|         |                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------|
| • | Second quarter revenue increased 7% compared to the prior year period, which exceeded guidance. |

|         |                                 |
|---------|---------------------------------|
| • | Second quarter EPS outperforms: |

|         |                                                          |
|---------|----------------------------------------------------------|
| ◦ | GAAP basis: $1.52 compared to guidance of $1.35 to $1.38 |

|         |                                                              |
|---------|--------------------------------------------------------------|
| ◦ | Non-GAAP basis: $1.69 compared to guidance of $1.60 to $1.63 |

|         |                                                                                          |
|---------|------------------------------------------------------------------------------------------|
| ◦ | EPS growth of 37% on a GAAP basis and 15% on a non-GAAP basis over the prior year period |

|         |                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------|
| ◦ | EPS included a negative impact of $0.05 per share related to foreign currency exchange rates compared to guidance of $0.07 |

|         |                              |
|---------|------------------------------|
| • | Full year 2017 EPS guidance: |

|         |                                                                     |
|---------|---------------------------------------------------------------------|
| ◦ | GAAP basis: Raised to $6.44 to $6.54 from $6.24 to $6.34 previously |

|         |                                                                         |
|---------|-------------------------------------------------------------------------|
| ◦ | Non-GAAP basis: Raised to $7.60 to $7.70 from $7.40 to $7.50 previously |

|         |                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------|
| ◦ | Guidance includes a negative impact of $0.20 per share related to foreign currency exchange rates compared to previous guidance of $0.35 |

----

----

----

----

----

|         |                                                                                                                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A 6% increase (7% increase on a constant currency basis) in the Calvin Klein business compared to the prior year period, driven by continued strength in Europe and China, partially offset by a reduction in revenue resulting from the Mexico deconsolidation. International comparable store sales increased 5%. North America comparable store sales decreased 3%. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A 5% increase (6% increase on a constant currency basis) in the Tommy Hilfiger business compared to the prior year period, driven principally by outstanding performance in Europe and the inclusion of a full first quarter of revenue from the China business as a result of the April 2016 TH China acquisition. Tommy Hilfiger International comparable store sales increased 9%. Partially offsetting these increases was a decrease in North America revenue due to a reduction of approximately $40 million resulting from the G-III license and a 1% comparable store sales decline. |

----

|         |                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A 4% increase in the Heritage Brands business compared to the prior year period, principally driven by a shift in the timing of shipments into the second quarter of 2017 from the third quarter as compared to the prior year period. Comparable store sales were flat. |

----

----

----

----

|         |                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $54 million incurred in the first quarter of 2017 in connection with the Li & Fung termination. |

|         |                                                                                                                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $25 million expected to be incurred in 2017 in connection with the TH China acquisition, primarily consisting of noncash amortization of short-lived assets, of which $7 million was incurred in the first quarter, $7 million was incurred in the second quarter and $6 million is expected to be incurred in the third quarter. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $20 million expected to be incurred in 2017 in connection with the relocation of the Tommy Hilfiger office in New York, including noncash depreciation expense, of which $7 million was incurred in the first quarter, $7 million was incurred in the second quarter and $6 million is expected to be incurred in the third quarter. |

|         |                                                                                                                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $15 million expected to be incurred in 2017 in connection with the consolidation of the Company’s warehouse and distribution network in North America, of which $2 million was incurred in the first quarter, $6 million was incurred in the second quarter and $6 million is expected to be incurred in the third quarter. |

|         |                                                                                                                                                                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $9 million incurred in the first quarter of 2017 in connection with the noncash settlement of certain of the Company’s benefit obligations related to its retirement plans as a result of an annuity purchased for certain participants, under which such obligations were transferred to an insurer. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | 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 were transaction-related pre-tax costs of $83 million incurred in 2016, primarily consisting of noncash 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, $17 million was incurred in the third quarter and $15 million was incurred in the fourth quarter. |

|         |                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax gain of $39 million recorded in the fourth quarter of 2016 related to the recognized actuarial gain on retirement plans. |

|         |                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax gain of $18 million recorded in the third quarter of 2016 in connection with a payment made to the Company to exit a TOMMY HILFIGER flagship store in Europe. |

|         |                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax noncash loss of $84 million recorded in 2016 in connection with the formation of the joint venture in Mexico, of which $77 million was recorded in the third quarter and $7 million was recorded upon completion of the Mexico deconsolidation in the fourth 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 costs of $11 million incurred in the fourth quarter of 2016 in connection with the early termination of the current license agreement for the Tommy Hilfiger men’s tailored clothing business in North America in order to consolidate under a different licensee the men’s tailored businesses for all Company brands in North America beginning January 1, 2018. |

|         |                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $10 million incurred in 2016 in connection with the integration of Warnaco and the related restructuring, of which $7 million was incurred in the first quarter and $2 million was incurred in the second 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. |

|         |                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $4 million incurred in 2016 in connection with the G-III license, of which $1 million was incurred in each of the first and second quarters and $2 million was 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. |

|         |                                                                                                                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Discrete tax benefits of $15 million recorded in 2016 related to the resolution of uncertain tax positions, of which $6 million was recorded in the first quarter, $8 million was recorded in the third quarter and $1 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. |

----

----

----

----

----

----

----

----

|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                   |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net sales                                                              |   | $ | 1,963.5 |  |   | $ | 1,845.4 |  |   |   |   | $ | 3,838.5 |  |   | $ | 3,663.1 |  |   |   |
| Royalty revenue                                                        |   | 81.4 |  |   | 69.9 |  |   |   |   | 168.7 |  |   | 147.0 |  |   |   |
| Advertising and other revenue                                          |   | 25.0 |  |   | 18.0 |  |   |   |   | 51.7 |  |   | 41.0 |  |   |   |
| Total revenue                                                          |   | $ | 2,069.9 |  |   | $ | 1,933.3 |  |   |   |   | $ | 4,058.9 |  |   | $ | 3,851.1 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit on net sales                                              |   | $ | 1,040.9 |  |   | $ | 945.9 |  |   |   |   | $ | 2,007.7 |  |   | $ | 1,852.7 |  |   |   |
| Gross profit on royalty, advertising and other revenue                 |   | 106.4 |  |   | 87.9 |  |   |   |   | 220.4 |  |   | 188.0 |  |   |   |
| Total gross profit                                                     |   | 1,147.3 |  |   | 1,033.8 |  |   |   |   | 2,228.1 |  |   | 2,040.7 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Selling, general and administrative expenses                           |   | 968.5 |  |   | 874.7 |  |   |   |   | 1,936.5 |  |   | 1,739.9 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| 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 income (loss) of unconsolidated affiliates               |   | 1.7 |  |   | (0.3 | ) |   |   |   | 2.1 |   | (0.5 | ) |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes                                     |   | 180.5 |  |   | 143.0 |  |   |   |   | 293.7 |  |   | 437.6 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense, net                                                  |   | 29.7 |  |   | 28.1 |  |   |   |   | 58.4 |  |   | 57.1 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pre-tax income                                                         |   | 150.8 |  |   | 114.9 |  |   |   |   | 235.3 |  |   | 380.5 |  |   |   |
|                                                                   |   |  |  |   |   |   |   |   |   |   |   |   |   |
| Income tax expense                                                     |   | 31.4 |  |   | 24.4 |  |   |   |   | 45.8 |  |   | 58.4 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                             |   | 119.4 |  |   | 90.5 |  |   |   |   | 189.5 |  |   | 322.1 |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: Net loss attributable to redeemable non-controlling interest (1) |   | (0.3 | ) |   | — |  |   |   |   | (0.6 | ) |   | — |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                                   |   | $ | 119.7 |  |   | $ | 90.5 |  |   |   |   | $ | 190.1 |  |   | $ | 322.1 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp. (2)      |   | $ | 1.52 |  |   | $ | 1.11 |  |   |   |   | $ | 2.41 |  |   | $ | 3.95 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                   |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense                                  |   | $ | 80.6 |  |   | $ | 82.6 |  |   |   |   | $ | 157.8 |  |   | $ | 153.2 |  |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                            |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | The Company and Arvind Limited formed a joint venture in Ethiopia in the second quarter of 2016, 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 |   |   |
|                                                                  |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-GAAP Measures                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total gross profit (1)                                                |   |  |  |   | $ | 1,038.2 |  |   |   |   |   |   | $ | 2,046.2 |  |   |   |
| Selling, general and administrative expenses (2)                      |   | $ | 949.3 |  |   | 855.2 |  |   |   |   | $ | 1,838.0 |  |   | 1,680.4 |  |   |   |
| Debt modification and extinguishment costs (3)                        |   |  |   | — |  |   |   |   |   |   | — |  |   |   |
| Gain to write-up equity investment in joint venture to fair value (4) |   |  |  |   |  |  |   |   |   |   |   | — |  |   |   |
| Equity in net income of unconsolidated affiliates (5)                 |   |  |  |   |  |  |   |   |   |   |   | 5.4 |  |   |   |
| Earnings before interest and taxes (6)                                |   | 199.7 |  |   | 182.7 |  |   |   |   | 392.2 |  |   | 371.2 |  |   |   |
| Income tax expense (7)                                                |   | 37.2 |  |   | 34.8 |  |   |   |   | 71.1 |  |   | 71.5 |  |   |   |
| Net income attributable to PVH Corp. (8)                              |   | 133.1 |  |   | 119.8 |  |   |   |   | 263.3 |  |   | 242.6 |  |   |   |
| Diluted net income per common share attributable to PVH Corp. (9)     |   | $ | 1.69 |  |   | $ | 1.47 |  |   |   |   | $ | 3.34 |  |   | $ | 2.97 |  |   |   |
|                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense (10)                            |   | $ | 69.6 |  |   | $ | 67.1 |  |   |   |   | $ | 136.0 |  |   | $ | 132.3 |  |   |   |
|                                                                  |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                      |
| (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 debt modification and extinguishment costs to debt modification and extinguishment costs on a non-GAAP basis.                                                                              |
| (4)    Please see Table 6 for reconciliation of GAAP gain to write-up equity investment in joint venture to fair value to gain to write-up equity investment in joint venture to fair value on a non-GAAP basis.                                 |
| (5)    Please see Table 7 for reconciliation of GAAP equity in net (loss) of unconsolidated affiliates to equity in net income of unconsolidated affiliates on a non-GAAP basis.                                                                 |
| (6)    Please see Table 2 for reconciliations of GAAP earnings before interest and taxes to earnings before interest and taxes on a non-GAAP basis.                                                                                              |
| (7)    Please see Table 8 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. |
| (8)    Please see Table 1 for reconciliations of GAAP net income to net income on a non-GAAP basis.                                                                                                                                              |
| (9)    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.                                         |
| (10)    Please see Table 9 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 |   |   |
|                                                                                                                                                                                                                       |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                                                                                                                                                                                       |   | $ | 119.7 |  |   | $ | 90.5 |  |   |   |   | $ | 190.1 |  |   | $ | 322.1 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp.(1)                                                                                                                                                           |   | $ | 1.52 |  |   | $ | 1.11 |  |   |   |   | $ | 2.41 |  |   | $ | 3.95 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Pre-tax items excluded:                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit charges associated with the TH China acquisition (short-lived noncash inventory valuation adjustments)                                                                                                        |   |  |   | 4.4 |  |   |   |   |  |  |   | 5.5 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the Li & Fung termination                                                                                                                                                            |   |  |  |   |  |  |   |   |   | 54.2 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the relocation of the Tommy Hilfiger office in New York (including noncash depreciation expense)                                                                                         |   | 7.1 |  |   |  |   |   |   | 14.1 |  |   |  |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the TH China acquisition (primarily consisting of noncash amortization of short-lived assets)                                                                                            |   | 6.6 |  |   | 15.9 |  |   |   |   | 13.5 |  |   | 39.0 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the noncash settlement of certain of the Company’s benefit obligations related to its retirement plans as a result of an annuity purchased for certain participants                |   |  |  |   |  |  |   |   |   | 9.4 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the consolidation of the Company’s warehouse and distribution network in North America                                                                                             |   | 5.5 |  |   |  |   |   |   | 7.3 |  |   |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the integration of Warnaco and related restructuring                                                                                                                                     |   |  |  |   | 2.3 |  |   |   |   |  |  |   | 9.8 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the G-III license                                                                                                                                                                        |   |  |   | 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 discontinuation of several licensed product lines in the Heritage Brands dress furnishings business                                                                                  |   |  |   |  |   |   |   |  |   | 2.6 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| 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 income (loss) of unconsolidated affiliates)                                                                     |   |  |   |  |   |   |   |  |   | 5.9 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs                                                                                                                                                                                 |   |  |   | 15.8 |  |   |   |   |  |  |   | 15.8 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Tax effects of the above pre-tax items(2)                                                                                                                                                                                  |   | (5.8 | ) |   | (10.4 | ) |   |   |   | (25.3 | ) |   | (7.3 | ) |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Discrete tax benefits related to the resolution of uncertain tax positions                                                                                                                                                 |   |  |   |  |   |   |   |  |   | (5.8 | ) |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income on a non-GAAP basis attributable to PVH Corp.                                                                                                                                                                   |   | $ | 133.1 |  |   | $ | 119.8 |  |   |   |   | $ | 263.3 |  |   | $ | 242.6 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share on a non-GAAP basis attributable to PVH Corp.(1)                                                                                                                                       |   | $ | 1.69 |  |   | $ | 1.47 |  |   |   |   | $ | 3.34 |  |   | $ | 2.97 |  |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| (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 8 for an explanation of the calculation of the tax effects of the above items.                                                                                                       |

----

|                                                                                                                                                                                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 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 |   |   |
|                                                                                                                                                                                                        |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes                                                                                                                                                                          |   | $ | 180.5 |  |   | $ | 143.0 |  |   |   |   | $ | 293.7 |  |   | $ | 437.6 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit charges associated with the TH China acquisition (short-lived noncash inventory valuation adjustments)                                                                                         |   |  |   | 4.4 |  |   |   |   |  |   | 5.5 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the Li & Fung termination                                                                                                                                             |   |  |   |  |   |   |   | 54.2 |  |   |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the relocation of the Tommy Hilfiger office in New York (including noncash depreciation expense)                                                                          |   | 7.1 |  |   |  |   |   |   | 14.1 |  |   |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the TH China acquisition (primarily consisting of noncash amortization of short-lived assets)                                                                             |   | 6.6 |  |   | 15.9 |  |   |   |   | 13.5 |  |   | 39.0 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the noncash settlement of certain of the Company’s benefit obligations related to its retirement plans as a result of an annuity purchased for certain participants |   |  |   |  |   |   |   | 9.4 |  |   |  |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the consolidation of the Company’s warehouse and distribution network in North America                                                                              |   | 5.5 |  |   |  |   |   |   | 7.3 |  |   |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the integration of Warnaco and related restructuring                                                                                                                      |   |  |   | 2.3 |  |   |   |   |  |   | 9.8 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the G-III license                                                                                                                                                         |   |  |   | 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 discontinuation of several licensed product lines in the Heritage Brands dress furnishings business                                                                   |   |  |   |  |   |   |   |  |  |   | 2.6 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| 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 income (loss) of unconsolidated affiliates)                                                      |   |  |   |  |   |   |   |  |   | 5.9 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs                                                                                                                                                                  |   |  |   | 15.8 |  |   |   |   |  |   | 15.8 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings before interest and taxes on a non-GAAP basis                                                                                                                                                      |   | $ | 199.7 |  |   | $ | 182.7 |  |   |   |   | $ | 392.2 |  |   | $ | 371.2 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                     |
|---------------------------------------------------------------------------------------------------------------------|
|                                                                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 3 - Reconciliations of GAAP gross profit to gross profit on a non-GAAP basis                                  |   |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |
|                                                                                                                | Quarter Ended |   |   | Six Months Ended |   |   |
|                                                                                                                |   | 7/31/16 |   |   |   | 7/31/16 |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |
| Gross profit                                                                                                        |   | $ | 1,033.8 |  |   |   |   | $ | 2,040.7 |  |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |
| Item excluded:                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |
| Gross profit charges associated with the TH China acquisition (short-lived noncash inventory valuation adjustments) |   | 4.4 |  |   |   |   | 5.5 |  |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |
| Gross profit on a non-GAAP basis                                                                                    |   | $ | 1,038.2 |  |   |   |   | $ | 2,046.2 |  |   |   |
|                                                                                                                |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 4 - Reconciliations of GAAP SG&A to SG&A on a non-GAAP basis                                                                                                                                  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                        |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                                                                                        |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A                                                                                                                                                                                                    |   | $ | 968.5 |  |   | $ | 874.7 |  |   |   |   | $ | 1,936.5 |  |   | $ | 1,739.9 |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the Li & Fung termination                                                                                                                                             |   |  |   |  |   |   |   | (54.2 | ) |   |  |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the relocation of the Tommy Hilfiger office in New York (including noncash depreciation expense)                                                                          |   | (7.1 | ) |   |  |   |   |   | (14.1 | ) |   |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the TH China acquisition (primarily consisting of noncash amortization of short-lived assets)                                                                             |   | (6.6 | ) |   | (15.9 | ) |   |   |   | (13.5 | ) |   | (39.0 | ) |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the noncash settlement of certain of the Company’s benefit obligations related to its retirement plans as a result of an annuity purchased for certain participants |   |  |   |  |   |   |   | (9.4 | ) |   |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the consolidation of the Company’s warehouse and distribution network in North America                                                                              |   | (5.5 | ) |   |  |  |   |   |   | (7.3 | ) |   |  |  |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the integration of Warnaco and related restructuring                                                                                                                      |   |  |  |   | (2.3 | ) |   |   |   |  |  |   | (9.8 | ) |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A expenses associated with the G-III license                                                                                                                                                         |   |  |  |   | (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 discontinuation of several licensed product lines in the Heritage Brands dress furnishings business                                                                   |   |  |  |   |  |  |   |   |   |  |  |   | (2.6 | ) |   |   |
|                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| SG&A on a non-GAAP basis                                                                                                                                                                                |   | $ | 949.3 |  |   | $ | 855.2 |  |   |   |   | $ | 1,838.0 |  |   | $ | 1,680.4 |  |   |   |
|                                                                                                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 5 - Reconciliations of GAAP debt modification and extinguishment costs to debt modification and extinguishment costs on a non-GAAP basis |   |   |
|                                                                                                                                           |   |   |   |   |   |   |   |   |
|                                                                                                                                           |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                           |   | 7/31/16 |   |   |   | 7/31/16 |   |   |
|                                                                                                                                           |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs                                                                                                     |   | $ | 15.8 |  |   |   |   | $ | 15.8 |  |   |   |
|                                                                                                                                           |   |   |   |   |   |   |   |   |
| Item excluded:                                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                           |   |   |   |   |   |   |   |   |
| Costs incurred associated with the amendment of the Company’s credit facility                                                            |   | (15.8 | ) |   |   |   | (15.8 | ) |   |   |
|                                                                                                                                           |   |   |   |   |   |   |   |   |
| Debt modification and extinguishment costs on a non-GAAP basis                                                                                 |   | $ | — |  |   |   |   | $ | — |  |   |   |
|                                                                                                                                           |   |   |

|                                                                                                                                                                                             |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                             |  |  |  |  |  |  |
| Table 6 - Reconciliation of GAAP gain to write-up equity investment in joint venture to fair value to gain to write-up equity investment in joint venture to fair value on a non-GAAP basis |   |   |
|                                                                                                                                                                                        |   |   |   |   |
|                                                                                                                                                                                        |   | Six Months Ended |   |   |
|                                                                                                                                                                                        |   | 7/31/16 |   |   |
|                                                                                                                                                                                        |   |   |   |   |
| Gain to write-up equity investment in joint venture to fair value                                                                                                                           |   | $ | 153.1 |  |   |   |
|                                                                                                                                                                                        |   |   |   |   |
| Item excluded:                                                                                                                                                                              |   |   |   |   |
|                                                                                                                                                                                        |   |   |   |   |
| Gain to write-up the Company’s equity investment in TH China to fair value                                                                                                            |   | (153.1 | ) |   |   |
|                                                                                                                                                                                        |   |   |   |   |
| Gain to write-up equity investment in joint venture to fair value on a non-GAAP basis                                                                                                       |   | $ | — |  |   |   |
|                                                                                                                                                                                        |   |   |

|                                                                                                                                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                             |  |  |  |  |  |  |
| Table 7 - Reconciliation of GAAP equity in net (loss) of unconsolidated affiliates to equity in net income of unconsolidated affiliates on a non-GAAP basis |
|                                                                                                                                                        |   |   |   |   |
|                                                                                                                                                        |   | Six Months Ended |   |   |
|                                                                                                                                                        |   | 7/31/16 |   |   |
|                                                                                                                                                        |   |   |   |   |
| Equity in net (loss) of unconsolidated affiliates                                                                                                           |   | $ | (0.5 | ) |   |   |
|                                                                                                                                                        |   |   |   |   |
| Item excluded:                                                                                                                                              |   |   |   |   |
|                                                                                                                                                        |   |   |   |   |
| One-time expenses recorded on the Company’s equity investment in TH China                                                                             |   | 5.9 |  |   |   |
|                                                                                                                                                        |   |   |   |   |
| Equity in net income of unconsolidated affiliates on a non-GAAP basis                                                                                       |   | $ | 5.4 |  |   |   |
|                                                                                                                                                        |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Table 8 - Reconciliations of GAAP income tax expense to income tax expense on a non-GAAP basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $ | 31.4 |  |   | $ | 24.4 |  |   |   |   | $ | 45.8 |  |   | $ | 58.4 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Tax effects of pre-tax items identified as non-GAAP exclusions (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 5.8 |  |   | 10.4 |  |   |   |   | 25.3 |  |   | 7.3 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Discrete tax benefits related to the resolution of uncertain tax positions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |  |   |  |   |   |   |  |   | 5.8 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax expense on a non-GAAP basis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $ | 37.2 |  |   | $ | 34.8 |  |   |   |   | $ | 71.1 |  |   | $ | 71.5 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| (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 pre-tax 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 9 - Reconciliations of GAAP depreciation and amortization expense to depreciation and amortization expense on a non-GAAP basis |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                 |   | Quarter Ended |   |   |   | Six Months Ended |   |   |
|                                                                                                                                 |   | 7/30/17 |   | 7/31/16 |   |   |   | 7/30/17 |   | 7/31/16 |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense                                                                                                |   | $ | 80.6 |  |   | $ | 82.6 |  |   |   |   | $ | 157.8 |  |   | $ | 153.2 |  |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Items excluded:                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation associated with the relocation of the Tommy Hilfiger office in New York                                                 |   | (4.6 | ) |   |  |  |   |   |   | (9.1 | ) |   |  |  |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Amortization of short-lived assets associated with the TH China acquisition                                                          |   | (6.4 | ) |   | (14.2 | ) |   |   |   | (12.7 | ) |   | (17.9 | ) |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization associated with the G-III license                                                                      |   |  |   | (1.3 | ) |   |   |   |  |   | (2.6 | ) |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization associated with the integration of Warnaco and related restructuring                                   |   |  |   |  |  |   |   |   |  |   | (0.4 | ) |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization expense on a non-GAAP basis                                                                            |   | $ | 69.6 |  |   | $ | 67.1 |  |   |   |   | $ | 136.0 |  |   | $ | 132.3 |  |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          |   | Quarter Ended |   |   |   | Quarter Ended |
|                                                          |   | 7/30/17 |   |   |   | 7/31/16 |
|                                                          |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                          |   | Results |   | Adjustments | (1)  | Results |   |   |   | Results |   | Adjustments | (2)  | Results |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                          |   | $ | 119.7 |  |   | $ | (13.4 | ) |   | $ | 133.1 |  |   |   |   | $ | 90.5 |  |   | $ | (29.3 | ) |   | $ | 119.8 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                |   | 77.8 |  |   |  |   | 77.8 |  |   |   |   | 80.7 |  |   |  |   | 80.7 |  |   |
| Weighted average dilutive securities                          |   | 0.9 |  |   |  |  |   | 0.9 |  |   |   |   | 0.6 |  |   |  |   | 0.6 |  |   |
| Total shares                                                  |   | 78.7 |  |   |   |   | 78.7 |  |   |   |   | 81.3 |  |   |   |   | 81.3 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp. |   | $ | 1.52 |  |   |   |   | $ | 1.69 |  |   |   |   | $ | 1.11 |  |   |   |   | $ | 1.47 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                                          |   | 7/30/17 |   |   |   | 7/31/16 |   |
|                                                          |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                          |   | Results |   | Adjustments | (1)  | Results |   |   |   | Results |   | Adjustments | (2)  | Results |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to PVH Corp.                          |   | $ | 190.1 |  |   | $ | (73.2 | ) |   | $ | 263.3 |  |   |   |   | $ | 322.1 |  |   | $ | 79.5 |  |   | $ | 242.6 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                |   | 78.0 |  |   |  |   | 78.0 |  |   |   |   | 81.0 |  |   |  |  |   | 81.0 |  |   |
| Weighted average dilutive securities                          |   | 0.8 |  |   |  |  |   | 0.8 |  |   |   |   | 0.6 |  |   |  |   | 0.6 |  |   |
| Total shares                                                  |   | 78.8 |  |   |   |   | 78.8 |  |   |   |   | 81.6 |  |   |   |   | 81.6 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share attributable to PVH Corp. |   | $ | 2.41 |  |   |   |   | $ | 3.34 |  |   |   |   | $ | 3.95 |  |   |   |   | $ | 2.97 |  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Represents the impact on net income in the periods ended July 30, 2017 from the elimination of (i) the costs incurred in connection with the TH China acquisition, primarily consisting of noncash amortization of short-lived assets; (ii) the costs incurred in connection with the Li & Fung termination; (iii) the costs incurred in connection with the relocation of the Tommy Hilfiger office in New York, including noncash depreciation expense; (iv) the costs incurred in connection with the noncash settlement of certain of the Company’s benefit obligations related to its retirement plans as a result of an annuity purchased for certain participants, under which such obligations were transferred to an insurer; (v) the costs incurred in connection with the consolidation of the Company’s warehouse and distribution network in North America; and (vi) the tax effects associated with the foregoing pre-tax items. Please see Table 1 for a reconciliation of GAAP net income to net income on a non-GAAP basis. |

----

|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |
|                                                                            | 7/30/17 |   | 7/31/16 |
| ASSETS                                                                          |   |   |   |
| Current Assets:                                                                 |   |   |   |
| Cash and Cash Equivalents                                                       | $ | 559.4 |  |   | $ | 741.7 |  |
| Receivables                                                                     | 672.6 |  |   | 594.3 |  |
| Inventories                                                                     | 1,498.6 |  |   | 1,412.1 |  |
| Other                                                                           | 204.9 |  |   | 190.9 |  |
| Total Current Assets                                                            | 2,935.5 |  |   | 2,939.0 |  |
| Property, Plant and Equipment                                                   | 805.8 |  |   | 736.0 |  |
| Goodwill and Other Intangible Assets                                            | 7,348.7 |  |   | 7,288.1 |  |
| Other Assets                                                                    | 363.9 |  |   | 216.7 |  |
|                                                                            | $ | 11,453.9 |  |   | $ | 11,179.8 |  |
|                                                                            |   |   |   |
| LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY |
| Accounts Payable and Accrued Expenses                                           | $ | 1,615.2 |  |   | $ | 1,368.8 |  |
| Short-Term Borrowings                                                           | 18.0 |  |   | 19.4 |  |
| Current Portion of Long-Term Debt                                               | — |  |   | — |  |
| Other Liabilities                                                               | 1,536.7 |  |   | 1,629.8 |  |
| Long-Term Debt                                                                  | 3,185.7 |  |   | 3,358.2 |  |
| Redeemable Non-Controlling Interest                                             | 3.1 |  |   | 0.1 |  |
| Stockholders’ Equity                                                      | 5,095.2 |  |   | 4,803.5 |  |
|                                                                            | $ | 11,453.9 |  |   | $ | 11,179.8 |  |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                     |   |   |   |   |   |   |   |
| Segment Data                  |   |   |   |   |   |   |   |
| (In millions)                 |   |   |   |   |   |   |   |
|                          |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT            |   |   |   |   |   |   |   |
|                          |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                          |   | 7/30/17 |   |   |   | 7/31/16 |   |
|                          |   |   |   |   |   |   |   |
| Calvin Klein North America    |   |   |   |   |   |   |   |
| Net sales                     |   | $ | 348.3 |  |   |   |   | $ | 361.3 |  |   |
| Royalty revenue               |   | 31.6 |  |   |   |   | 28.0 |  |   |
| Advertising and other revenue |   | 12.3 |  |   |   |   | 8.7 |  |   |
| Total                         |   | 392.2 |  |   |   |   | 398.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Calvin Klein International    |   |   |   |   |   |   |   |
| Net sales                     |   | 370.0 |  |   |   |   | 306.2 |  |   |
| Royalty revenue               |   | 17.3 |  |   |   |   | 16.8 |  |   |
| Advertising and other revenue |   | 7.0 |  |   |   |   | 5.4 |  |   |
| Total                         |   | 394.3 |  |   |   |   | 328.4 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Calvin Klein            |   |   |   |   |   |   |   |
| Net sales                     |   | 718.3 |  |   |   |   | 667.5 |  |   |
| Royalty revenue               |   | 48.9 |  |   |   |   | 44.8 |  |   |
| Advertising and other revenue |   | 19.3 |  |   |   |   | 14.1 |  |   |
| Total                         |   | 786.5 |  |   |   |   | 726.4 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger North America  |   |   |   |   |   |   |   |
| Net sales                     |   | 380.8 |  |   |   |   | 396.0 |  |   |
| Royalty revenue               |   | 15.3 |  |   |   |   | 9.2 |  |   |
| Advertising and other revenue |   | 3.7 |  |   |   |   | 2.2 |  |   |
| Total                         |   | 399.8 |  |   |   |   | 407.4 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger International  |   |   |   |   |   |   |   |
| Net sales                     |   | 479.1 |  |   |   |   | 442.1 |  |   |
| Royalty revenue               |   | 11.7 |  |   |   |   | 10.1 |  |   |
| Advertising and other revenue |   | 1.0 |  |   |   |   | 0.6 |  |   |
| Total                         |   | 491.8 |  |   |   |   | 452.8 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Tommy Hilfiger          |   |   |   |   |   |   |   |
| Net sales                     |   | 859.9 |  |   |   |   | 838.1 |  |   |
| Royalty revenue               |   | 27.0 |  |   |   |   | 19.3 |  |   |
| Advertising and other revenue |   | 4.7 |  |   |   |   | 2.8 |  |   |
| Total                         |   | 891.6 |  |   |   |   | 860.2 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Wholesale     |   |   |   |   |   |   |   |
| Net sales                     |   | 316.7 |  |   |   |   | 270.7 |  |   |
| Royalty revenue               |   | 4.7 |  |   |   |   | 5.2 |  |   |
| Advertising and other revenue |   | 0.9 |  |   |   |   | 1.1 |  |   |
| Total                         |   | 322.3 |  |   |   |   | 277.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Retail        |   |   |   |   |   |   |   |
| Net sales                     |   | 68.6 |  |   |   |   | 69.1 |  |   |
| Royalty revenue               |   | 0.8 |  |   |   |   | 0.6 |  |   |
| Advertising and other revenue |   | 0.1 |  |   |   |   | 0.0 |  |   |
| Total                         |   | 69.5 |  |   |   |   | 69.7 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Heritage Brands         |   |   |   |   |   |   |   |
| Net sales                     |   | 385.3 |  |   |   |   | 339.8 |  |   |
| Royalty revenue               |   | 5.5 |  |   |   |   | 5.8 |  |   |
| Advertising and other revenue |   | 1.0 |  |   |   |   | 1.1 |  |   |
| Total                         |   | 391.8 |  |   |   |   | 346.7 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Revenue                 |   |   |   |   |   |   |   |
| Net sales                     |   | 1,963.5 |  |   |   |   | 1,845.4 |  |   |
| Royalty revenue               |   | 81.4 |  |   |   |   | 69.9 |  |   |
| Advertising and other revenue |   | 25.0 |  |   |   |   | 18.0 |  |   |
| Total                         |   | $ | 2,069.9 |  |   |   |   | $ | 1,933.3 |  |   |
|                          |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In millions)                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |   |   |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                                          |   | 7/30/17 |   |   |   | 7/31/16 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   | GAAP |   | Adjustments(2) |   | Results |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein North America                    |   | $ | 48.0 |  |   |  |  |   | $ | 48.0 |  |   |   |   | $ | 55.2 |  |   |  |  |   | $ | 55.2 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein International                    |   | 47.5 |  |   |  |  |   | 47.5 |  |   |   |   | 50.5 |  |   |  |  |   | 50.5 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 95.5 |  |   |  |  |   | 95.5 |  |   |   |   | 105.7 |  |   |  |  |   | 105.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 53.2 |  |   | $ | (7.1 | ) |   | 60.3 |  |   |   |   | 46.1 |  |   | $ | (1.3 | ) |   | 47.4 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 38.2 |  |   | (6.6 | ) |   | 44.8 |  |   |   |   | 29.5 |  |   | (20.3 | ) |   | 49.8 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 91.4 |  |   | (13.7 | ) |   | 105.1 |  |   |   |   | 75.6 |  |   | (21.6 | ) |   | 97.2 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Wholesale                     |   | 30.5 |  |   |  |  |   | 30.5 |  |   |   |   | 8.3 |  |   |  |  |   | 8.3 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Retail                        |   | 4.5 |  |   |  |  |   | 4.5 |  |   |   |   | 3.7 |  |   |  |  |   | 3.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 35.0 |  |   |  |  |   | 35.0 |  |   |   |   | 12.0 |  |   |   |   | 12.0 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (41.4 | ) |   | (5.5 | ) |   | (35.9 | ) |   |   |   | (50.3 | ) |   | (18.1 | ) |   | (32.2 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 180.5 |  |   | $ | (19.2 | ) |   | $ | 199.7 |  |   |   |   | $ | 143.0 |  |   | $ | (39.7 | ) |   | $ | 182.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for the quarter ended July 30, 2017 represent the elimination of (i) the costs incurred in connection with the TH China acquisition, primarily consisting of noncash amortization of short-lived assets; (ii) the costs incurred in connection with the relocation of the Tommy Hilfiger office in New York, including noncash depreciation expense; and (iii) the costs incurred in connection with the consolidation of the Company’s warehouse and distribution network in North America. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | 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 G-III license; (iii) the costs incurred in connection with the TH China acquisition, primarily consisting of noncash valuation adjustments and amortization of short-lived assets; and (iv) the costs incurred in connection with the amendment of the Company’s credit facility. |

----

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                     |   |   |   |   |   |   |   |
| Segment Data (continued)      |   |   |   |   |   |   |   |
| (In millions)                 |   |   |   |   |   |   |   |
|                          |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT            |   |   |   |   |   |   |   |
|                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                          |   | 7/30/17 |   |   |   | 7/31/16 |   |
| Calvin Klein North America    |   |   |   |   |   |   |   |
| Net sales                     |   | $ | 678.4 |  |   |   |   | $ | 700.1 |  |   |
| Royalty revenue               |   | 66.7 |  |   |   |   | 58.3 |  |   |
| Advertising and other revenue |   | 22.5 |  |   |   |   | 20.2 |  |   |
| Total                         |   | 767.6 |  |   |   |   | 778.6 |  |   |
|                          |   |   |   |   |   |   |   |
| Calvin Klein International    |   |   |   |   |   |   |   |
| Net sales                     |   | 724.8 |  |   |   |   | 622.5 |  |   |
| Royalty revenue               |   | 36.9 |  |   |   |   | 35.4 |  |   |
| Advertising and other revenue |   | 13.0 |  |   |   |   | 12.6 |  |   |
| Total                         |   | 774.7 |  |   |   |   | 670.5 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Calvin Klein            |   |   |   |   |   |   |   |
| Net sales                     |   | 1,403.2 |  |   |   |   | 1,322.6 |  |   |
| Royalty revenue               |   | 103.6 |  |   |   |   | 93.7 |  |   |
| Advertising and other revenue |   | 35.5 |  |   |   |   | 32.8 |  |   |
| Total                         |   | 1,542.3 |  |   |   |   | 1,449.1 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger North America  |   |   |   |   |   |   |   |
| Net sales                     |   | 678.9 |  |   |   |   | 717.1 |  |   |
| Royalty revenue               |   | 31.8 |  |   |   |   | 20.2 |  |   |
| Advertising and other revenue |   | 7.6 |  |   |   |   | 4.7 |  |   |
| Total                         |   | 718.3 |  |   |   |   | 742.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Tommy Hilfiger International  |   |   |   |   |   |   |   |
| Net sales                     |   | 986.9 |  |   |   |   | 886.7 |  |   |
| Royalty revenue               |   | 21.8 |  |   |   |   | 21.7 |  |   |
| Advertising and other revenue |   | 6.6 |  |   |   |   | 1.6 |  |   |
| Total                         |   | 1,015.3 |  |   |   |   | 910.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Tommy Hilfiger          |   |   |   |   |   |   |   |
| Net sales                     |   | 1,665.8 |  |   |   |   | 1,603.8 |  |   |
| Royalty revenue               |   | 53.6 |  |   |   |   | 41.9 |  |   |
| Advertising and other revenue |   | 14.2 |  |   |   |   | 6.3 |  |   |
| Total                         |   | 1,733.6 |  |   |   |   | 1,652.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Wholesale     |   |   |   |   |   |   |   |
| Net sales                     |   | 643.5 |  |   |   |   | 609.9 |  |   |
| Royalty revenue               |   | 9.7 |  |   |   |   | 10.2 |  |   |
| Advertising and other revenue |   | 1.8 |  |   |   |   | 1.8 |  |   |
| Total                         |   | 655.0 |  |   |   |   | 621.9 |  |   |
|                          |   |   |   |   |   |   |   |
| Heritage Brands Retail        |   |   |   |   |   |   |   |
| Net sales                     |   | 126.0 |  |   |   |   | 126.8 |  |   |
| Royalty revenue               |   | 1.8 |  |   |   |   | 1.2 |  |   |
| Advertising and other revenue |   | 0.2 |   |   |   | 0.1 |  |   |
| Total                         |   | 128.0 |  |   |   |   | 128.1 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Heritage Brands         |   |   |   |   |   |   |   |
| Net sales                     |   | 769.5 |  |   |   |   | 736.7 |  |   |
| Royalty revenue               |   | 11.5 |  |   |   |   | 11.4 |  |   |
| Advertising and other revenue |   | 2.0 |  |   |   |   | 1.9 |  |   |
| Total                         |   | 783.0 |  |   |   |   | 750.0 |  |   |
|                          |   |   |   |   |   |   |   |
| Total Revenue                 |   |   |   |   |   |   |   |
| Net sales                     |   | 3,838.5 |  |   |   |   | 3,663.1 |  |   |
| Royalty revenue               |   | 168.7 |  |   |   |   | 147.0 |  |   |
| Advertising and other revenue |   | 51.7 |  |   |   |   | 41.0 |  |   |
| Total                         |   | $ | 4,058.9 |  |   |   |   | $ | 3,851.1 |  |   |
|                          |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In millions)                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |   |   |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Six Months Ended |   |   |   | Six Months Ended |   |
|                                          |   | 7/30/17 |   |   |   | 7/31/16 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   | GAAP |   | Adjustments(2) |   | Results |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein North America                    |   | $ | 89.9 |  |   |  |  |   | $ | 89.9 |  |   |   |   | $ | 93.3 |  |   | $ | (2.9 | ) |   | $ | 96.2 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein International                    |   | 99.1 |  |   |  |  |   | 99.1 |  |   |   |   | 102.7 |  |   | (5.4 | ) |   | 108.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 189.0 |  |   |  |  |   | 189.0 |  |   |   |   | 196.0 |  |   | (8.3 | ) |   | 204.3 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 34.4 |  |   | $ | (45.4 | ) |   | 79.8 |  |   |   |   | 69.1 |  |   | (2.6 | ) |   | 71.7 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 90.3 |  |   | (36.4 | ) |   | 126.7 |  |   |   |   | 212.8 |  |   | 102.7 |  |   | 110.1 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 124.7 |  |   | (81.8 | ) |   | 206.5 |  |   |   |   | 281.9 |  |   | 100.1 |  |   | 181.8 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Wholesale                     |   | 60.8 |  |   |  |  |   | 60.8 |  |   |   |   | 36.2 |  |   | (3.0 | ) |   | 39.2 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brands Retail                        |   | 6.0 |  |   |  |  |   | 6.0 |  |   |   |   | 5.8 |  |   |  |  |   | 5.8 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 66.8 |  |   |  |  |   | 66.8 |  |   |   |   | 42.0 |  |   | (3.0 | ) |   | 45.0 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (86.8 | ) |   | (16.7 | ) |   | (70.1 | ) |   |   |   | (82.3 | ) |   | (22.4 | ) |   | (59.9 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 293.7 |  |   | $ | (98.5 | ) |   | $ | 392.2 |  |   |   |   | $ | 437.6 |  |   | $ | 66.4 |  |   | $ | 371.2 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Adjustments for the six months ended July 30, 2017 represent the elimination of (i) the costs incurred in connection with the TH China acquisition, primarily consisting of noncash amortization of short-lived assets; (ii) the costs incurred in connection with the Li & Fung termination; (iii) the costs incurred in connection with the relocation of the Tommy Hilfiger office in New York, including noncash depreciation expense; (iv) the costs incurred in connection with the noncash settlement of certain of the Company’s benefit obligations related to its retirement plans as a result of an annuity purchased for certain participants, under which such obligations were transferred to an insurer; and (v) the costs incurred in connection with the consolidation of the Company’s warehouse and distribution network in North America. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | 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 G-III license; (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, primarily consisting of noncash valuation adjustments and amortization of short-lived assets; and (viii) the costs incurred in connection with the amendment of the Company’s credit facility. |

----

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |

|                      |
|----------------------|
|                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                 |   | GAAP Revenue |   | % Change |
|                 |   | Six Months Ended |   | GAAP |   | Impact of Foreign Exchange |   | Constant Currency |
|                 |   | 7/30/17 |   | 7/31/16 |   |   |   |
|                 |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein   |   | $ | 1,542.3 |  |   | $ | 1,449.1 |  |   | 6.4 | % |   | (0.6 | )% |   | 7.0 | % |
|                 |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger |   | $ | 1,733.6 |  |   | $ | 1,652.0 |  |   | 4.9 | % |   | (1.5 | )% |   | 6.4 | % |
|                 |   |   |   |   |   |   |   |   |   |   |
| Total Revenue        |   | $ | 4,058.9 |  |   | $ | 3,851.1 |  |   | 5.4 | % |   | (0.8 | )% |   | 6.2 | % |

----

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |
| 2017 Net Income Per Common Share Reconciliations                             |  | Current Guidance |   | Previous Guidance |
|                                                                              | Full Year2017(Estimated) | Third Quarter2017(Estimated) |   | Full Year2017(Estimated) | Second Quarter2017(Estimated) |
|                                                                              |  |  |  |   |   |   |
| GAAP net income per common share attributable to PVH Corp.                   |  | $6.44 - $6.54 | $2.74 - $2.78 |   | $6.24 - $6.34 | $1.35 - $1.38 |
| Estimated per common share impact of items identified as non-GAAP exclusions |  | $(1.16) | $(0.14) |   | $(1.16) | $(0.25) |
| Net income per common share attributable to PVH Corp. on a non-GAAP basis    |  | $7.60 - $7.70 | $2.88 - $2.92 |   | $7.40 - $7.50 | $1.60 - $1.63 |

|                                                                  |
|------------------------------------------------------------------|
|                                                                  |  |  |  |  |
| 2017 Tax Rate Reconciliation                                     |   | Full Year 2017 (Estimated) |   | Third Quarter 2017  (Estimated) |
|                                                             |   |   |   |   |
| GAAP tax rate                                                    |   | 15.0% - 15.5% |   | 10% |
| Estimated tax effects of items identified as non-GAAP exclusions |   | (2)% |   | (2)% |
| Tax rate on a non-GAAP basis                                     |   | 17.0% - 17.5% |   | 12% |

----

|                                                                    |
|--------------------------------------------------------------------|
|                                                                    |  |  |  |  |  |  |  |  |
| 2017 Estimated Revenue on a Constant Currency Basis Reconciliation |   | Full Year 2017 (Estimated) (Consolidated) | Full Year 2017 (Estimated) (Calvin Klein) | Full Year 2017 (Estimated) (Tommy Hilfiger) |   | Third Quarter 2017 (Estimated) (Consolidated) | Third Quarter 2017 (Estimated) (Calvin Klein) | Third Quarter 2017 (Estimated) (Tommy Hilfiger) |
|                                                               |   |   |   |   |   |   |   |   |
| GAAP revenue increase                                              |   | 6% | 8% | 6% |   | 4% | 5% | 8% |
| Positive impact of foreign exchange                                |   | 1% | 1% | 1% |   | 1% | 1% | 1% |
| Non-GAAP revenue increase on a constant currency basis             |   | 5% | 7% | 5% |   | 3% | 4% | 7% |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                |   | Full Year 2016 |   | Third Quarter 2016 |
|                                | (Actual) |   | (Actual) |
|                                | Results Under GAAP |   | Adjustments | (1)  | Non-GAAP Results |   | Results Under GAAP |   | Adjustments | (2)  | Non-GAAP Results |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                          |   | $ | 549.0 |  |   | $ | (1.1 | ) |   | $ | 550.1 |  |   | $ | 126.2 |  |   | $ | (83.6 | ) |   | $ | 209.8 |  |
| Total weighted average shares       |   | 80.9 |  |   |   |   | 80.9 |  |   | 80.7 |  |   |   |   | 80.7 |  |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share |   | $ | 6.79 |  |   |   |   | $ | 6.80 |  |   | $ | 1.56 |  |   |   |   | $ | 2.60 |  |

----