|                      | PVH CORP.                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      | ASSOCIATES INVESTMENT PLAN                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| Date:  June 28, 2016 | By/s/ Dana Perlman                                                                           |
|                      | Dana Perlman                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                      | Member of Plan Committee                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

----

----

|                                                          | Page   |
|---------------------------------------------------------------|--------|
| Report of Independent Registered Public Accounting Firm       | 1      |
| Financial Statements                                          |   |
| Statements of Net Assets Available for Benefits               | 3      |
| Statement of Changes in Net Assets Available for Benefits     | 4      |
| Notes to Financial Statements                                 | 5      |
| Supplemental Schedule                                         |   |
| Schedule H, Line 4i--Schedule of Assets (Held at End of Year) | 14     |
|                                                          |   |

----

----

----

|                                                | 2015                                                                                                                         |   | 2014                                                                                                                        |
|-----------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------|
| Assets                                              |                                                                                                                         |   |                                                                                                                        |
|                                                |                                                                                                                         |   |                                                                                                                        |
| Cash                                                | $       370,638                                                                                     |   | $    1,418,011                                                                                               |
| Participant-directed investments, at fair value     | 480,468,368                                                                                                             |   | 510,906,884                                                                                                            |
| Participant-directed investments, at contract value | 767,653                                                                                                                 |   | 1,722,922                                                                                                              |
| Receivables:                                        |                                                                                                                         |   |                                                                                                                        |
| Notes from participants                             | 10,386,200                                                                                                              |   | 9,458,633                                                                                                              |
| Contributions, employer                             | 351,479                                                                                                                 |   | -                                                                                                            |
| Contributions, employee                             |           763,188                                                     |   |                  -      |
|                                                |                                                                                                                         |   |                                                                                                                        |
| Total receivables                                   |      11,500,867                                                                                |   |        9,458,633                                                                    |
|                                                |                                                                                                                         |   |                                                                                                                        |
| Total assets                                        |    493,107,526                                                                                           |   |    523,506,450                                                                                          |
|                                                |                                                                                                                         |   |                                                                                                                        |
| Liabilities                                         |                                                                                                                         |   |                                                                                                                        |
|                                                |                                                                                                                         |   |                                                                                                                        |
| Total liabilities                                   |               -          |   |               -              |
|                                                |                                                                                                                         |   |                                                                                                                        |
| Net assets available for benefits                   | $ 493,107,526                                                                                                           |   | $523,506,450                                                                                                           |

----

| Additions                                                           |                                          |
|---------------------------------------------------------------------|-----------------------------------------------|
|                                                                |                                          |
| Investment income:                                                  |                                          |
|       Net depreciation of investments | $ (48,075,238)                                |
|       Dividend income                 |    19,961,840             |
|    Total investment income                           | (28,113,398)                             |
|                                                                |                                          |
| Interest income on notes receivable from participants               | 398,471                                  |
|                                                                |                                          |
| Contributions:                                                      |                                          |
|    Employer, net of forfeitures                      | 12,638,244                               |
|    Participants                                      | 29,978,448                               |
|    Rollovers                                         |      2,295,278  |
| Total contributions                                                 | 44,911,970                               |
|                                                                |                                          |
| Total additions                                                     | 17,197,043                               |
|                                                                |                                          |
| Deductions                                                          |                                          |
|                                                                |                                          |
| Payments to participants                                            |     47,595,967       |
|                                                                |                                          |
| Total deductions                                                    |     47,595,967       |
|                                                                |                                          |
| Net decrease in net assets available for benefits                   | (30,398,924)                             |
|                                                                |                                          |
| Net assets available for benefits at beginning of year              |   523,506,450                  |
|                                                                |                                          |
| Net assets available for benefits at end of year                    | $493,107,526                             |

----

----

----

----

----

----

|                                     |   |                               | Fair Value Measurements at |
|------------------------------------------|--------|------------------------------------|----------------------------|
|                                     |   |                               | December 31, 2015          |
| Asset Category                           |   | Total                              |                       | Quoted PricesIn ActiveMarkets forIdentical Assets(Level 1) |   | SignificantObservableInputs(Level 2) |   | SignificantUnobservableInputs(Level 3) |
|                                     |   |                               |                       |   |   |   |   |   |
| Common collective trust funds:(1)        |   |                               |                       |   |   |   |   |   |
| Stable value                             |   | $  59,314,542            |                       | $             -         |   | $ 59,314,542  |   | $           -          |
| Mutual funds(2)                          |   | 385,820,828                   |                       | 385,820,828  |   | -         |   |   |
| PVH Corp. common stock(3)                |   |    35,332,998  |                       |     35,332,998  |   |              -         |   |              -          |
|                                     |   |                               |                       |   |   |   |   |   |
| Total investments measured at fair value |   | $480,468,368                  |                       | $421,153,826  |   | $ 59,314,542  |   | $            -         |
|                                     |   |                                     | Fair Value Measurements at |
|------------------------------------------|--------|------------------------------------------|----------------------------|
|                                     |   |                                     | December 31, 2014          |
| Asset Category                           |   | Total                                    |                       | Quoted PricesIn ActiveMarkets forIdentical Assets(Level 1) |   | SignificantObservableInputs(Level 2) |   | SignificantUnobservableInputs(Level 3) |
|                                     |   |                                     |                       |   |   |   |   |   |
| Common collective trust funds:(1)        |   |                                     |                       |   |   |   |   |   |
| Stable value                             |   | $  56,650,995                  |                       | $             -         |   | $ 56,650,995  |   | $           -          |
| Mutual funds:(2)                         |   | 387,438,048                         |                       | 387,438,048  |   | -         |   | -          |
| PVH Corp. common stock(3)                |   |     66,817,841  |                       |     66,817,841  |   |              -         |   |              -          |
|                                     |   |                                     |                       |   |   |   |   |   |
| Total investments measured at fair value |   | $510,906,884                        |                       | $454,255,889  |   | $ 56,650,995  |   | $          -          |

|  (1) | Valued at the net asset value of the fund(s), as determined by a pricing vendor or the fund family.  The Plan has no unfunded commitments related to these common collective trust funds.  These funds invest in (a) guarantee contracts and instruments and (b) securities that make up the S&P 500 Index in the same proportion as the index. These funds are redeemable on a daily basis without restriction. |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) |  Valued at the net asset value of the fund(s), as determined by the closing price in the active market in which the individual fund is traded. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Valued at the closing price of PVH Corp. common stock as determined by the closing price in the active market in which the securities are traded. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                      |   | 2015                                                                                                |   | 2014                                                          |
|-----------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------|
| Net assets available for benefits per the financial       |   |                                                                                                |   |
|    statements                              |   | $493,107,526                                                                                   |   | $523,506,450                                             |
| Amounts allocated to withdrawing participants             |   |        (315,933)                                            |   |        (12,904)            |
| Adjustment from fair value to contract value for          |   |                                                                                                |   |                                                          |
|   fully benefit-responsive investment contracts |   |               -          |   |          146,175 |
|                                                      |   |                                                                                                |   |                                                          |
| Net assets available for benefits per the Form 5500       |   | $492,791,593                                                                              |   | $523,639,721                                             |
|                                                       |   | 2015                                               |
|------------------------------------------------------------|--------|----------------------------------------------------|
|                                                       |   |                                               |
| Benefits paid to participants per the financial statements |   | $47,595,967                                   |
| Add: Amounts allocated to withdrawing participants at      |   |                                               |
|   December 31, 2015                              |   | 315,933                                  |
| Less: Amount allocated to withdrawing participants at      |   |                                               |
|   December 31, 2014                              |   |        (12,904) |
| Benefits paid to participants per the Form 5500            |   | $47,898,996                                   |

----

----

|   |                          |                                                                   |   |                               |
|--------|-------------------------------|------------------------------------------------------------------------|--------|------------------------------------|
|   |                          | (c)                                                                    |   |                               |
|   | (b)                           | Description of investment                                              |   | (e)                                |
| (a)    | Identity of issuer, borrower, | including maturity date, rate of                                       | (d)    | Current                            |
|   | lessor or similar party       | interest, collateral, par or maturity value                            | Cost   | value                              |
|   | American Beacon Funds         | American Beacon Large Cap Value Fund;                                  |   |                               |   |
|   |                          | 1,727,030.859 shares                                                   | **     | $39,618,088                        |   |
|   | Dimensional Fund Advisors     | DFA U.S. Targeted Value Portfolio                                      |   |                               |   |
|   |                          | Institutional; 1,193,495.388 shares                                    | **     | 23,571,534                         |   |
|   | American Funds                | Europacific Growth Fund R5;                                            |   |                               |   |
|   |                          | 791,725.357 shares                                                     | **     | 35,841,407                         |   |
|   | Fidelity Funds                | Fidelity Balanced Fund;                                                |   |                               |   |
|   |                          | 2,057,651.270 shares                                                   | **     | 43,663,360                         |   |
|   | Hartford Funds                | Hartford HLS Small Cap Growth Fund IB;                                 |   |                               |   |
|   |                          | 865,297.615 shares                                                     | **     | 21,095,956                         |   |
|   | Lazard Funds                  | Lazard Funds Emerging Markets Portfolio                                |   |                               |   |
|   |                          | Institutional; 638,581.603 shares                                      | **     | 8,582,537                          |   |
|   | Metropolitan West             | Metropolitan West Total Return Bond M                                  |   |                               |   |
|   |                          | Fund; 3,466,242.346 shares                                             | **     | 36,811,493                         |   |
|   | Prudential                    | Jennison Mid Cap Growth Z; 226,152.748                                 |   |                               |   |
|   |                          | shares                                                                 | **     | 8,123,407                          |   |
|   | T. Rowe Price                 | Blue Chip Growth; 660,309.038 shares                                   | **     | 47,793,168                         |   |
|   | Vanguard                      | Institutional Index Fund; 391,978.193 shares                           | **     | 73,150,970                         |   |
|   | Vanguard                      | Total Bond Market Index Institutional;                                 |   |                               |   |
|   |                          | 2,001,270.289 shares                                                   |   | 21,293,516                         |   |
|   | Vanguard                      | Total Bond Market Index Admiral;                                       |   |                               |   |
|   |                          | 0.579 shares                                                           | **     | 6                                  |   |
|   | Vanguard                      | Total International Stock Index Institutional;                         |   |                               |   |
|   |                          | 186,667.237 shares                                                     | **     | 18,095,522                         |   |
|   | Virtus Mutual Funds           | Virtus Real Estate Securities Fund I;                                  |   |                               |   |
|   |                          | 240,160.424 shares                                                     | **     | 8,179,864                          |   |
|   | Wells Fargo Funds             | Wells Fargo Stable Value Class U;                                      |   |                               |   |
|   |                          | 1,204,111.689 shares                                                   | **     | 59,314,542                         |   |
| *      | PVH Corp.                     | PVH Corp. Common Stock;                                                |   |                               |   |
|   |                          | 479,742.000 shares                                                     | **     |     35,332,998 |   |
|   |                          |                                                                   |   |                               |   |
|   |                          | Total investments, at fair value                                       |   | $480,468,368                       |   |
|   | Metlife                       | Metlife, Inc. Guaranteed Investment Contract; 156,394.297 shares  | **     | 767,653                            |   |
| *      | Notes receivable from         | Participant notes receivable maturing at                               |   |                               |   |
|   |   participants      | various dates through 2030 and bearing                                 |   |                               |   |
|   |                          | interest at rates from 4.25% to 9.25%                                  | **     | $ 10,386,200                  |   |

----

| Exhibit No. |
|-------------|
|        |
| 23.1        | Consent of Independent Auditors |