|         |                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------|
| • | FIRST QUARTER REVENUE OF $1.427 BILLION AND NON-GAAP EPS OF $1.30 EXCEED GUIDANCE; GAAP EPS OF $1.27 |

|         |                                                                                    |
|---------|------------------------------------------------------------------------------------|
| • | RESULTS DRIVEN BY CONTINUED MOMENTUM IN CALVIN KLEIN AND TOMMY HILFIGER BUSINESSES |

|         |                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------|
| • | FULL-YEAR NON-GAAP EPS GUIDANCE RAISED TO $6.15 TO $6.25, AN INCREASE OF 14% TO 16% OVER THE PRIOR YEAR’S NON-GAAP EPS |

|         |                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------|
| • | SECOND QUARTER NON-GAAP EPS GUIDANCE OF $1.18 TO $1.20, AN INCREASE OF 10% TO 12% OVER THE PRIOR YEAR’S NON-GAAP EPS |

|         |                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Earnings per share was $1.30 on a non-GAAP basis, which exceeded the Company’s guidance and represents an increase of 6% over the prior year’s first quarter non-GAAP earnings per share of $1.23. |

|         |                                                                                    |
|---------|------------------------------------------------------------------------------------|
| • | GAAP earnings per share was $1.27 and represents an increase of 61% over the prior |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Revenue of $1.427 billion increased 4% from the prior year’s first quarter, including the negative impact of approximately 1% attributable to approximately $20 million of foreign currency translation. The revenue increase of $58.2 million is attributable to the net effect of (i) an increase of $54.9 million, or 8%, in the Company’s Tommy Hilfiger business (which includes the negative impact of approximately 3% attributable to the foreign currency translation discussed above); (ii) an increase of $16.5 million, or 7%, in the Company’s Calvin Klein business; and (iii) a decrease of $13.2 million, or 3%, in the Company’s Heritage Brands business. |

----

----

----

----

----

|         |                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $69.5 million incurred in 2011 in connection with the integration of Tommy Hilfiger and the related restructuring, of which $30.5 million was incurred in |

----

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

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of $8.1 million incurred in 2011 in connection with the Company’s negotiated early termination of its license to market sportswear under the Timberland brand and the Company’s 2012 exit from the Izod women’s wholesale sportswear business, of which $6.7 million was incurred in the second quarter, $0.5 million was incurred in the third quarter and $1.0 million was incurred in the fourth quarter. |

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

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

|         |                                                                                                                                                                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pre-tax costs of approximately $25 million expected to be incurred in 2012 principally in connection with the integration of Tommy Hilfiger and the related restructuring, of which $3.3 million was incurred in the first quarter and approximately $10 million is expected to be incurred in the second quarter. |

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

----

----

----

----

----

----

----

----

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |  |  |  |  |  |  |
|                                                   |   |   |   |   |   |   |
|                                                   |   | Quarter Ended |   |   |
|                                                   |   | 4/29/12 |   | 5/1/11 |   |   |
|                                                   |   |   |   |   |   |   |
| Net sales                                              |   | $ | 1,312,849 |  |   | $ | 1,256,986 |  |   |   |
| Royalty revenue                                        |   | 85,460 |  |   | 81,992 |  |   |   |
| Advertising and other revenue                          |   | 29,097 |  |   | 30,206 |  |   |   |
| Total revenue                                          |   | $ | 1,427,406 |  |   | $ | 1,369,184 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Gross profit on net sales                              |   | $ | 642,272 |  |   | $ | 616,381 |  |   |   |
| Gross profit on royalty, advertising and other revenue |   | 114,557 |  |   | 112,198 |  |   |   |
| Total gross profit                                     |   | 756,829 |  |   | 728,579 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Selling, general and administrative expenses           |   | 606,505 |  |   | 591,902 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Debt modification costs                                |   |  |  |   | 16,233 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Equity in income of unconsolidated affiliates          |   | 1,924 |  |   |  |   |   |
|                                                   |   |   |   |   |   |   |
| Earnings before interest and taxes                     |   | 152,248 |  |   | 120,444 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Interest expense, net                                  |   | 29,244 |  |   | 33,070 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Pre-tax income                                         |   | 123,004 |  |   | 87,374 |  |   |   |
|                                                   |   |  |  |   |   |   |   |
| Income tax expense                                     |   | 29,890 |  |   | 29,707 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Net income                                             |   | $ | 93,114 |  |   | $ | 57,667 |  |   |   |
|                                                   |   |   |   |   |   |   |
| Diluted net income per common share(1)                 |   | $ | 1.27 |  |   | $ | 0.79 |  |   |   |
|                                                   |   |   |   |   |   |   |
|                                                   |   | Quarter Ended |   |   |
|                                                   |   | 4/29/12 |   | 5/1/11 |   |   |
|                                                   |   |   |   |   |   |   |
| Depreciation and amortization expense                  |   | $ | 33,459 |  |   | $ | 34,481 |  |   |   |
|                                                   |   |   |   |   |   |

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

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |
|                                            |   |   |   |   |   |   |
|                                            |   | Quarter Ended |   |   |
|                                            |   | 4/29/12 |   | 5/1/11 |   |   |
|                                            |   |   |   |   |   |   |
| GAAP total revenue                              |   | $ | 1,427,406 |  |   | $ | 1,369,184 |  |   |   |
|                                            |   |   |   |   |   |   |
| Non-GAAP Measures                               |   |   |   |   |   |   |
| Selling, general and administrative expenses(1) |   | $ | 603,189 |  |   | $ | 561,443 |  |   |   |
| Earnings before interest and taxes(2)           |   | 155,564 |  |   | 167,136 |  |   |   |
| Income tax expense(3)                           |   | 30,822 |  |   | 44,510 |  |   |   |
| Net income(4)                                   |   | 95,498 |  |   | 89,556 |  |   |   |
| Diluted net income per common share(5)          |   | $ | 1.30 |  |   | $ | 1.23 |  |   |   |
|                                            |   |   |   |

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

----

|                                                                                                                                             |
|---------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                             |  |  |  |  |  |  |  |  |  |  |
| Table 1 - Reconciliation of GAAP net income to non-GAAP net income                                                                          |
|                                                                                                                                        |   |   |   |   |   |   |
|                                                                                                                                        |   | Quarter Ended |   |   |
|                                                                                                                                        |   | 4/29/12 |   | 5/1/11 |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Net income                                                                                                                                  |   | $ | 93,114 |  |   | $ | 57,667 |  |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Diluted net income per common share(1)                                                                                                      |   | $ | 1.27 |  |   | $ | 0.79 |  |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Items excluded:                                                                                                                             |   |   |   |   |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| SG&A expenses associated with Tommy Hilfiger integration and related restructuring                                                      |   | 3,316 |  |   | 30,459 |  |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Debt modification costs                                                                                                                     |   |  |   | 16,233 |  |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Tax effect of the items above(2)                                                                                                            |   | (932 | ) |   | (14,803 | ) |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Non-GAAP net income                                                                                                                         |   | $ | 95,498 |  |   | $ | 89,556 |  |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Non-GAAP diluted net income per common share(1)                                                                                             |   | $ | 1.30 |  |   | $ | 1.23 |  |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| (1)   Please see Note A in the Notes to the Consolidated GAAP Income Statements for reconciliations of diluted net income per common share. |
| (2)   Please see Table 4 for an explanation of the calculation of the tax effects of the above items.                                       |

|                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |  |  |  |  |  |  |  |  |  |  |
| Table 2 - Reconciliation of GAAP earnings before interest and taxes to non-GAAP earnings before interest and taxes |
|                                                                                                               |   |   |   |   |   |   |
|                                                                                                               |   | Quarter Ended |   |   |
|                                                                                                               |   | 4/29/12 |   | 5/1/11 |   |   |
|                                                                                                               |   |   |   |   |   |   |
| Earnings before interest and taxes                                                                                 |   | $ | 152,248 |  |   | $ | 120,444 |  |   |   |
|                                                                                                               |   |   |   |   |   |   |
| Items excluded:                                                                                                    |   |   |   |   |   |   |
|                                                                                                               |   |   |   |   |   |   |
| SG&A expenses associated with Tommy Hilfiger integration and related restructuring                             |   | 3,316 |  |   | 30,459 |  |   |   |
|                                                                                                               |   |   |   |   |   |   |
| Debt modification costs                                                                                            |   |  |   | 16,233 |  |   |   |
|                                                                                                               |   |   |   |   |   |   |
| Non-GAAP earnings before interest and taxes                                                                        |   | $ | 155,564 |  |   | $ | 167,136 |  |   |   |
|                                                                                                               |   |   |   |   |   |   |

----

|                                                                                        |
|----------------------------------------------------------------------------------------|
|                                                                                        |  |  |  |  |  |  |  |  |  |  |
| Table 3 - Reconciliation of GAAP SG&A to non-GAAP SG&A                         |
|                                                                                   |   |   |   |   |   |   |
|                                                                                   |   | Quarter Ended |   |   |
|                                                                                   |   | 4/29/12 |   | 5/1/11 |   |   |
|                                                                                   |   |   |   |   |   |   |
| SG&A                                                                               |   | $ | 606,505 |  |   | $ | 591,902 |  |   |   |
|                                                                                   |   |   |   |   |   |   |
| Items excluded:                                                                        |   |   |   |   |   |   |
|                                                                                   |   |   |   |   |   |   |
| SG&A expenses associated with Tommy Hilfiger integration and related restructuring |   | (3,316 | ) |   | (30,459 | ) |   |   |
|                                                                                   |   |   |   |   |   |   |
| Non-GAAP SG&A                                                                      |   | $ | 603,189 |  |   | $ | 561,443 |  |   |   |
|                                                                                   |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  |  |  |  |  |  |  |  |  |  |
| Table 4 - Reconciliation of GAAP income tax expense to non-GAAP income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Quarter Ended |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 4/29/12 |   | 5/1/11 |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |
| Income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $ | 29,890 |  |   | $ | 29,707 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |
| Items excluded:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |
| Income tax effect of integration, restructuring and debt modification costs (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 932 |  |   | 14,803 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |
| Non-GAAP income tax expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $ | 30,822 |  |   | $ | 44,510 |  |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |
| (1) The estimated tax effects of the Company’s integration, restructuring and debt modification costs are based on the Company’s assessment of deductibility. In making this assessment, the Company evaluated each item that it has recorded as an integration, restructuring and debt modification cost to determine if such cost is tax deductible, and if so, in what jurisdiction the deduction would occur. All of the Company’s integration, restructuring and debt modification costs were identified as either primarily tax deductible in the United States, in which case the Company assumed a combined federal and state tax rate of 38.0%, or as non-deductible, in which case the Company assumed no tax benefit. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |

----

|                                                                           |
|---------------------------------------------------------------------------|
|                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                      |   | Quarter Ended |   |   |   | Quarter Ended |
|                                                                      |   | 4/29/12 |   |   |   | 5/1/11 |
|                                                                      |   | GAAP |   |   |   | Non-GAAP |   |   |   | GAAP |   |   |   | Non-GAAP |   |
|                                                                      |   | Results |   | Adjustments |   | Results |   |   |   | Results |   | Adjustments |   | Results |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                |   | $ | 93,114 |  |   | $ | (2,384 | ) | (1)  | $ | 95,498 |  |   |   |   | $ | 57,667 |  |   | $ | (31,889 | ) | (2)  | $ | 89,556 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                            |   | 68,539 |  |   |   |   | 68,539 |  |   |   |   | 66,798 |  |   |   |   | 66,798 |  |   |
| Weighted average dilutive securities                                      |   | 1,588 |  |   |   |   | 1,588 |  |   |   |   | 1,605 |  |   |   |   | 1,605 |  |   |
| Weighted average impact of assumed convertible preferred stock conversion |   | 3,475 |  |   |   |   | 3,475 |  |   |   |   | 4,189 |  |   |   |   | 4,189 |  |   |
| Total shares                                                              |   | 73,602 |  |   |   |   | 73,602 |  |   |   |   | 72,592 |  |   |   |   | 72,592 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share                                       |   | $ | 1.27 |  |   |   |   | $ | 1.30 |  |   |   |   | $ | 0.79 |  |   |   |   | $ | 1.23 |  |   |
|                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Represents the impact on net income in the quarter ended May 1, 2011 from the elimination of (i) the costs incurred in connection with the Company’s integration of Tommy Hilfiger and related restructuring; (ii) the costs incurred in connection with the Company’s modification of its credit facility; and (iii) the tax effects associated with these costs. Please see Table 1 for a reconciliation of GAAP net income to non-GAAP net income. |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |
|                                       | April 29, |   | May 1, |
|                                       | 2012 |   | 2011 |
| ASSETS                                     |   |   |   |
| Current Assets:                            |   |   |   |
| Cash and Cash Equivalents                  | $ | 238,612 |  |   | $ | 294,958 |  |
| Receivables                                | 544,174 |  |   | 512,185 |  |
| Inventories                                | 735,848 |  |   | 690,537 |  |
| Other Current Assets                       | 209,319 |  |   | 173,225 |  |
| Total Current Assets                       | 1,727,953 |  |   | 1,670,905 |  |
| Property, Plant and Equipment              | 479,486 |  |   | 418,224 |  |
| Goodwill and Other Intangible Assets       | 4,406,826 |  |   | 4,628,070 |  |
| Other Assets                               | 166,132 |  |   | 137,219 |  |
|                                       | $ | 6,780,397 |  |   | $ | 6,854,418 |  |
|                                       |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |   |   |   |
| Accounts Payable and Accrued Expenses      | $ | 795,023 |  |   | $ | 803,467 |  |
| Short-Term Borrowings                      | 107,393 |  |   | 12,277 |  |
| Current Portion of Long-Term Debt          | 79,477 |  |   | 46,298 |  |
| Other Liabilities                          | 1,174,333 |  |   | 1,113,196 |  |
| Long-Term Debt                             | 1,794,862 |  |   | 2,208,191 |  |
| Stockholders’ Equity                 | 2,829,309 |  |   | 2,670,989 |  |
|                                       | $ | 6,780,397 |  |   | $ | 6,854,418 |  |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                  |   |   |   |   |   |   |   |
| Segment Data                               |   |   |   |   |   |   |   |
| (In thousands)                             |   |   |   |   |   |   |   |
|                                       |   |   |   |   |   |   |   |
| REVENUE BY SEGMENT                         |   |   |   |   |   |   |   |
|                                       |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                                       |   | 4/29/12 |   |   |   | 5/1/11 |   |
| Heritage Brand Wholesale Dress Furnishings |   |   |   |   |   |   |   |
| Net sales                                  |   | $ | 119,886 |  |   |   |   | $ | 134,689 |  |   |
| Royalty revenue                            |   | 1,517 |  |   |   |   | 1,485 |  |   |
| Advertising and other revenue              |   | 707 |  |   |   |   | 404 |  |   |
| Total                                      |   | 122,110 |  |   |   |   | 136,578 |  |   |
|                                       |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Sportswear        |   |   |   |   |   |   |   |
| Net sales                                  |   | 134,232 |  |   |   |   | 135,454 |  |   |
| Royalty revenue                            |   | 2,463 |  |   |   |   | 2,441 |  |   |
| Advertising and other revenue              |   | 461 |  |   |   |   | 406 |  |   |
| Total                                      |   | 137,156 |  |   |   |   | 138,301 |  |   |
|                                       |   |   |   |   |   |   |   |
| Heritage Brand Retail                      |   |   |   |   |   |   |   |
| Net sales                                  |   | 134,182 |  |   |   |   | 131,677 |  |   |
| Royalty revenue                            |   | 1,203 |  |   |   |   | 1,298 |  |   |
| Advertising and other revenue              |   | 271 |  |   |   |   | 241 |  |   |
| Total                                      |   | 135,656 |  |   |   |   | 133,216 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Heritage Brands                      |   |   |   |   |   |   |   |
| Net sales                                  |   | 388,300 |  |   |   |   | 401,820 |  |   |
| Royalty revenue                            |   | 5,183 |  |   |   |   | 5,224 |  |   |
| Advertising and other revenue              |   | 1,439 |  |   |   |   | 1,051 |  |   |
| Total                                      |   | 394,922 |  |   |   |   | 408,095 |  |   |
|                                       |   |   |   |   |   |   |   |
| Other (Calvin Klein Apparel)               |   |   |   |   |   |   |   |
| Net sales                                  |   | 163,475 |  |   |   |   | 146,431 |  |   |
| Total                                      |   | 163,475 |  |   |   |   | 146,431 |  |   |
|                                       |   |   |   |   |   |   |   |
| Calvin Klein Licensing                     |   |   |   |   |   |   |   |
| Net sales                                  |   | 8,244 |  |   |   |   | 7,442 |  |   |
| Royalty revenue                            |   | 65,473 |  |   |   |   | 64,884 |  |   |
| Advertising and other revenue              |   | 24,927 |  |   |   |   | 26,889 |  |   |
| Total                                      |   | 98,644 |  |   |   |   | 99,215 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Calvin Klein                         |   |   |   |   |   |   |   |
| Net sales                                  |   | 171,719 |  |   |   |   | 153,873 |  |   |
| Royalty revenue                            |   | 65,473 |  |   |   |   | 64,884 |  |   |
| Advertising and other revenue              |   | 24,927 |  |   |   |   | 26,889 |  |   |
| Total                                      |   | 262,119 |  |   |   |   | 245,646 |  |   |
|                                       |   |   |   |   |   |   |   |
| Tommy Hilfiger North America               |   |   |   |   |   |   |   |
| Net sales                                  |   | 298,980 |  |   |   |   | 267,637 |  |   |
| Royalty revenue                            |   | 4,524 |  |   |   |   | 2,861 |  |   |
| Advertising and other revenue              |   | 1,687 |  |   |   |   | 1,286 |  |   |
| Total                                      |   | 305,191 |  |   |   |   | 271,784 |  |   |
|                                       |   |   |   |   |   |   |   |
| Tommy Hilfiger International               |   |   |   |   |   |   |   |
| Net sales                                  |   | 453,850 |  |   |   |   | 433,656 |  |   |
| Royalty revenue                            |   | 10,280 |  |   |   |   | 9,023 |  |   |
| Advertising and other revenue              |   | 1,044 |  |   |   |   | 980 |  |   |
| Total                                      |   | 465,174 |  |   |   |   | 443,659 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                       |   |   |   |   |   |   |   |
| Net sales                                  |   | 752,830 |  |   |   |   | 701,293 |  |   |
| Royalty revenue                            |   | 14,804 |  |   |   |   | 11,884 |  |   |
| Advertising and other revenue              |   | 2,731 |  |   |   |   | 2,266 |  |   |
| Total                                      |   | 770,365 |  |   |   |   | 715,443 |  |   |
|                                       |   |   |   |   |   |   |   |
| Total Revenue                              |   |   |   |   |   |   |   |
| Net sales                                  |   | 1,312,849 |  |   |   |   | 1,256,986 |  |   |
| Royalty revenue                            |   | 85,460 |  |   |   |   | 81,992 |  |   |
| Advertising and other revenue              |   | 29,097 |  |   |   |   | 30,206 |  |   |
| Total                                      |   | $ | 1,427,406 |  |   |   |   | $ | 1,369,184 |  |   |
|                                       |   |   |   |   |   |   |   |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| PVH CORP.                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Segment Data (continued)                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In thousands)                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS BEFORE INTEREST AND TAXES BY SEGMENT |   |   |   |   |
|                                          |   |   |   |   |   |   |   |
|                                          |   | Quarter Ended |   |   |   | Quarter Ended |   |
|                                          |   | 4/29/12 |   |   |   | 5/1/11 |   |
|                                          |   | Results |   |   |   |   |   |   |   | Results |   |   |   |   |   |
|                                          |   | Under |   |   |   | Non-GAAP |   |   |   | Under |   |   |   | Non-GAAP |   |
|                                          |   | GAAP |   | Adjustments(1) |   | Results |   |   |   | GAAP(3) |   | Adjustments(2) |   | Results(3) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Dress Furnishings    |   | $ | 8,916 |  |   |  |  |   | $ | 8,916 |  |   |   |   | $ | 20,651 |  |   |  |  |   | $ | 20,651 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Wholesale Sportswear           |   | 11,370 |  |   |  |  |   | 11,370 |  |   |   |   | 14,271 |  |   |  |  |   | 14,271 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Heritage Brand Retail                         |   | (2,544 | ) |   |  |  |   | (2,544 | ) |   |   |   | 4,501 |  |   |  |   | 4,501 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Heritage Brands                         |   | 17,742 |  |   |   |   | 17,742 |  |   |   |   | 39,423 |  |   |  |  |   | 39,423 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other (Calvin Klein Apparel)                  |   | 17,598 |  |   |  |  |   | 17,598 |  |   |   |   | 20,943 |  |   |  |  |   | 20,943 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Calvin Klein Licensing                        |   | 40,744 |  |   |  |  |   | 40,744 |  |   |   |   | 34,650 |  |   |  |   | 34,650 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Calvin Klein                            |   | 58,342 |  |   |  |  |   | 58,342 |  |   |   |   | 55,593 |  |   |  |  |   | 55,593 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger North America                  |   | 28,934 |  |   | $ | (379 | ) |   | 29,313 |  |   |   |   | (12,211 | ) |   | $ | (23,491 | ) |   | 11,280 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tommy Hilfiger International                  |   | 73,480 |  |   |  |  |   | 73,480 |  |   |   |   | 78,982 |  |   | (448 | ) |   | 79,430 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Tommy Hilfiger                          |   | 102,414 |  |   | (379 | ) |   | 102,793 |  |   |   |   | 66,771 |  |   | (23,939 | ) |   | 90,710 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                                     |   | (26,250 | ) |   | (2,937 | ) |   | (23,313 | ) |   |   |   | (41,343 | ) |   | (22,753 | ) |   | (18,590 | ) |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total earnings before interest and taxes      |   | $ | 152,248 |  |   | $ | (3,316 | ) |   | $ | 155,564 |  |   |   |   | $ | 120,444 |  |   | $ | (46,692 | ) |   | $ | 167,136 |  |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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

|           |                                                                                                                                                                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Adjustments for the quarter ended May 1, 2011 represent the elimination of the costs incurred in connection with the Company’s (i) integration of Tommy Hilfiger and the related restructuring; and (ii) modification of its credit facility. |

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

----

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |
| 2012 Net Income Per Common Share Reconciliations                                    |   | Full Year2012(Estimated) |   | Second Quarter2012(Estimated) |   |
|                                                                                |   |   |   |   |   |
| GAAP net income per common share                                                    |   | $5.90 - $6.00 |   | $1.08 - $1.10 |   |
| Estimated per common share impact of after tax integration and restructuring costs  |   | $0.25 |   | $0.10 |   |
| Net income per common share excluding impact of integration and restructuring costs |   | $6.15 - $6.25 |   | $1.18 - $1.20 |   |

|                                                                                                                                                    |
|----------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                    |  |  |  |  |  |
| Reconciliation of Net Income Per Common Share Impact of Tax Rate Changes                                                                           |   | Full Year2012(Estimated) |   |   |   |
|                                                                                                                                               |   |   |   |   |   |
| 2012 net income per common share increase due to change in tax rate on a GAAP basis (midpoint of estimate of 23.75% in 2012 vs. 26.3% in 2011)     |   | $0.20 |   |   |   |
| Adjustment for difference in 2011 GAAP and non-GAAP tax rates                                                                                      |   | $0.15 |   |   |   |
| 2012 net income per common share increase due to change in tax rate on a non-GAAP basis (midpoint of estimate of 23.75% in 2012 vs. 28.2% in 2011) |   | $0.35 |   |   |   |

----

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                |   | Full Year 2011 |   | Second Quarter 2011 |
|                                | (Actual) |   | (Actual) |
|                                | Results Under GAAP |   | Adjustments |   | Non-GAAP Results |   | Results Under GAAP |   | Adjustments |   | Non-GAAP Results |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                          |   | $ | 317.9 |  |   | $ | (74.3 | ) | (1)  | $ | 392.2 |  |   | $ | 66.7 |  |   | $ | (11.6 | ) | (2)  | $ | 78.3 |  |
| Total weighted average shares       |   | 72.9 |  |   |   |   | 72.9 |  |   | 72.9 |  |   |   |   | 72.9 |  |
|                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted net income per common share |   | $ | 4.36 |  |   |   |   | $ | 5.38 |  |   | $ | 0.92 |  |   |   |   | $ | 1.07 |  |