reconciliations of GAAP depreciation and amortization expense to depreciation and amortization expense on a non-GAAP basis     |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                     |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                     |   | 7/31/16 |   | 8/2/15 |   |   |   | 7/31/16 |   | 8/2/15 |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense                                                                                                    |   | $ | 82.6 |  |   | $ | 63.0 |  |   |   |   | $ | 153.2 |  |   | $ | 124.0 |  |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Amortization of short-lived assets associated with the TH China acquisition                                                              |   | (14.2 | ) |   |  |  |   |   |   | (17.9 | ) |   |  |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization associated with licensing to G-III the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada |   | (1.3 | ) |   |  |  |   |   |   | (2.6 | ) |   |  |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization associated with the integration of Warnaco and related restructuring                                       |   |  |   | (1.7 | ) |   |   |   | (0.4 | ) |   | (3.2 | ) |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense on a non-GAAP basis                                                                                |   | $ | 67.1 |  |   | $ | 61.3 |  |   |   |   | $ | 132.3 |  |   | $ | 120.8 |  |   |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          |   | Quarter Ended |   |   |   | Quarter Ended |
|                                                          |   | 7/31/16 |   |   |   | 8/2/15 |
|                                                          |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                          |   | Results |   | Adjustments | (1)  | Results |   |   |   | Results |   | Adjustments | (2)  | Results |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                          |   | $ | 90.5 |  |   | $ | (29.3 | ) |   | $ | 119.8 |  |   |   |   | $ | 102.2 |  |   | $ | (12.5 | ) |   | $ | 114.7 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                |   | 80.7 |  |   |  |   | 80.7 |  |   |   |   | 82.7 |  |   |  |   | 82.7 |  |   |
| Weighted average dilutive securities                          |   | 0.6 |  |   |  |  |   | 0.6 |  |   |   |   | 0.8 |  |   |  |   | 0.8 |  |   |
| Total shares                                                  |   | 81.3 |  |   |   |   | 81.3 |  |   |   |   | 83.5 |  |   |   |   | 83.5 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp. |   | $ | 1.11 |  |   |   |   | $ | 1.47 |  |   |   |   | $ | 1.22 |  |   |   |   | $ | 1.37 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                                          |   | 7/31/16 |   |   |   | 8/2/15 |   |
|                                                          |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                          |   | Results |   | Adjustments | (1)  | Results |   |   |   | Results |   | Adjustments | (2)  | Results |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                          |   | $ | 322.1 |  |   | $ | 79.5 |  |   | $ | 242.6 |  |   |   |   | $ | 216.3 |  |   | $ | (23.1 | ) |   | $ | 239.4 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                |   | 81.0 |  |   |  |   | 81.0 |  |   |   |   | 82.6 |  |   |  |  |   | 82.6 |  |   |
| Weighted average dilutive securities                          |   | 0.6 |  |   |  |  |   | 0.6 |  |   |   |   | 0.8 |  |   |  |   | 0.8 |  |   |
| Total shares                                                  |   | 81.6 |  |   |   |   | 81.6 |  |   |   |   | 83.4 |  |   |   |   | 83.4 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp. |   | $ | 3.95 |  |   |   |   | $ | 2.97 |  |   |   |   | $ | 2.59 |  |   |   |   | $ | 2.87 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Represents the impact on net income in the periods ended July 31, 2016 from the elimination of (i) the costs incurred in connection with the integration of Warnaco and the related restructuring; (ii) the costs incurred in connection with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business; (iii) the costs incurred in connection with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada; (iv) the costs incurred in connection with the restructuring associated with the new global creative strategy for Calvin Klein; (v) the noncash gain recorded to write-up the Company’s equity investment in TH China to fair value in connection with the TH China acquisition; (vi) the one-time costs recorded on the Company’s equity investment in TH China prior to the TH China acquisition closing; (vii) the costs incurred in connection with the TH China acquisition, a portion of which were noncash charges related to valuation adjustments and amortization of short-lived assets; (viii) the costs incurred in connection with the amendment of the Company’s credit facility; (ix) the tax effects associated with the foregoing items; and (x) the tax benefits associated with discrete items related to the resolution of uncertain tax positions. Please see Table 1 for a reconciliation of GAAP net income to net income on a non-GAAP basis. |

----

|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |
|                                                                            | 7/31/16 |   | 8/2/15 |
| ASSETS                                                                          |   |   |   |
| Current Assets:                                                                 |   |   |   |
| Cash and Cash Equivalents                                                       | $ | 741.7 |  |   | $ | 466.7 |  |
| Receivables                                                                     | 594.3 |  |   | 617.8 |  |
| Inventories                                                                     | 1,412.1 |  |   | 1,402.6 |  |
| Other Current Assets                                                            | 190.9 |  |   | 228.6 |  |
| Total Current Assets                                                            | 2,939.0 |  |   | 2,715.7 |  |
| Property, Plant and Equipment                                                   | 736.0 |  |   | 708.9 |  |
| Goodwill and Other Intangible Assets                                            | 7,288.1 |  |   | 6,920.8 |  |
| Other Assets                                                                    | 216.7 |  |   | 286.7 |  |
|                                                                            | $ | 11,179.8 |  |   | $ | 10,632.1 |  |
|                                                                            |   |   |   |
| LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY |
| Accounts Payable and Accrued Expenses                                           | $ | 1,368.8 |  |   | $ | 1,249.2 |  |
| Short-Term Borrowings                                                           | 19.4 |  |   | 8.1 |  |
| Current Portion of Long-Term Debt                                               | — |  |   | 111.7 |  |
| Other Liabilities                                                               | 1,629.8 |  |   | 1,616.5 |  |
| Long-Term Debt                                                                  | 3,358.2 |  |   | 3,236.8 |  |
| Redeemable Non-Controlling Interest                                             | 0.1 |  |   | — |  |
| Stockholders’ Equity                                                      | 4,803.5 |  |   | 4,409.8 |  |
|                                                                            | $ | 11,179.8 |  |   | $ | 10,632.1 |  |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                     |   |   |   |   |   |   |   |
| Segment Data                  |   |   |   |   |   |   |   |
| (In millions)                 |   |   |   |   |   |   |   |
|                          |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT            |   |   |   |   |   |   |   |
|                          |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                          |   | 7/31/16 |   |   |   | 8/2/15 |   |
|                          |   |   |   |   |   |   |   |
| Calvin Klein North America    |   |   |   |   |   |   |   |
| Net sales                     |   | $ | 361.3 |  |   |   |   | $ | 317.6 |  |   |
| Royalty revenue               |   | 28.0 |  |   |   |   | 29.5 |  |   |
| Advertising and other revenue |   | 8.7 |  |   |   |   | 11.1 |  |   |
| Total                         |   | 398.0 |  |   |   |   | 358.2 |  |   |
|                          |   |   |   |   |   |   |   |
| Calvin Klein International    |   |   |   |   |   |   |   |
| Net sales                     |   | 306.2 |  |   |   |   | 264.8 |  |   |
| Royalty revenue               |   | 16.8 |  |   |   |   | 18.3 |  |   |
| Advertising and other revenue |   | 5.4 |  |   |   |   | 7.3 |  |   |
| Total                         |   | 328.4 |  |   |   |   | 290.4 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Calvin Klein            |   |   |   |   |   |   |   |
| Net sales                     |   | 667.5 |  |   |   |   | 582.4 |  |   |
| Royalty revenue               |   | 44.8 |  |   |   |   | 47.8 |  |   |
| Advertising and other revenue |   | 14.1 |  |   |   |   | 18.4 |  |   |
| Total                         |   | 726.4 |  |   |   |   | 648.6 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger North America  |   |   |   |   |   |   |   |
| Net sales                     |   | 396.0 |  |   |   |   | 384.8 |  |   |
| Royalty revenue               |   | 9.2 |  |   |   |   | 9.9 |  |   |
| Advertising and other revenue |   | 2.2 |  |   |   |   | 2.6 |  |   |
| Total                         |   | 407.4 |  |   |   |   | 397.3 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger International  |   |   |   |   |   |   |   |
| Net sales                     |   | 442.1 |  |   |   |   | 400.2 |  |   |
| Royalty revenue               |   | 10.1 |  |   |   |   | 12.3 |  |   |
| Advertising and other revenue |   | 0.6 |  |   |   |   | 0.9 |  |   |
| Total                         |   | 452.8 |  |   |   |   | 413.4 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Tommy Hilfiger          |   |   |   |   |   |   |   |
| Net sales                     |   | 838.1 |  |   |   |   | 785.0 |  |   |
| Royalty revenue               |   | 19.3 |  |   |   |   | 22.2 |  |   |
| Advertising and other revenue |   | 2.8 |  |   |   |   | 3.5 |  |   |
| Total                         |   | 860.2 |  |   |   |   | 810.7 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Wholesale     |   |   |   |   |   |   |   |
| Net sales                     |   | 270.7 |  |   |   |   | 308.0 |  |   |
| Royalty revenue               |   | 5.2 |  |   |   |   | 4.8 |  |   |
| Advertising and other revenue |   | 1.1 |  |   |   |   | 0.8 |  |   |
| Total                         |   | 277.0 |  |   |   |   | 313.6 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Retail        |   |   |   |   |   |   |   |
| Net sales                     |   | 69.1 |  |   |   |   | 90.5 |  |   |
| Royalty revenue               |   | 0.6 |  |   |   |   | 0.6 |  |   |
| Advertising and other revenue |   | 0.0 |  |   |   |   | 0.0 |  |   |
| Total                         |   | 69.7 |  |   |   |   | 91.1 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Heritage Brands         |   |   |   |   |   |   |   |
| Net sales                     |   | 339.8 |  |   |   |   | 398.5 |  |   |
| Royalty revenue               |   | 5.8 |  |   |   |   | 5.4 |  |   |
| Advertising and other revenue |   | 1.1 |  |   |   |   | 0.8 |  |   |
| Total                         |   | 346.7 |  |   |   |   | 404.7 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Revenue                 |   |   |   |   |   |   |   |
| Net sales                     |   | 1,845.4 |  |   |   |   | 1,765.9 |  |   |
| Royalty revenue               |   | 69.9 |  |   |   |   | 75.4 |  |   |
| Advertising and other revenue |   | 18.0 |  |   |   |   | 22.7 |  |   |
| Total                         |   | $ | 1,933.3 |  |   |   |   | $ | 1,864.0 |  |   |
|                          |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In millions)                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |   |   |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                                          |   | 7/31/16 |   |   |   | 8/2/15 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   | GAAP |   | Adjustments(2) |   | Results |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein North America                    |   | $ | 55.2 |  |   |  |   | $ | 55.2 |  |   |   |   | $ | 46.1 |  |   | $ | (0.8 | ) |   | $ | 46.9 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein International                    |   | 50.5 |  |   |  |  |   | 50.5 |  |   |   |   | 34.7 |  |   | 0.2 |  |   | 34.5 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 105.7 |  |   |  |  |   | 105.7 |  |   |   |   | 80.8 |  |   | (0.6 | ) |   | 81.4 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 46.1 |  |   | $ | (1.3 | ) |   | 47.4 |  |   |   |   | 58.8 |  |   |  |  |   | 58.8 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 29.5 |  |   | (20.3 | ) |   | 49.8 |  |   |   |   | 38.9 |  |   |  |  |   | 38.9 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 75.6 |  |   | (21.6 | ) |   | 97.2 |  |   |   |   | 97.7 |  |   |  |  |   | 97.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Wholesale                     |   | 8.3 |  |   |  |  |   | 8.3 |  |   |   |   | 17.3 |  |   | (5.4 | ) |   | 22.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Retail                        |   | 3.7 |  |   |  |  |   | 3.7 |  |   |   |   | (2.7 | ) |   | (5.8 | ) |   | 3.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 12.0 |  |   |  |  |   | 12.0 |  |   |   |   | 14.6 |  |   | (11.2 | ) |   | 25.8 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (50.3 | ) |   | (18.1 | ) |   | (32.2 | ) |   |   |   | (39.0 | ) |   | (8.2 | ) |   | (30.8 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 143.0 |  |   | $ | (39.7 | ) |   | $ | 182.7 |  |   |   |   | $ | 154.1 |  |   | $ | (20.0 | ) |   | $ | 174.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for the quarter ended July 31, 2016 represent the elimination of (i) the costs incurred in connection with the integration of Warnaco and the related restructuring; (ii) the costs incurred in connection with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada; (iii) the costs incurred in connection with the TH China acquisition, principally consisting of noncash charges related to valuation adjustments and amortization of short-lived assets; and (iv) the costs incurred in connection with the amendment of the Company’s credit facility. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Adjustments for the quarter ended August 2, 2015 represent the elimination of (i) the costs incurred in connection with the integration of Warnaco and the related restructuring; (ii) the costs incurred in connection with the operation of and exit from the Izod retail business, (iii) the costs incurred in connection with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business; and (iv) the gain recorded on the equity investment in Karl Lagerfeld. |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                     |   |   |   |   |   |   |   |
| Segment Data (continued)      |   |   |   |   |   |   |   |
| (In millions)                 |   |   |   |   |   |   |   |
|                          |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT            |   |   |   |   |   |   |   |
|                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                          |   | 7/31/16 |   |   |   | 8/2/15 |   |
| Calvin Klein North America    |   |   |   |   |   |   |   |
| Net sales                     |   | $ | 700.1 |  |   |   |   | $ | 616.9 |  |   |
| Royalty revenue               |   | 58.3 |  |   |   |   | 59.2 |  |   |
| Advertising and other revenue |   | 20.2 |  |   |   |   | 20.9 |  |   |
| Total                         |   | 778.6 |  |   |   |   | 697.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Calvin Klein International    |   |   |   |   |   |   |   |
| Net sales                     |   | 622.5 |  |   |   |   | 556.4 |  |   |
| Royalty revenue               |   | 35.4 |  |   |   |   | 36.0 |  |   |
| Advertising and other revenue |   | 12.6 |  |   |   |   | 13.1 |  |   |
| Total                         |   | 670.5 |  |   |   |   | 605.5 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Calvin Klein            |   |   |   |   |   |   |   |
| Net sales                     |   | 1,322.6 |  |   |   |   | 1,173.3 |  |   |
| Royalty revenue               |   | 93.7 |  |   |   |   | 95.2 |  |   |
| Advertising and other revenue |   | 32.8 |  |   |   |   | 34.0 |  |   |
| Total                         |   | 1,449.1 |  |   |   |   | 1,302.5 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger North America  |   |   |   |   |   |   |   |
| Net sales                     |   | 717.1 |  |   |   |   | 726.3 |  |   |
| Royalty revenue               |   | 20.2 |  |   |   |   | 19.5 |  |   |
| Advertising and other revenue |   | 4.7 |  |   |   |   | 5.4 |  |   |
| Total                         |   | 742.0 |  |   |   |   | 751.2 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger International  |   |   |   |   |   |   |   |
| Net sales                     |   | 886.7 |  |   |   |   | 800.4 |  |   |
| Royalty revenue               |   | 21.7 |  |   |   |   | 24.4 |  |   |
| Advertising and other revenue |   | 1.6 |  |   |   |   | 1.8 |  |   |
| Total                         |   | 910.0 |  |   |   |   | 826.6 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Tommy Hilfiger          |   |   |   |   |   |   |   |
| Net sales                     |   | 1,603.8 |  |   |   |   | 1,526.7 |  |   |
| Royalty revenue               |   | 41.9 |  |   |   |   | 43.9 |  |   |
| Advertising and other revenue |   | 6.3 |  |   |   |   | 7.2 |  |   |
| Total                         |   | 1,652.0 |  |   |   |   | 1,577.8 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Wholesale     |   |   |   |   |   |   |   |
| Net sales                     |   | 609.9 |  |   |   |   | 675.5 |  |   |
| Royalty revenue               |   | 10.2 |  |   |   |   | 9.4 |  |   |
| Advertising and other revenue |   | 1.8 |  |   |   |   | 1.4 |  |   |
| Total                         |   | 621.9 |  |   |   |   | 686.3 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Retail        |   |   |   |   |   |   |   |
| Net sales                     |   | 126.8 |  |   |   |   | 175.5 |  |   |
| Royalty revenue               |   | 1.2 |  |   |   |   | 1.1 |  |   |
| Advertising and other revenue |   | 0.1 |  |   |   |   | 0.1 |  |   |
| Total                         |   | 128.1 |  |   |   |   | 176.7 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Heritage Brands         |   |   |   |   |   |   |   |
| Net sales                     |   | 736.7 |  |   |   |   | 851.0 |  |   |
| Royalty revenue               |   | 11.4 |  |   |   |   | 10.5 |  |   |
| Advertising and other revenue |   | 1.9 |  |   |   |   | 1.5 |  |   |
| Total                         |   | 750.0 |  |   |   |   | 863.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Revenue                 |   |   |   |   |   |   |   |
| Net sales                     |   | 3,663.1 |  |   |   |   | 3,551.0 |  |   |
| Royalty revenue               |   | 147.0 |  |   |   |   | 149.6 |  |   |
| Advertising and other revenue |   | 41.0 |  |   |   |   | 42.7 |  |   |
| Total                         |   | $ | 3,851.1 |  |   |   |   | $ | 3,743.3 |  |   |
|                          |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In millions)                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |   |   |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                          |   | 7/31/16 |   |   |   | 8/2/15 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   | GAAP |   | Adjustments(2) |   | Results |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein North America                    |   | $ | 93.3 |  |   | $ | (2.9 | ) |   | $ | 96.2 |  |   |   |   | $ | 86.5 |  |   | $ | (2.9 | ) |   | $ | 89.4 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein International                    |   | 102.7 |  |   | (5.4 | ) |   | 108.1 |  |   |   |   | 84.0 |  |   | (3.7 | ) |   | 87.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 196.0 |  |   | (8.3 | ) |   | 204.3 |  |   |   |   | 170.5 |  |   | (6.6 | ) |   | 177.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 69.1 |  |   | (2.6 | ) |   | 71.7 |  |   |   |   | 89.1 |  |   |  |  |   | 89.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 212.8 |  |   | 102.7 |  |   | 110.1 |  |   |   |   | 100.7 |  |   |  |  |   | 100.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 281.9 |  |   | 100.1 |  |   | 181.8 |  |   |   |   | 189.8 |  |   |  |  |   | 189.8 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Wholesale                     |   | 36.2 |  |   | (3.0 | ) |   | 39.2 |  |   |   |   | 47.6 |  |   | (9.0 | ) |   | 56.6 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Retail                        |   | 5.8 |  |   |  |  |   | 5.8 |  |   |   |   | (2.8 | ) |   | (6.3 | ) |   | 3.5 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 42.0 |  |   | (3.0 | ) |   | 45.0 |  |   |   |   | 44.8 |  |   | (15.3 | ) |   | 60.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (82.3 | ) |   | (22.4 | ) |   | (59.9 | ) |   |   |   | (74.2 | ) |   | (17.4 | ) |   | (56.8 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 437.6 |  |   | $ | 66.4 |  |   | $ | 371.2 |  |   |   |   | $ | 330.9 |  |   | $ | (39.3 | ) |   | $ | 370.2 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for the six months ended July 31, 2016 represent the elimination of (i) the costs incurred in connection with the integration of Warnaco and the related restructuring; (ii) the costs incurred in connection with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business; (iii) the costs incurred in connection with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada; (iv) the costs incurred in connection with the restructuring associated with the new global creative strategy for Calvin Klein; (v) the noncash gain recorded to write-up the Company’s equity investment in TH China to fair value in connection with the TH China acquisition; (vi) the one-time costs recorded on the Company’s equity investment in TH China prior to the TH China acquisition closing; (vii) the costs incurred in connection with the TH China acquisition, a portion of which were noncash charges related to valuation adjustments and amortization of short-lived assets; and (viii) the costs incurred in connection with the amendment of the Company’s credit facility. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Adjustments for six months ended August 2, 2015 represent the elimination of (i) the costs incurred in connection with the integration of Warnaco and the related restructuring; (ii) the costs incurred in connection with the operation of and exit from the Izod retail business, (iii) the costs incurred in connection with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business; and (iv) the gain recorded on the equity investment in Karl Lagerfeld. |

----

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                         |   | GAAP Revenue |   | % Change |
|                         |   | Quarter Ended |   | GAAP |   | Impact of Foreign Exchange |   | Constant Currency |
|                         |   | 7/31/16 |   | 8/2/15 |   |   |   |
|                         |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein North America   |   | $ | 398.0 |  |   | $ | 358.2 |  |   | 11.1 | % |   | (1.3 | )% |   | 12.4 | % |
| Calvin Klein International   |   | 328.4 |  |   | 290.4 |  |   | 13.1 | % |   | (4.0 | )% |   | 17.1 | % |
| Total Calvin Klein           |   | 726.4 |  |   | 648.6 |  |   | 12.0 | % |   | (2.5 | )% |   | 14.5 | % |
|                         |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America |   | $ | 407.4 |  |   | $ | 397.3 |  |   | 2.5 | % |   | (0.7 | )% |   | 3.2 | % |
| Tommy Hilfiger International |   | 452.8 |  |   | 413.4 |  |   | 9.5 | % |   | (1.7 | )% |   | 11.2 | % |
| Total Tommy Hilfiger         |   | 860.2 |  |   | 810.7 |  |   | 6.1 | % |   | (1.2 | )% |   | 7.3 | % |
|                         |   |   |   |   |   |   |   |   |   |   |
| Total Revenue                |   | $ | 1,933.3 |  |   | $ | 1,864.0 |  |   | 3.7 | % |   | (1.5 | )% |   | 5.2 | % |

|                      |
|----------------------|
|                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                 |   | GAAP Revenue |   | % Change |
|                 |   | Six Months Ended |   | GAAP |   | Impact of Foreign Exchange |   | Constant Currency |
|                 |   | 7/31/16 |   | 8/2/15 |   |   |   |
|                 |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein   |   | $ | 1,449.1 |  |   | 1,302.5 |  |   | 11.3 | % |   | (2.7 | )% |   | 14.0 | % |
|                 |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger |   | $ | 1,652.0 |  |   | $ | 1,577.8 |  |   | 4.7 | % |   | (0.9 | )% |   | 5.6 | % |
|                 |   |   |   |   |   |   |   |   |   |   |
| Total Revenue        |   | $ | 3,851.1 |  |   | $ | 3,743.3 |  |   | 2.9 | % |   | (1.4 | )% |   | 4.3 | % |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Total Calvin Klein Earnings Before Interest and Taxes |   |
|                  |   | GAAP |   | Adjustments (1) |   | Non-GAAP |   | Impact of Foreign Exchange |   | Constant Currency |   |
|                  |   |   |   |   |   |   |
| Quarter Ended 7/31/16 |   | $ | 105.7 |  |   | $ | — |  |   | $ | 105.7 |  |   | $ | (15.4 | ) |   | $ | 121.1 |  |   |
| Quarter Ended 8/2/15  |   | 80.8 |  |   | (0.6 | ) |   | 81.4 |  |   | — |  |   | 81.4 |  |   |
| % Change              |   |   |   |   |   | 29.9 | % |   |   |   | 48.8 | % |   |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Total Tommy Hilfiger Earnings Before Interest and Taxes |   |
|                  |   | GAAP |   | Adjustments (1) |   | Non-GAAP |   | Impact of Foreign Exchange |   | Constant Currency |   |
|                  |   |   |   |   |   |   |
| Quarter Ended 7/31/16 |   | $ | 75.6 |  |   | $ | (21.6 | ) |   | $ | 97.2 |  |   | $ | (23.7 | ) |   | $ | 120.9 |  |   |
| Quarter Ended 8/2/15  |   | 97.7 |  |   | — |  |   | 97.7 |  |   | — |  |   | 97.7 |  |   |
| % Change              |   |   |   |   |   | (0.5 | )% |   |   |   | 23.7 | % |   |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  |   | Total Earnings Before Interest and Taxes |   |
|                  |   | GAAP |   | Adjustments (1) |   | Non-GAAP |   | Impact of Foreign Exchange |   | Constant Currency |   |
|                  |   |   |   |   |   |   |
| Quarter Ended 7/31/16 |   | $ | 143.0 |  |   | $ | (39.7 | ) |   | $ | 182.7 |  |   | $ | (40.2 | ) |   | $ | 222.9 |  |   |
| Quarter Ended 8/2/15  |   | 154.1 |  |   | (20.0 | ) |   | 174.1 |  |   | — |  |   | 174.1 |  |   |
| % Change              |   |  |  |   |  |  |   | 4.9 | % |   |   |   | 28.0 | % |   |

|                          |
|--------------------------|
|                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                     |   | Total Earnings Before Interest and Taxes |   |
|                     |   | GAAP |   | Adjustments (1) |   | Non-GAAP |   | Impact of Foreign Exchange |   | Constant Currency |   |
|                     |   |   |   |   |   |   |
| Six Months Ended 7/31/16 |   | $ | 437.6 |  |   | $ | 66.4 |  |   | $ | 371.2 |  |   | $ | (83.5 | ) |   | $ | 454.7 |  |   |
| Six Months Ended 8/2/15  |   | 330.9 |  |   | (39.3 | ) |   | 370.2 |  |   | — |  |   | 370.2 |  |   |
| % Change                 |   |   |   |   |   | 0.3 | % |   |   |   | 22.8 | % |   |

|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)   | Represents the impact from the elimination of i) the costs incurred in the first and second quarters of 2016 and 2015 in connection with the integration of Warnaco and the related restructuring; (ii) the costs incurred in the first quarter of 2016 and the second quarter of 2015 in connection with the discontinuation of several licensed product lines in the Heritage Brands dress furnishings business; (iii) the costs incurred in the first and second quarters of 2016 in connection with the licensing to G-III of the Tommy Hilfiger womenswear wholesale business in the U.S. and Canada; (iv) the costs incurred in the first quarter of 2016 in connection with the restructuring associated with the new global creative strategy for Calvin Klein; (v) the noncash gain recorded in the first quarter of 2016 to write-up the Company’s equity investment in TH China to fair value in connection with the TH China acquisition; (vi) the one-time costs recorded in the first quarter of 2016 on the Company’s equity investment in TH China prior to the TH China acquisition closing; (vii) the costs incurred in the first and second quarters of 2016 in connection with the TH China acquisition, a portion of which were noncash charges related to valuation adjustments and amortization of short-lived assets; (viii) the costs incurred in the second quarter of 2016 in connection with the amendment of the Company’s credit facility; (ix) the costs incurred in the first and second quarters of 2015 in connection with the operation of and exit from the Izod retail business; and (x) the gain recorded in the second quarter of 2015 on the equity investment in Karl Lagerfeld. Please see Table 2 in the section entitled “Reconciliations of GAAP to Non-GAAP Amounts” for more detail. |

----

|                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------|
|                                                                                                                   |  |  |  |  |  |  |
| Net Income Per Common Share Reconciliations                                                                       |  | Current Guidance |   | Previous Guidance |
|                                                                                                                   | Full Year2016(Estimated) | Third Quarter2016(Estimated) |   | Full Year2016(Estimated) | Second Quarter2016(Estimated) |
|                                                                                                                   |  |  |  |   |   |   |
| GAAP net income per common share attributable to PVH Corp.                                                        |  | $7.50 - $7.60 | $2.30 - $2.35 |   | $6.72 - $6.82 | $0.88 - $0.93 |
| Estimated per common share impact of items identified as non-GAAP exclusions                                      |  | $0.95 | $(0.05) |   | $0.27 | $(0.37) |
| Net income per common share attributable to PVH Corp. excluding impact of items identified as non-GAAP exclusions |  | $6.55 - $6.65 | $2.35 - $2.40 |   | $6.45 - $6.55 | $1.25 - $1.30 |

|                                                                                                                                                 |
|-------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                 |  |  |  |
| 2016 Tax Rate Reconciliation                                                                                                                    |   | Full Year 2016 (Estimated) |
|                                                                                                                                            |   |   |
| GAAP tax rate                                                                                                                                   |   | 14 |  % |
| Estimated tax effects of items identified as non-GAAP exclusions and discrete tax benefits related to the resolution of uncertain tax positions |   | (6 | )% |
| Tax rate on a non-GAAP basis                                                                                                                    |   | 20 |  % |

----

|                                                                    |
|--------------------------------------------------------------------|
|                                                                    |  |  |  |  |  |  |  |  |
| 2016 Estimated Revenue on a Constant Currency Basis Reconciliation |   | Full Year 2016 (Estimated) (Consolidated) | Full Year 2016 (Estimated) (Calvin Klein) | Full Year 2016 (Estimated) (Tommy Hilfiger) |   | Third Quarter 2016 (Estimated) (Consolidated) | Third Quarter 2016 (Estimated) (Calvin Klein) | Third Quarter 2016 (Estimated) (Tommy Hilfiger) |
|                                                               |   |   |   |   |   |   |   |   |
| GAAP revenue increase                                              |   | 2% | 5% | 5% |   | 3% | 6% | 5% |
| Impact of foreign exchange                                         |   | (1)% | (2)% | —% |   | —% | —% | (1)% |
| Non-GAAP revenue increase on a constant currency basis             |   | 3% | 7% | 5% |   | 3% | 6% | 6% |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                |   | Full Year 2015 |   | Third Quarter 2015 |
|                                | (Actual) |   | (Actual) |
|                                | Results Under GAAP |   | Adjustments | (1)  | Non-GAAP Results |   | Results Under GAAP |   | Adjustments | (2)  | Non-GAAP Results |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                          |   | $ | 572.4 |  |   | $ | (13.3 | ) |   | $ | 585.7 |  |   | $ | 221.9 |  |   | $ | 0.8 |  |   | $ | 221.1 |  |
| Total weighted average shares       |   | 83.1 |  |   |   |   | 83.1 |  |   | 83.1 |  |   |   |   | 83.1 |  |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share |   | $ | 6.89 |  |   |   |   | $ | 7.05 |  |   | $ | 2.67 |  |   |   |   | $ | 2.66 |  |