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We are PVH, One of the Worlds Largest Branded Lifestyle and Apparel Companies
We Grow Powerful Global Lifestyle Brands
PVH ANALYST DAY
October 2, 2012
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Safe Harbor
We obtained or created the market and competitive position data used throughout this presentation from research, surveys or
studies conducted by third parties, information provided by customers, and industry or general publications. Industry publications
and surveys generally state that they have obtained information from sources believed to be reliable but do not guarantee the
accuracy and completeness of such information. While we believe that each of these studies and publications and the other
information we receive or review is reliable, we have not independently verified such data and we do not make any
representation as to the accuracy of such information.
The information in our presentation contains certain forward-looking statements which reflect our view as of October 2, 2012 of
future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties indicated
from time to time in our SEC filings. Our future results of operations could differ materially from historical results or current
expectations, as more fully discussed in our safe harbor statements found in our SEC filings. We do not undertake any obligation
to update publicly any forward-looking statement, including, without limitation, any estimate regarding revenue or earnings,
whether as a result of the receipt of new information, future events or otherwise.
This presentation also includes non-GAAP financial measures, as defined under SEC rules. Reconciliations of these measures are
included in our press release of October 2, 2012, our second quarter earnings 2012 press release, which was released on August
27, 2012, and our 2011 year-end earnings press release, which was released on March 27, 2012, all of which are available on our
website at www.pvh.com/investor_relations_press_releases.aspx. Additional reconciliations for years 2003-2009 are available in
our Current Reports on Form 8-K furnished to the SEC on March 17, 2005, March 26, 2007, March 23, 2009 and March 28, 2011.
Each of these reports and our Current Reports on Form 8-K furnished to the SEC in connection with the October 2, 2012, August
27, 2012 and March 27, 2012 press releases are available on our website at www.pvh.comand the SECs website at
www.sec.gov.
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Emanuel Chirico
Chairman & Chief Executive Officer
PVH Corp.
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PVH: Perspectives on Our Accomplishments and Outlook Manny Chirico
Calvin Klein: Business & Brand Review Tom Murry
Heritage Brands: Business & Brand Review Ken Duane
Tommy Hilfiger: Business & Brand Review Fred Gehring
Global Brand Overview Fred Gehring
North America Gary Sheinbaum
Europe Daniel Grieder
Germany + Oliver Timm
Rest of World Fred Gehring
The Power of the Brand Avery Baker
Financial Outlook Manny Chirico
Q&A
Agenda
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A World Class Portfolio Of Brands
CHAPS
DKNY
Geoffrey Beene
Hart Schaffner Marx
JOE Joseph Abboud
Kenneth Cole Reaction
Kenneth Cole New York
MICHAEL Michael Kors
Nautica
Sean John
Ike Behar
John Varvatos
*Partial list
Licensed*
Owned*
GLOBALGROWTHBRANDS
I Z O D A R R O W B A S S V A N H E U S E N
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Continued Momentum Across The Business
Revenue & EPS Growth (2003 2012E)
* 2012 figures reflect midpoint of guidance.
*Excludes certain items. Reconciled on Forms 8-K dated 8/ 27/ 12, 3/ 27/12, 3/ 28/11, 3/ 23/ 09, 3/ 26/ 07 and 3/ 17/ 05.
Financial Crisis CK Acquisition Tommy Hilfiger Acquisition
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We Have Driven Significant Returns For Our Stockholders
Since The Calvin Klein Acquisition
RL, +579%
VFC, +345%
PVH, +688%
WRC, +346%
*Data through
Sept. 27, 2012
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12
0
200
400
600
800
1,000
PVH Corp. Coach Inc. Ralph Lauren Corporation VF Corp. Warnaco Group Inc. Jones Group Inc.
COH, +645%
JNY, (60%)
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We Have Delivered Significant Returns Since the Calvin Klein Acquisition
Revenue
Operating Margin
EPS*
Market Cap
Free Cash Flow**
+$4.6 BN or 330%
+710 bps
+$5.27
+$6.2 BN
+$1.4 BN
* 2012 estimate excludes certain items. Reconciled on Form 8-K dated 10/ 2/ 12.
** Free Cash Flow reflects cumulative Free Cash Flow calculated as Cash Flow From Operations less Capex less Mr. Klein Payments less Dividends.
Note: Growth is based off of midpoint of 2012 guidance.

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Our Global Designer Lifestyle Brands Drive Growth
67%
33%
by Business
2009
30%
18%
52%
by Business
2011
Total Revenue
by Business Segment:
TOMMY HILFIGER
CALVIN KLEIN
HERITAGE BRANDS
Operating Profit*
by Business Segment:
42%
58%
2009
17%
37%
46%
2011
by Business
(excludes corporate expenses)
by Business
(excludes corporate expenses)
CK + TH
account for
~70% of
revenues
CK + TH
account for
~ 83% of
operating
profits
* Excludes certain items. Reconciled on Forms 8-K dated
3/ 27/ 12 and 3/ 28/ 11.
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An Increasingly Diversified Business Model
89%
11%
International Mix
2009
60%
40%
International Mix
2011
FOREIGN/ DOMESTIC (US)
68%
32%
2009
46%
54%
2011
International Mix
International Mix
Total Revenue International Mix: Operating Profit International Mix:
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2011 Combined Global Retail Sales: $16.6 BN
As A Diversified Global Leader With Powerful Brands,
We Continue to Expand Our Global Reach
TOMMY
HILFIGER
CALVIN
KLEIN
HERITAGE
BRANDS
20%
26%
14%
35%
49%
84%
45%
25%
EUROPE / NORTH AMERICA / REST OF WORLD
$5.6 BN $7.6 BN $3.4 BN
Brand by Region

Owned and Licensed Brands.

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We Operate Three Distinct Businesses:
Each Positioned for Continued Global Growth
I Z O D A R R O W B A S S V A N H E U S E N
LTM2Q12
2011 Global Retail Sales: ~$7.6 BN
Reported Revenue: $1.1 BN
Operating Profit: $275 MM (25.2%)
LTM2Q12
2011 Global Retail Sales: ~$5.6 BN
Reported Revenue: $3.1 BN
Operating Profit*: $387 MM (12.3%)
LTM2Q12
2011 Global Retail Sales: ~$3.4 BN
Reported Revenue: $1.7 BN
Operating Profit*: $98 MM (5.7%)
*Excludes certain items. Refer to Appendix for GAAP Reconciliations.
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Macroeconomic Environment Continues To Drive Headlines &
Uncertainty In World
CONSUMER
UNEMPLOYMENT
EUROPE
US
European Sovereign Debt Crisis
European Elections Fiscal Austerity
Uncertainty surrounding upcoming 2012 US elections
Impact of differing policies on business, tax and consumer spending
Fiscal cliff & debt crisis facing US
SOURCING
ENVIRONMENT
Raw material costs continue to fall after significant 12 month increase
Labor and other input costs continue to rise as producing countries
become consuming countries
Consumer Confidence: 3 month low across US and Europe
Consumer Spending: Solid back-to-school trends and healthy US
retail sales performance in August
Unemployment / underemployment continues to be an issue in US
and Europe
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PVH Future Driving Continued Stockholder Value
Set achievable goals since Tommy Hilfiger acquisition and we have outperformed
Positioned for strong growth in 2H12 and beyond with our existing
business opportunities and operating platforms
Focused on continued leadership across our brands and businesses
Capitalize on our global platform and powerful brands to drive superior long-term
growth and value for stockholders
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Revenue
EBIT*
% Margin
EPS*
We Are Capitalizing on the Combined Power Of Our Businesses
to Drive Strong Long Term Growth
*Excludes certain items. Reconciled on Form 8-K dated 3/ 28/ 11.
2009A
$2.4 BN
$270 MM
11.2%
$2.83
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Revenue
EBIT**
% Margin
EPS**
2011A 2012E*
$5.9 BN
$674 MM
11.4%
$5.38
~$6.0 BN
~$725 MM
12.1%
$6.35
09 vs. 12
CAGR
~35%
~39%
+90bps
31%
*2012 figures reflect midpoint of guidance.
**Excludes certain items. 2009 reconciled on Form 8-K dated 3/ 28/11. 2011 reconciled on Form 8-K dated 3/ 27/ 12. 2012E EPS reconciled on Form 8-K dated 10/ 2/ 12.
2009A
$2.4 BN
$270 MM
11.2%
$2.83
We Are Capitalizing on the Combined Power Of Our Businesses
to Drive Strong Long Term Growth
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Today, PVH Is One Of The Top Apparel Companies In The World
Global Growth Brands 2012E*
Heritage Brands
Revenues: ~$6.0 BN
Operating Profit: ~$725 MM
EPS**: $6.35
* 2012 figures reflect midpoint of guidance.
**Excludes certain items. Reconciled on Form 8-K dated 10/ 2/ 12.
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Revenue
EBIT**
% margin
EPS**
16 vs. 12
CAGR
~7%
~11%
+200 bps
15%
2011A 2012E* 2016E
$5.9 BN
$674 MM
11.4%
$5.38
~$6.0 BN
~$725 MM
12.1%
$6.35
~$7.7 BN
~$1.1 BN
14.1%
$11.00
09 vs. 12
CAGR
~35%
~39%
+90bps
31%
2009A
$2.4 BN
$270 MM
11.2%
$2.83
* 2012 figures reflect midpoint of guidance.
**Excludes certain items. 2009 reconciled on Form 8-K dated 3/ 28/11. 2011 reconciled on Form 8-K dated 3/ 27/ 12. 2012E EPS reconciled on Form 8-K dated 10/ 2/ 12.
We Are Capitalizing on the Combined Power Of Our Businesses
to Drive Strong Long Term Growth
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Calvin Klein: Brand Overview
2011 global retail sales: $7.6 BN
Calvin Klein Collection acts as halo and offers inspiration to
the ck Calvin Klein (bridge) and Calvin Klein (better) labels
Over 60 domestic and international licensing partners
Business model leverages brand across multiple products,
channels & price points
Calvin Klein:
LTM2Q12 Revenues: $1.1BN, Operating Profit: $275 MM, 25.2% (% Margin)
Calvin Klein Collection:
Licensing & Wholesale
Calvin Klein Apparel:
Wholesale & Retail
Dedicated In-House
Design Studio
Dedicated In-House
Advertising Agency
$300MM+ Globally
Dedicated In-House
Public Relations Agency
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Calvin Klein Global Retail Sales, 2003-2011
$2.8
$3.3
$3.9
$4.5
$5.6
$5.8 $5.8
$6.7
$7.6
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
2003 2004 2005 2006 2007 2008 2009 2010 2011
Calvin Klein global retail sales have grown over 13% compounded annually since 2003
($BN)
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Calvin Klein Consolidated Reportable Operating Profit, 2003-2011
$49
$68
$85
$121
$167
$172
$190
$248
$278
$0
$50
$100
$150
$200
$250
$300
2003 2004 2005 2006 2007 2008 2009* 2010 2011
($MM)
Calvin Klein consolidated operating profit has increased 24% compounded annually since 2003
*Excludes certain items. Reconciled on Form 8-K dated 3/28/11.
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Continue to drive brand reach and recognition globally through new
consumers, regions and channels
14% global retail sales growth to $7.6 BN in 2011
Added 400,000+ sq. ft. of new retail selling space globally
2012 continues to experience growth despite European weakness and
currency headwinds
Continue to optimize investment in global brand marketing
Enhance and leverage a global integrated calvinklein.com brand and
e-commerce site over next year
Optimize Calvin Klein across each major geographic region
North America, Europe, Asia, Mexico and South America
Calvin Klein Brand Strategy
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Calvin Klein Brand Video
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Calvin Klein Global Marketing Continues to Drive Brand
Over $300 million of global marketing spend across Calvin Klein brands
TIMEmagazine named Calvin Klein one of the
Top 100 Icons in Fashion, Style and Design
Calvin Klein Collection Serves As Halo For All Calvin Klein Brands
Highly successful brand at top of brand pyramid
Product innovation, category extensions and a cohesive global brand
marketing message continue to drive the brand
Global launch of ck one lifestyle apparel offering in 2011
2012 initiatives: Exciting global introduction of Calvin Klein Bold underwear
(Ms) and Calvin Klein J eansliquid metal
Key Fall 2012 fragrance initiatives:
Launch of ENCOUNTER Calvin Klein (Ms), with actor Alexander
Skarsgrd
New global marketing and advertising campaign for euphoria (Ws)
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Global net media mix has seen a shift in spend
In 2012, 23% of marketing spend has shifted to digital up from 1% in 2009
Enhanced focus on reaching the millennial consumer
ck one campaign our largest digital marketing campaign to date
Calvin Klein recognized by L2, a digital think tank group, as a genius
for digital marketing efforts around ck one campaign
Major Calvin Klein events in 2012:
Womens and mens runway shows in New York & Milan
Global introduction of ck one color cosmetics, Spring 2012
Celebrating 30
th
anniversary of Calvin Klein underwear
Celebrating 15
th
anniversary of ck Calvin Klein watches
Calvin Klein Global Marketing Continues to Drive Brand
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Achieved record ACE values in 2011 across key outlets and markets:
Global key short + long lead print coverage achieved:
(monitored by DMR*)
= 5+ billion impressions
= $140+ million approx advertising value
= $420+ million approx ACE value
USA television coverage achieved:
(monitored by Critical Mention)
= 740+ million impressions
= $40+ million approxACE value
Calvin Klein Global Marketing Continues to Drive Brand
*Australia, Brazil, China, HK, India, Korea, Singapore, and Taiwan short +long lead
print monitored locally for 2011; not avail or fully covered by DMR.
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Calvin Klein Global Retail Sales By Region
2011 Global Retail Sales by Region
49%
27%
18%
6%
1. Europe includes the Middle East and Africa.
N. America
Mexico and S. America
Europe
Asia
(1)
Over 50% of global retail sales are now generated outside of the US
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Calvin Klein Global Store Count
Calvin Klein Global Store Count
2010
ACTUAL
2011
ACTUAL
2012
Estimated
Calvin Klein Collection 5 4 5
ck Calvin Klein 73 89 108
Calvin Klein Jeans 354 417 484
ck Watch & Jewelry 3 6 9
Calvin Klein Underwear 191 238 229
Calvin Klein Company Stores 115 115 129
Total 741 869 964
Change +128 +95
We continue to see growth of over 400,000 sq. ft. a year, with over 53% in Emerging Markets
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Calvin Klein Collection
Madison Avenue
Global Flagship
New York City, NY
Calvin Klein
Global Full-Priced Freestanding Stores & Shop-in-Shop Formats
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ck Calvin Klein
Queens Road
Hong Kong, China
Calvin Klein
Global Full-Priced Freestanding Stores & Shop-in-Shop Formats
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Calvin Klein Jeans / Calvin Klein Underwear
Elements
Hong Kong, China
Calvin Klein
Global Full-Priced Freestanding Stores & Shop-in-Shop Formats
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Calvin Klein Jeans
Sanlitun Village
Beijing, China
Calvin Klein
Global Full-Priced Freestanding Stores & Shop-in-Shop Formats
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Calvin Klein Key Metrics By Region
$3.7 BN Retail Sales in 2011
3 year growth rate: +10%
US: Represents $3.4 BN in 2011 retail sales and ~45% of total global retail sales
1H12 Trends: sales up ~4%, driven by the following
Weakness in jeans and womens underwear, down double digits
Offset by positive double digit strong growth across womens apparel
and other categories including mens sportswear, footwear and
accessories
North America
Note: North America includes the US and Canada.
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Calvin Klein Key Metrics By Region
Europe, Middle East and Africa
$2.0 BN Retail Sales in 2011
3 year growth rate: +3%
Key markets (2011 Retail Sales)
UK: >$300 MM
Spain: >$225 MM
Underwear, jeanswear and fragrance have defined brand; limited apparel presence in
Southern Europe
1H12 Trends: sales down over 10% in constant currency
Principally related to weak performance in jeanswear, apparel and underwear
categories
Biggest near term opportunity: Calvin Klein bridge opportunity for brand elevation in
tailored, refined sportswear and accessories categories
Italy: >$300 MM
Germany: >$175MM
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Calvin Klein Key Metrics By Region
Asia
$1.4 BN Retail Sales in 2011
3 year growth rate: +16%
Key markets (2011 Retail Sales)
China: >$350 MM
Japan: >$225 MM
Korea: >$225 MM
1H12 Trends: Continued momentum in region with ~5% growthin constant
currency driven by China
China experiencing over 18% growth in local currency year to date
Growth driven by significant square footage expansion
Double digit growth in China, Hong Kong and India partially offset by softness in
Korea
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Calvin Klein Key Metrics By Region
Mexico and South America
~$500 MM Retail Sales in 2011
3 year growth rate: +22%
Key markets (2011 Retail Sales)
Brazil: >$200 MM retail sales in 2011
Potential to reach >$1 BN in next 5-7 years
Further expansion in Argentina, Peru, Chile
Product expansion tailored, refined sportswear and accessories
1H12 Trends: ~13% constant currency growth in region, fueled by Brazil
Brazil continues to be growth driver with ~20+% growth in constant currency year to
date
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Top 3 licensees represent 67% of 2011 Global Retail Sales
1. Warnaco: : 2011 retail sales: $2.8 BN
Underwear, jeans and apparel
2. 2011 retail sales: $1.4 BN
Fragrance
3. 2011 retail sales: $900 MM
Mens & womens outerwear, womens white label
sportswear, womens performance, womens dresses,
womens suits, womens handbags and luggage
Licensing model allows for maximizing brand reach and execution while
providing control and continued brand elevation / protection
Calvin Klein: Top Licensees
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2011 Retail Sales of $2.8 BN
Business down ~9% in constant currency in 1H12, driven by
softness in jeans business in North America and Europe in
particular
North America and Europe down over 17% and 15% in
constant currency, respectively
Momentum in Asia and South America continues in 2012
with over 5% and 20+% in constant currency, respectively,
in 1H12
Warnaco making investments in design talent, infrastructure and
merchandising to improve results; expect to see benefits in 1H13
2012 Product Initiatives
CKJs Double Indigo (jeanswear, S12)
CKJs liquid metal well-received by retailers (F12)
Ms CKU Bold strong sales and marketing campaign (S12)
Ws CKU Push Positive strong sales and marketing campaign
(F12)
Calvin Klein: Business Update Warnaco
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2011 Retail Sales of $1.4 BN, over 5% growth expected in 2012
Calvin Klein became the 3
rd
largest fragrance house in the world in 2011, outpacing
Armani, driven by euphoria, ck one Shock and Eternity
#1: Chanel
#2: Dior
#3: Calvin Klein
Calvin Klein fragrance portfolio has potential to reach over $2 BN in retail sales over
next few years
1H12 trends: up over 5% despite up against 1H11 fragrance launches
2012 fragrance initiatives:
ENCOUNTER Calvin Klein, with actor Alexander Skarsgard
euphoria (Ws)
Launched ck one color cosmetics (S12)
Full line-up of products for the face, eyes, lips & nails
By Spring 2013, 450 doors rolled out to major specialty beauty
and department store retailers worldwide
Calvin Klein: Business Update Coty
#4: Armani
#5: Dolce & Gabbana
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2011 Retail Sales of $900 MM, with over 15% growth in 1H12
Double digit growth expected in 2012
Womens sportswear
Expanded doors across multiple retailers
Dresses
Maintains position as the top dress brand at Macys
Womens suits
Converted core nested suits to a suit separates replenishment program
Womens performance:
Opened freestanding stores in Scottsdale and San Francisco
Opened at Bon-Ton and Macys
Handbags & small leather goods
Over $70 MM in retail sales in 2012, with potential of $200 MM in 5 years
Expanding leather portion of line
Luggage
Targeting placement in additional department stores
Focusing on China, Japan, UK and South America
Calvin Klein: Business Update G-III
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42
Calvin Klein Wholesale & Retail Overview
LTM2Q12 Wholesale & Retail Revenue: $660 MM
LTM2Q12 Wholesale & Retail Operating Profit: $78 MM, 11.9% Margin
Business Includes:
Wholesale dress furnishings and sportswear: $227 MM
North American retail stores: $433 MM
1H12 Business Trends:
Revenues increased over 7%
Note: All figures exclude Calvin Klein Collection business.
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Calvin Klein Wholesale Overview
LTM2Q12 Mens Better Sportswear Revenues of ~$147 MM
Potential growth opportunity to over $200 MM
LTM 2Q12 Dress Furnishings Revenue of ~$79 MM
Includes Calvin Klein dress shirts and neckwear sold
primarily to department stores in North America
An additional $50 MM opportunity
44
Calvin Klein North American Wholesale Strategic Priorities
44
Elevate brand through maximizing top door presence
Improve shop-in-shop experience / grow square footage
Evaluate exposure in smaller, less profitable stores
Improve door profitability
Further elevate AURs through product enhancements which should drive improved margins
Grow and improve market share position
New consumers, product enhancements and category growth
Hot climate initiative expand in underpenetrated Southern tier
Leverage and develop millennial customer relationship
ck one product initiative
Explore the potential expansion of Calvin Klein direct wholesale into new markets
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Calvin Klein North America Wholesale
MACYS GARDEN STATE PLAZA
LORD & TAYLOR - STAMFORD
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Calvin Klein North America Wholesale
MACYS STATE STREET
MACYS - LENNOX
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Approximately 115 stores, principally in premium
outlet centers across US and Canada
Strong comp performance
2011 comps: +16%
1Q12 comps: +9%
2Q12 comps: +5%
Calvin Klein Retail Overview
LTM2Q12 Retail Revenue: $433 MM
Note: All figures exclude Calvin Klein Collection business.
48
Calvin Klein North American Retail Strategic Priorities
48
Maximize growth and profitability in top performing centers
Mega store expansion Completed Harriman in June 2012, opening Sunrise (Miami) and Las Vegas between 4Q12
and 1H13 (~20,000 additional total sq. ft.)
Focus on sq. footage expansion for other major centers
US new store expansion and capital investment
Leverage 2012-2013 new center openings to provide for ~30 new stores over next 5 years
Test and launch Calvin Klein Accessories store concept
Three stores opened by end of 2012
If successful, could represent a ~50 store opportunity over next five years
New market launch in Canada in 2011
Five stores by end of 2012; solid new store performance, meeting or exceeding store pro formas
Opening Vaughn Mills, Toronto mega store in 4Q12 (~20,000 additional sq. ft.)
Potential for a 25-30 store market opportunity
Explore other new market opportunities
Guam, Caribbean
Integration of Calvin Klein global branding platform and North American e-commerce business in 2013
49
Calvin Klein Harriman, NY Mega Store
50
Calvin Klein Harriman, NY Mega Store
51
Calvin Klein Accessories Miami, FL
52
Key Drivers of Additional ~$4 BN Calvin Klein Global Retail Sales
Opportunity
Continued Growth Into
White Space
Improving Global Store /
Door Profitability
CK Europe Bridge Apparel
Opportunity
Investments in Top Doors
(Wholesale / Retail),
Merchandising Initiatives
and In-Store Experience
~$500MM
Over Next 5-7 Years
Emerging Markets
Growth Potential
China, Brazil, India, Russia
Product / Category
Expansion Opportunities
53
The Calvin Klein Europe Opportunity
Outstanding Brand Awareness & Desirability In The Region
Across Europe, the Calvin Klein brand is consistently among the top tier brands in
consumer awareness
UK
#1: Calvin Klein
#2: Diesel
#3: Lacoste
#4: Hugo Boss
#5: Polo
Germany
#1: Hugo Boss
#2: Lacoste
#3: Diesel
#4: Tommy Hilfiger
#5: Calvin Klein
France
#1: Lacoste
#2: Diesel
#3: Hugo Boss
#4: Calvin Klein
#5: Guess?
Italy
#1: Diesel
#2: Lacoste
#3: Calvin Klein
#4: Guess?
#5: Hugo Boss
Russia
#1: Hugo Boss
#2: Calvin Klein
#3: Lacoste
#4: Diesel
#5: Polo
Spain
#1: Lacoste
#2: Tommy Hilfiger
#3: Pepe Jeans
#4: Calvin Klein
#5: Hugo Boss
Source: Millward Brown Market Study Fall 2011.
54
The Calvin Klein Europe Opportunity Overview
The Opportunity
Major European retailers enthusiastically support the Calvin Klein brand
Strong belief in Tommy Hilfiger management teams ability to execute the
Calvin Klein European business
Re-launch of bridge line under a Calvin Klein master label should drive
better customer recognition across the region
Potential for a strong mens business is very achievable
Womens potential opportunity deemed even larger
Long Term Opportunity: ~$500 MM over next 5-7 years
55
Calvin Klein The Next Five Years
North America
Europe*
Asia
Mexico &
South America
Total Global
Retail Sales
2011 2016E
Retail Sales Growth
12% - 14%
14% - 16%
6% - 8%
5% - 7%
$7.6 BN
2011
Retail Sales
$0.5 BN
$1.4 BN
$2.0 BN
$3.7 BN
8% - 10%
* Includes Middle East and Africa.
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Calvin Klein The Next Five Years
49%
27%
18%
6%
2011
44%
24%
24%
8%
2016E
North America Europe Asia Mexico and South America
Global Retail Sales by Region
By 2016, Asia and South America will represent over 30% of Global Retail Sales
1. Europe includes Middle East and Africa.
(1)
57
2003A 2011A 2016E
$2.8 BN
$7.6 BN
~$11.5 BN
~$4.0 BN
Global Growth
Opportunity
Calvin Klein Next Five Years, Global Retail Sales
Calvin Klein continues to present a significant growth opportunity for PVH
58
Calvin Klein The Next Five Years Reported Revenues & Earnings
$1.1 BN
2011 2016E
OPERATING MARGIN
~$1.6 BN
REVENUES
26.1%
~27.0%
Operating Margin Expansion Impacted by Directly
Operated Business Growing Faster Than Licensed Business
59
I Z O D A R R O W B A S S V A N H E U S E N
60
Heritage Brands: Overview And Financial Summary
Heritage Brands
$541 MM
LTM 2Q12 Revenues
$529 MM
$653 MM
31%
% of TTL
31%
38%
Dress
Furnishings
Sportswear Retail
Our Heritage Brands Business Continues to Drive Significant Cash
Flow Which Helps Fund Growth of the Global Growth Brands
61
Heritage Brands: Overview
Dress Shirts
1 in 3 dress shirts sold in US is a PVH shirt
45% share in US department and chain stores
Top 3 dress shirt brands: ARROW, Van Heusen & Geoffrey Beene;
9 of the top 10 brands
Neckwear
Worlds largest neckwear company over 50% market share in
the US
Sportswear
Best selling US branded mens woven sport shirts Van Heusen #1
and ARROW#3
IZOD is #3 best selling US branded mens knit sport shirt
Retail
~500 Van Heusen, IZOD and Bassoutlet stores (2Q12)
2011 Comps: +2%
1H12 Comps: relatively flat
62
Heritage Brands
Wholesale Strategy
Maintain & Expand Leadership Position
NOTE: Based on % of unit volume.
Department & Chain Stores Combined.
Dress Shirts
Neckwear
Woven Shirts
Knit Shirts
Casual Pants
Underwear
45.5 %
50.0 %
14.0 %
12.6 %
7.0 %
< 5.0%
Category Unit Share
63
LTM2Q12 LTM2Q12
Operating
Heritage Brands Business Profit

Dress Furnishings + Van Heusen / ARROW $0.99 BN $95 MM
Timberland + I zod Women's $0.13 BN $2 MM
I zod + Bass $0.61 BN $0 MM
TOTAL $1.72 BN $98 MM*
Breaking Down The Heritage Brand Divisions LTM2Q12 Results
Maintain & Invest
Exit in 2012
Turnaround
Strategy
*Excludes certain items. Refer to Appendix for GAAP reconciliation.
1. Includes mens wholesale and retail.
(1)
Revenue
64
Heritage Brands Updates on 2012 Initiatives
Exit underperforming businesses
2012 Initiatives
Redirect marketing spend
Turnaround Bass
Status Update
Elevating in-store experience in top doors
Successfully exited Timberland and Izod
womens wholesale businesses in 1H12
Connect IZODbrand marketing with brand
DNA; continue to invest at POS
Refocused merchandising for Fall 2012;
new divisional leadership in place
Maintain and protect top-performing
dress furnishings business
Turnaround Izod mens
Market share growth via cross-channel
expansion (i.e., Van Heusen in Kohls)
All ~680 IZODshops in place at JCP;
performance to be tested
65
Heritage Brands
Dress Furnishings Strategy
Our dress shirt and neckwear divisions continue to grow through
cross-channel expansion and market share gains
Insignia business (distribution to Nordstrom, Neiman Marcus, Saks, etc.) continues to grow and
allows PVH to expand beyond the middle (i.e., mid-tier and better department stores)
66
Heritage Brands
Van Heusen / ARROW
Van Heusen & Arrow businesses remain healthy
Maintain and protect business longevity
Reinforce value equation for each brand
Growth through cross-channel expansion
Strengthen mid-tier position (Kohls, JCP), expand web presence
Van Heusen shops expected to be installed in 2013 at JCP
Targeted investments in marketing Van Heusen Institute of Style
Van Heusen Retail solid performance at retail across all categories, with
dress furnishings as standout
Acts as strategic complement to wholesale business
Continue to strengthen value proposition, product assortment and
presentation
Targeted store growth in best new centers
67
Heritage Brands
IZOD
2012 Initiative: Turn Around The Business
Focus on core mens sportswear business in department stores
Exited Izod womens business
Developed strategic plan to strengthen Izod mens business
Connect IZOD brand marketing to consumer base
Izod Wholesale
JCP = key partner for wholesale
All 680+ IZOD shops installed nationwide as of Friday, September 14
th
~80 large shops (1,100 sq. ft.) and ~600 small shops (500-600 sq. ft.)
Full lifestyle presentation with upgraded product within a complete in-
store shop experience
$10 MM investment to support shops
Commitment with JCP for next few years
68
Fall 2012 Launch
Heritage Brands
IZOD Shop-In-Shop At JCP, Manhattan Mall, NY (1,100 sq. ft.)
69
Heritage Brands
IZOD Shop-In-Shop At JCP, Roosevelt Field, NY (1,100 sq. ft.)
70
Heritage Brands
IZOD Shop-In-Shop At JCP, Lafayette, IN (600 sq. ft.)
71
Heritage Brands
IZOD
Izod Wholesale (contd)
Early learnings from JCP shop experience:
Sales trends continue to be driven by in-store traffic
Continued improvement / tailoring of marketing
message and promotional activity
Initial sales are strong, with sales running up +40% since
installation of shops and AURs up double digits
Izod Retail
Act as strategic complement to wholesale business
Active-inspired product focus with emphasis on golf
Targeted store growth strategy
72
Challenged in 2011, strategic initiatives in place
for 2012 and beyond
Right-size real estate portfolio and targeted real estate growth
Elevate in-store experience
Improved new prototype, store layouts and fixturing
Strategic product investments refocus product around brand
heritage (Weejuns, Bucs, Sunjuns)
Strengthen price / value proposition
Targeted store growth strategy
New divisional leadership in place
Heritage Brands
Retail Turnaround Bass
73
2005A 2011A 2016E
Heritage Brands Next Five Years, Global Retail Sales
~$2.5 BN
$3.4 BN
~$3.8 BN
The Heritage Brands Will Add Modest Revenue Growth Over Next Few Years
Measured
Growth
Opportunity
74
~11.0%
8.8%
10.0%
7.2%
5.7%
~7.3%
~10.0%
2005A 2009A* 2010A* 2011A* LTM 2Q12 2012E 2016E
Heritage Brands Next Five Years, Reported Operating Margins
We would expect to bring Heritage Brands back to 2010 profit level
Return to
Historic
Levels
*Note: Based off of Non-GAAP operating profits. Reconciled on Forms 8-K dated 3/ 27/ 12 and 3/ 28/ 11.
75
Heritage Brands The Next Five Years Reported Revenues & Earnings
$1.8 BN
2011 2016E
OPERATING MARGIN
~$2.2 BN
REVENUES
7.2%
~10.0%
76
77
Global Retail 2011 Revenues: ~$5.6 BN
Tommy Hilfiger Brand Overview
12%
45%
35%
8%
Classic American Cool/Preppy With A Twist
Strong Global Brand Awareness
Proven Accessible Designer Lifestyle Brand
N. America
Mexico & South
America
Asia
Europe
1. Mexico and South America includes the Caribbean and Central America.
2. Europe includes the Middle East and Africa.
(2)
(1)
78
LTM 2Q12 Tommy Hilfiger Business
Reported Revenues: $3.1 BN
- International Revenues: ~ $1.8 BN
- North America Revenues: ~ $1.4 BN
Operating Income*: $387 MM
Operating Margins*: 12.3%
Tommy Hilfiger Business Overview And Financials
*Refer to Appendix for GAAP reconciliations.
79
Tommy Hilfiger Global Structure
Retail
LTM 2Q12
Revenue by
Channel
LTM 2Q12
Revenue
(% of Total)
RoW
(2)
Total
$ 0.3
(10%)
$ 3.1
(100%)
($ in billions)
Europe
(1)
$ 1.4
(46%)
North America
$ 1.4
(44%)
Wholesale Licensing
FY11 Global
Retail Sales
% of Total
(3)
20%
$ 5.6
(100%)
45% 35%
1. Europe Includes the Middle East & Africa
2. ROW includes Mexico, South America (which includes Caribbean and Central America) & Asia.
3. Retail value defined as retail revenue plus estimated retail value of wholesale and licensed products.
72%
26%
2%
31%
68%
1%
88%
0%
12%
54%
43%
3%
80
Over 1,150 Stores and over 10,000 Doors Globally in 90 countries as of July 2012
Over 500 Company Operated Stores
1. Includes the US and Canada.
2. Includes franchisee stores.
3. Includes department store locations.
4. Includes Mexico and South America.
Tommy Hilfiger Extensive And Growing Global Distribution
North America
(1)
Total Stores: ~225
Europe
(2)
Total Stores: ~490
Rest of World
(4)
Licensees stores:
~150
Japan
(3)
Total Stores: ~160
Asia (excl. Japan)
Licensees stores: ~170
Distribution No Distribution
81
Tommy Hilfiger Evolution Of The Tommy Hilfiger Business In North America
250
750
1,250
1,750
2,250
Confused
Consumer, less
Aspiration
Rationalized
Wholesale US
Distribution
Outsized growth &
Improved
Profitability
Preppy with a twist
Peak Distribution of
Brand; Urban Exposure
& Popularity
82
Tommy Hilfiger Evolution Of The Tommy Hilfiger Business In North America
250
750
1,250
1,750
2,250
Peak Distribution of
Brand; Urban Exposure
& Popularity
Rationalized
Wholesale US
Distribution
Outsized growth &
Improved
Profitability
PVH ACQUIRED TOMMY HILFIGER
Preppy with a twist
Confused
Consumer, less
Aspiration
83
Tommy Hilfiger Evolution Of The Tommy Hilfiger Business In North America
Since rationalization of distribution in 2007-2009, we have made major strides to drive the
North American business back to growth in revenues:
250
750
1,250
1,750
2,250
Peak Distribution of
Brand; Urban Exposure
& Popularity
Confused
Consumer, less
Aspiration
Rationalized
Wholesale US
Distribution
Outsized growth &
Improved
Profitability
PVH ACQUIRED TOMMY HILFIGER
Preppy with a twist
84
0
200
400
600
800
1000
1200
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 LTMQ212
Licensing Retail Wholesale
Classic American Cool
Tommy Hilfiger History Of Tommy Revenue Development In Europe
Note: Fiscal years through 2009 reflect year end March.
85
Tommy Hilfiger History Of Tommy In The Rest Of The World
1985 2012
1998: Asia Collegiate Focused and Clear
86
Tommy Hilfiger History Of Tommy In The Rest Of The World
1985 2012
1998: Asia Collegiate Focused and Clear
2006: India Collegiate
Focused and Clear
87
Tommy Hilfiger History Of Tommy In The Rest Of The World
1985 2012
1998: Asia Collegiate Focused and Clear
2006: India Collegiate
Focused and Clear
1995: Mexico Collegiate Focused and Clear
88
Tommy Hilfiger History Of Tommy In The Rest Of The World
1985 2012
1998: Asia Collegiate Focused and Clear
2006: India Collegiate
Focused and Clear
1995: Mexico Collegiate Focused and Clear
1997: South America Collegiate Focused and Clear
89
Tommy Hilfiger History Of Tommy In The Rest Of The World
1985 2012
1995: Japan Collegiate and Urban In Transformation
1998: Asia Collegiate Focused and Clear
2006: India Collegiate
Focused and Clear
1995: Mexico Collegiate Focused and Clear
1997: South America Collegiate Focused and Clear
90
Tommy Hilfiger History Of Tommy In The Rest Of The World
1985 2012
1995: Japan Collegiate and Urban In Transformation
1998: Asia Collegiate Focused and Clear
2006: India Collegiate
Focused and Clear
1995: Mexico Collegiate
1997: South America Collegiate Focused and Clear
Focused and Clear
91
North America
92
Tommy Hilfiger North America
Delivering on Our 2010 Acquisition Targets
Target Status
Cleanup secondary channel to focus on exclusive
distribution through Macys (US) / The Bay (Canada)
Investing in top 50 Macys doors better floor
space, shop environment
Improved positioning to align with Europe / ROW
brand position and product
AURs have improved by ~30% from $26-$27 before
acquisition to current AURs of ~$34
Drive $40 million of run-rate synergies
Cleanup wholesale distribution
Elevate brand / positioning in US
Focus on elevating price points
Leverage Macys exclusive distribution
Cleanup / refocus Canadian store
footprint
Synergies ahead of schedule and above plan
Implemented multiple initiatives in-store
merchandising, marketing and customer experience
93
Tommy Hilfiger North America Overview
Retail
Represents 73% of
LTM revenues
North America
LTM 2Q12 Revenue: $1.4 BN
LTM 2Q12 Operating Profit: $159 MM* (11.7% Margin)
~220 stores in US +
Canada
2011 Comps: +14%
1H12 Comps: +13%
Wholesale
Represents 27% of
LTM revenues
Operates in Macys (US)
and The Bay (Canada)
Macys running
up 9% vs. LY
*Excludes certain items. Refer to Appendix for GAAP reconciliation.
94
Tommy Hilfiger North America Strategy Going Forward
Continue to elevate brand across all channels
Engage the domestic customer price, product, presentation, marketing
Drive higher AURs with elevated product, new product initiatives across wholesale and retail
Optimize Macys partnership through improved brand visibility and perception particularly in top doors
Drive licensing income growth at Macys through significantly broadened product presentation and
key product classification expansion which will improve overall profitability
Selectively expand and test specialty store presence to raise perception of brand in North America
Elevate Tommy.com to raise brand perception and to be consistent with specialty store assortment
Maximize retail store portfolio and mega store opportunity
Leverage Canadian opportunity
95
Tommy Hilfiger North America Overview of Retail
Drive brand elevation in every channel / category while maximizing current store portfolio and
pursuing opportunities for growth:
Maximize Store Portfolio
96
Tommy Hilfiger North America Retail Store Opportunity
New store and new market opportunities
~400,000 sq. ft. or 40 new stores over next 5 years
US / Canada / Guam
Square Footage Expansion In Addition To New Stores
Grow square footage through expansion of key locations
Additional ~100,000 sq. ft. added over next 5 years, of which ~50,000
sq. ft. will be in 2012 and 2013
Continue to capitalize on Mega Store success
Focus on product / merchandising
Improve / evolve in-store product and presentation
Drive and maintain foreign tourism sales
Dedicate additional space across product categories
97
Tommy Hilfiger Retail North America Stores Harriman, NY Mega Store
98
Tommy Hilfiger Retail North America Stores Harriman, NY Mega Store
99
Tommy Hilfiger Retail North America Stores Harriman, NY Mega Store
100
Tommy Hilfiger Retail North America Stores Harriman, NY Mega Store
101
Tommy Hilfiger North America Overview of Retail
Drive brand elevation in every channel / category while maximizing current store portfolio and
pursuing opportunities for growth:
Maximize Store Portfolio
Expand And Selectively Test A
US Retail Specialty Store Concept
102
Tommy Hilfiger North America Specialty Store Concept
Expand And Selectively Test A US
Retail Specialty Store Concept
Balance out brand position in US
Elevate brand positioning
Create full-price Tommy Hilfiger lifestyle store
Alignment of product and brand position
with Europe specialty
Currently operate ~15 specialty stores in North America
Open specialty stores in select markets
Garden State Plaza, NJ; Florida Mall, FL; Fashion
Valley, San Diego in late 2012
New flagship store to open on Robertson Blvd, LA
Focus on elevating the brand and providing
brand visibility on the West Coast
103
Tommy Hilfiger North America Specialty Store Concept
104
Tommy Hilfiger North America Specialty Store Concept
105
Tommy Hilfiger North America Specialty Store Concept
106
Tommy Hilfiger North America Specialty Store Concept
107
Tommy Hilfiger North America Overview of Retail
Drive brand elevation in every channel / category while maximizing current store portfolio and
pursuing opportunities for growth:
Maximize Store Portfolio
Expand And Selectively Test A
US Retail Specialty Store Concept
Drive The Domestic Consumer Into Retail Stores
108
Tommy Hilfiger North America Driving The Domestic Consumer
Continue to drive initiatives to capture the domestic consumer
Leverage The Hilfigers marketing campaign
Deliver the right product regionally
Offer an engaging store experience
Leverage national marketing to engage audience
TV, print, digital media
Grow customer database and cultivate 3.7 MM existing domestic
customers
Launch Hispanic marketing campaign
Drive increased emphasis around regional marketing
Focus on partnerships to drive targeted local customers into stores
Partner with the CK and Heritage divisions around cross-store
programs to drive traffic
Focused capital improvements in retail stores
Update aged stores with current visual and productivity standards
New fixtures & mannequins in stores to drive growth
109
Objective: Elevate product presentation and improve visibility and exposure of Tommy Hilfiger brand at
Macy's (US) and The Bay (Canada)
Strong wholesale performance continued in 1H12
Macys exclusive elevating brand position
with key partner in US
Canada: Further expansion in The Bay with womens
for Spring 2013
Re-Validated Macys partnership and brand strategy
Aligned marketing message at Macys with
global marketing in 2012
Aligned new Macys global account strategy
with Europe, Specialty and Outlet product
Continue to improve brand perception increase
retail price points
Tommy Hilfiger North America Overview of Wholesale
110
Tommy Hilfiger North America Overview of Wholesale
20,000 sq. ft. pickup across top doors, ~$10 MM shared capex investment with Macys
Renovated / updated shop performance has been quite strong
Business performing up 9% vs. LY
Top 50 Door Focus Upgrade And Invest In Top Door Shop Presentation
Womens as lifestyle brand, regionalized product, introduction of handbags
Implement Product Elevation, Presentation And New Initiatives Across Product Lines
Overall sales reduction in secondary channels in Canada
Reduced account base in US
Targeted Distribution Focused On Brand Elevation And
Exclusive Distribution In US And Canada
111
Tommy Hilfiger North America: Herald Square Men's
112
Tommy Hilfiger North America: Herald Square Men's
113
Tommy Hilfiger North America: Herald Square Women's
114
Tommy Hilfiger North America: Herald Square Women's
115
Europe
116
23 official languages in EU
26 currencies
plus the Euro
>700 million people
No Pan-European retailer
No Pan-European media
People are very different:
Dutch people are on average 8 inches
taller than Southern Europeans
Major economic differences:
Denmark 43K GDP/capita
France 31K GDP/capita
Portugal 16K GDP/capita
Tommy Hilfiger Europe The Fragmented States Of Europe
116
117
Tommy Hilfiger Europe Managed By A Matrix Organization
117
1. Includes Poland, Czech Republic, Slovenia, Croatia, Hungary and Bosnia.
2. REM=Rapidly Emerging Markets.
Divisional Managers
C
o
u
n
t
r
y

M
a
n
a
g
e
r
s
Womens-
wear
Childrens-
wear
Denim Body-
wear
Footwear Accessories Tailored Mens
Sportswear
P&L
P&L
P&L
P&L
P&L
P&L
P&L
P&L
P&L
P&L
P&L P&L P&L P&L P&L P&L P&L P&L
Germany/
Austria/CH
(1)
France
UK/Ireland
Netherlands
Scandinavia
Italy
REM
(2)
Turkey
Belgium
Spain/PT
Russia
P&L
118
Tommy Hilfiger Europe The Matrix Recognizes A Divisional
Management As Well As A Regional One
Design and merchandising
Buying
Key supplier management
Pricing and go-in margins
Product sales management
Order book control
Order book integrity
Stock control
Order book fulfilment
Divisional P&L for Europe
Sales Planning
Selling
Key account management
Gross margins
Volume sales management
Customer base control
Customer approval
Accounts receivable
Customer service
Regional P&L
Country/Regional Managers Divisional Managers
Product Sales
119
30 to 50 years old
Average household
income 70K+
Quality tailored
clothing, dress shirts
and ties
Emphasis on suits
and tailored shirts
150
25 to 45 years old
Average household
income 50K+
Casual sportswear for
men, women and kids
Emphasis on classics
with a twist
100
Tommy Hilfiger Europe Brand Overview
T
a
r
g
e
t

C
u
s
t
o
m
e
r
C
o
l
l
e
c
t
i
o
n
C
o
m
p
e
t
i
t
i
o
n
A
v
e
r
a
g
e
(
1
)
R
e
t
a
i
l

P
r
i
c
e
20 to 35 years old
Average household
income 30K to 50K+
Denim and related
separates for men,
women, and
teenagers
Emphasis on jeans
80
119
1. Includes VAT.
120
Wholesale Retail
120
Outlet
63
Full Price
400
Anchor
26
Concession
157
eComm
10
Note: Figures in Graphs represents latest counts for Retail and WHS; Total revenues mix
does not include licensing.
Reg.
Accounts
97%
Key
Accounts
3%
68% of total revenues
~ 7,000 WHS customers
785.8K sq. ft. of SIS
Key Accounts represent 3% of the customer base
but ~50% of the total order value
Largest Key Accounts:
El Corte Ingles (ES)
P&C (DE)
BREUNINGER (DE)
Galeries Lafayette(FR)
Coin (IT)
32% of total revenues (incl. e-commerce)
753.5K sq. ft. retail area
Full price, 441.3K sq. ft.; Outlet, 215.3K sq. ft.;
Concession 96.9K sq. ft.
Largest Anchor Stores:
Cologne Schildergasse (10.1K sq. ft.)
Paris Champs Elysees (10.1K sq. ft.)
London Brompton Road (9.2K sq. ft.)
Hamburg Alte Post (6.9k sq. ft.)
157 Concession POS locations in 6 countries
Tommy.com with 10 sites in local language
Tommy Hilfiger Europe Distribution Overview
121
Tommy Hilfiger Europe Sales Distribution Structure Overview
Sales >50 countries
16 sales offices
19 showrooms
~490 stores (FP, Outlet + Anchor)
across Europe
Of which 297 are franchisee stores
~ 7,000 WHS customers
2,000+ headcount
121
Showrooms
Headquarters
Agency Countries
Distributor
Subsidiaries
122
Tommy Hilfiger Europe Wholesale Overview
Wholesale accounts for ~68% of LTM 2Q12 Net Revenues
From zero to ~$1.0 BN in 15 years
~9,600 doors
Germany largest market
Focus on relatively under penetrated markets such as France, Russia and UK
Tailored / Accessories taken in-house offer strong growth potential
Regular WHS
80%
Franchisees
10%
Distributors
7%
Consignments
3%
Sales by Division Sales by Channel
122
PIGS
(*)
27%
Restof
Europe
73%
Regional Sales
MSW
30%
Denim
25%
FW
17%
WW
16%
CHW
8%
BW
2%
ACC
2%
* Portugal, Italy, Greece & Spain.
Note: Figures in graphs represent FY11 results.
123
PIGS
(*)
5%
Restof
Europe
95%
# Stores By Ownership
O&O Retail Sales by Channel
Tommy Hilfiger Europe Retail Sales & Store Portfolio
Full Price Sales By Division
123
* Portugal, Italy, Greece & Spain.
Note: Figures in graphs represent FY11 results, except # of stores (August 2012).
Owned & Operated (O&O) Regional Retail Revenues
O&O
192
Franchise
297
Concessions
157
Non-Anchor
78%
Anchor
22%
MSW
33%
WW
24%
Denim Men
14%
Denim
Women
11%
FW
7%
CW
4%
Tailored
4%
Bags
2%
BW
1%
124
Tommy Hilfiger Europe
79% Of European Revenues Overall Come From Countries Outside PIGS
1. Portugal, Italy, Greece & Spain.
Note: Figures in graphs represent FY11 total revenues for Europe (wholesale and retail).
PIGS
(*)
21%
Restof
Europe
79%
(1)
125
125
Tommy Hilfiger Europe Growth Opportunities
Product Categories Markets Channels
126
126
Tommy Hilfiger Europe Tailored Business Back In-House
1997
Launched through a
license agreement with
Strellson of Switzerland
January 2013
Brought in house Strong performance over the years leading to sales of ~ $65 MM
Premium positioning with specific success in the German market
Includes tailored clothing, dress shirts and ties as well as
increasingly semi tailored casualwear
127
Tommy Hilfiger Europe
Invest In Development Of Tailored & Accessories
127
* All revenues are at wholesale values.
Tailored is currently a business of ~$65 MM*
Potential of doubling the business over the coming years
Key initiatives
Focus on smooth transition
Develop new collections with strong Tommy aesthetic
Positive feedback from markets and customers on first
season in house
Launch Mens only (sportswear and tailored) store formats
Wholesale expansion across all markets
Accessories is currently a business of ~$30 MM*
Potential to grow to over $60 MM* in the next five years
Key initiatives
Build handbag business
Opened first Footwear / Accessories pilot stores
Creative alignment with footwear business
128
Currently a business of >$150 MM*
Potential to grow to over $250
MM* in the next 5 years
Key initiatives
New leadership in place
Bring TH brand vision to life at
POS with key styles and product
statements
Tommy Hilfiger Europe Invest In Development Of Womenswear
128
* All revenues are at wholesale values.
129
Controlled owned & operated store rollout in A locations (25-30 stores per year), including mall store
openings. And expect similar rate of store openings from franchise partners
Adding additional square footage to existing Outlet stores
Review acquisitions of clustered franchise stores; recently took back our Dutch franchisee (12 stores)
European centralization of Retail merchandise selection
Integration of Offline Retail, Online Retail and Social Media
Trialing new store concepts: Menswear; Accessories
Tommy Hilfiger Europe Continued Controlled Store Rollout In Great
Locations And In New Formats
New Anchor Store, Hamburg Germany New Accessories Concept
129
130
Represents 4% of business today
Last 3 years CAGR of +50% to ~$50 MM in revenues
Potential to grow to $150 MM in 5 years
Strong conversion improvement in 1H12
Focused on quality of traffic, site performance,
Hilfiger Club (loyalty program) integration
Adding and scaling market channels
Country optimized marketing spending
Offline integration of tommy.com
Country launches and category expansions (e.g.,
Tailored, Accessories, etc.)
Launches in Italy, Switzerland, Russia
Multi-channel integration
Tommy Hilfiger Europe Continue To Grow Our E-Commerce Business
130
131
Tommy Hilfiger Europe European Market-Driven Growth
Weighted Average
Nurture
Expand
Conquer
Country Population
Apparel&FW
SpendPer
Capita
Appareland
Footwear
Spend
%ofClothing
Expenditure
inMarkets
Market
Penetration
MM (MM) (%) (%)
Belgium 11 594 6,530 1.8% 1.4%
Ireland 5 660 2,970 0.8% 1.1%
Netherlands 17 793 13,250 3.6% 0.8%
Spain 46 540 24,956 6.9% 0.8%
Austria 8 962 8,084 2.2% 0.8%
Switzerland 8 742 5,860 1.6% 0.8%
Germany 81 787 64,044 17.6% 0.7%
Scandinavia 25 958 24,248 6.7% 0.3%
Turkey 73 209 15,298 4.2% 0.3%
Italy 61 851 51,631 14.2% 0.2%
France 63 664 41,906 11.5% 0.2%
UnitedKingdom 63 857 53,550 14.7% 0.2%
Russia 143 358 51,215 14.1% 0.0%
Total 604 690 363,541 100.0% 0.4%
Market
TommyEurope
132
Tommy Hilfiger Europe Regional Growth Management
Nurture Expand Conquer
Objective:
ImproveProductivityin
ExistingMarkets
FurtherPenetrationin
Northern&Central
EuropeanMarkets
Accelerated Growth
inNewer
UnderpenetratedMarkets
SelectMarkets:
Ireland Germany Russia
Belgium Austria EasternEurope
Spain Switzerland (MiddleEast)
Netherlands Scandinavia France
Italy Turkey UK
5YRCAGRTarget 5% 10% 15%
Significant opportunities remain across Europe
REM REM
133
Tommy Hilfiger Europe Rapidly Emerging Markets (REM) Overview
Operating in 28 countries
500 million people
98 Tommy stores + 85 SIS
>190K sq. ft. of branded space
570 wholesale POS
LTM REM revenues $101 MM (incl. $14 MM in Russia)
5 focus countries (Russia, Ukraine, Israel, United Arab
Emirates, South Africa)
300 million people
GDP per capita ~$17,000
Focus Areas Operating Markets
133
REM
countries
134
Tommy Hilfiger Europe
Focus On High Growth Markets In REM Highlights
134
Drive Moscow market through owned &
operated Tommy Hilfiger retail stores,
including a flagship location
Continue to drive franchise retail and
select wholesale accounts in the rest of
Russia, including St. Petersburg
(Europes 5
th
largest city)
Develop South Africa. First
store opening in 2012, with
over 10 planned over next
5 years
Drive Middle-East (GCC) business beyond
Dubai building retail and SIS in recently
opened markets of Abu Dhabi, Saudi
Arabia, Qatar, Kuwait
REM growth rate of ~25% over the past three years
Expect to experience similar growth over the next few
years as we strengthen our strong brand recognition in all
REMs
135
United Kingdom
Department store partners continue to perform well
Integrate UK with Ireland to leverage synergies of team and
space in London (New Brompton Road showroom)
Build on strong London representation and UK concession
business at House of Fraser
Tommy Hilfiger Europe
Conquer Underpenetrated Markets, UK & France
Brompton Rd. (London). 9.2K sq. ft. Opened Nov. 2011
135
France
Performing very well against very competitive French retail
market
Majority wholesale business (retail already one third and
growing)
Upgrade France positioning in the market with new Paris
Showroom and Champs Elysees flagship store
Champs Elysees (Paris). 10.1K sq. ft. Opened Nov. 2010
136
Germany +
1
MARKET
OVERVIEW
138
2011 sales of 704 MM euro (retail value)
Represents 10 countries with 171 million people
Local headquarters in Dusseldorf
Showrooms in Hamburg, Dusseldorf, Munich,
Zurich and Salzburg
164 retail stores with 391.5K sq. ft. selling space
1,032 SIS floors with 364.2K sq. ft. selling space
~ 1,100 employees (fte)
Germany+
Tommy Hilfigers Sales Region In The Heart Of Europe
139
Germany+
With Over 755K Sq. Ft. Dedicated Floor Space & ~1,200 Controlled POS
Sales Generated in Dedicated Floor Space
Represent 59%of our Total Revenue
SQ FT DOORS
RETAIL O&O 271,500 88
FRANCHISE 119,900 76
SHOP-IN-SHOP 364,200 1,032
DEDICATED FLOOR SPACE 755,600 1,196
140
Germany+ Has Achieved 23% Growth In Dedicated Floor Space
Over The Last 3 Years
813
903
1,032
70
75
88
62
67
76
FY10 FY11 FY12
#POS
945
1,045
1,196
289.9
321.7
364.2
228.9
247.2
271.5
94.8
100.0
119.9
FY10 FY11 FY12
K' SQ FT
FRANCHISE
RETAIL
SIS
613.6
668.9
755.6
SQ FT (000s)
141
Strong Competitive Position In Germany
Coverage With Dedicated Floor Space Across All Business Channels
32%
91%
37%
74%
100%
Ralph Lauren
Boss
Gant
Marc-o-Polo
Tommy Hilfiger
REVENUES
5
10
19
44
48
Ralph Lauren
Boss
Gant
Marc-o-Polo
Tommy Hilfiger
RETAIL STORES
0
7
5
63
32
Ralph Lauren
Boss
Gant
Marc-o-Polo
Tommy Hilfiger
FRANCHISE STORES
200
214
90
620
740
Ralph Lauren
Boss
Gant
Marc-o-Polo
Tommy Hilfiger
SHOP-IN-SHOP
Source: H+P, Internal Research.
Boss Withouth Outlet Metzingen.
2
WHOLESALE BUSINESS
143
Highest Market Share Among Competitors In German Wholesale Business
3.5%
3.4%
2.6%
0.9%
0.8%
Tommy
Hilfiger
Boss
Marc-o-
Polo
Gant
Ralph
Lauren
MARKET SHARE
3
RANK
4
7
23
25
Source: H+P Top 20 Supplier YTD August 2012, clothing total.
(Does not include vertical retailers).
144
Full Focus On Top 10 Key Accounts / Pre-Spr/Spr13 Order Intake: Top10
Key Accounts Represent 40% Of The Orderbook
Top 10 Key Accounts Order Intake Grew Over 30% vs. Prior Year
TOP 10
Other
Wholesale
40% 60%
+34%
+5%
TOP 10 Other
Wholesale
>30%
145
Germany+: Wholesale Growth Opportunities
Menswear
Growth potential through specific product groups
(i.e., pants, outerwear)
Womenswear
Significant potential to double the business
Tailored
Big potential to approach market leader in this segment
Denim
35%-40% growth potential
Footwear / Bags / Accessories
Significant potential for Denim and Childrenswear,
Footwear, Bags / Accessories early in market entrance
3
RETAIL
BUSINESS
147
164 Retail Stores With 391.5k Sq. Ft. Selling Space
88 O&O Retail Stores
76 Franchise Stores
Anchor Stores In Hamburg, Berlin, Dusseldorf,
Cologne, Frankfurt, Munich, Zurich, Vienna
25 Outlet Stores
Over 60 New Stores Planned Over The Next Five
Years
Germany+
Retail Store Footprint FY 2012 Owned & Operated And Franchise Stores
148
Tommy Hilfiger Retail Business Is Performing Well
In Comparison, Total German Fashion Retail Sales Declined By 2%
From March to August 2012 vs. Same Period Of Last Year
Source: Textilwirtschaft.
Tommy Hilfiger
Achieved Double Digit
Comparable Store Sales
Growth In Germany During
The Same Time Period
149
Germany+:
Retail Owned & Operated Growth Opportunities
Anchor Stores
Dusseldorf store expansion
Stuttgart, Geneva, Prague, Munich
Freestanding and Mall Stores
Predominantly casual stores In AAA A Locations,
accompanied by individual Footwear/Accessories &
Tailored Stores
Outlet Stores
Enlargement of existing outlets (Metzingen, Parndorf,
Wertheim, Ingolstadt), childrenswear & footwear Outlets,
Clearance Outlets In East Europe
Further Improve Comparable Store Sales Performance
Increase Average Price and Performance KPIs
(Conversion Rate, IPT)
4
HIGHLIGHTS
151
174 FT FACADE
HUB BETWEEN NEW KO-BOGEN BY LIEBESKIND AND
KONIGSALLEE
MOTHER OF THE GERMAN BUSINESS
New Store Dusseldorf
Re-Opening in September 2013 11.1K SQ. FT. Selling Space
152
GROUNDFLOOR: WOMENSWEAR, DENIM , SHOES &
ACCESSORIES, TOTAL 4.7K SQ FT
1ST FLOOR: MENSWEAR, TAILORED, DENIM , SHOES &
ACCESSORIES, TOTAL 3.4K SQ FT
New Store Dusseldorf
Re-Opening In September 2013 11.1K SQ. FT. Selling Space
153
New Shop-In-Shop At Hirmer, Munich
3.3K SQ. FT. Menswear Shop Opening In Fall 2013
HIRMER IS THE WORLDS BIGGEST MENSWEAR
DEPARTMENT STORE WITH MORE THAN 108K SQ FT
SELLING SPACE
TOMMY HILFIGER SHOP-IN-SHOP CARRIES 70% MSW
AND 30% TAILORED INCL. FOOTWEAR/ACCESSORIES
154
New Menswear Shop-In-Shop at Breuninger, Stuttgart
1.6K SQ. FT. Opening Fall 2012
155
The Country / Headquarters Partnership
Adoption meetings
Regional input
Bilateral business planning
Cooperative and supportive
company culture in dealing with
the customers
From Dsseldorf to Amsterdam
156
Asia
157
Tommy Hilfiger Asia Regional Overview
Japan
(+2%,GDP/capitagrowth)
India
(+8%,GDP/capitagrowth)
Australia
China&HK
(+9%,GDP/capitagrowth)
SouthKorea
(+5%,GDP/capitagrowth)**
*Figures exclude global licensee sales volume for Southeast Asia and Australia.
** Between 2009 and 2011. Source: World Bank, CIA World Factbook.
Geographic expansion continues in Asia:
Most regions experiencing double digit growth
2011 Global Retail Sales >$600 MM*
Japan
2011 Retail Sales: ~$287 MM
Retail only model: ~160 stores
China
2011 Retail Sales: ~$80 MM
Joint venture since August 2011
India
2011 Retail Sales: ~$70 MM
Joint venture since September 2011
Korea
2011 Retail Sales: >$100 MM*
Licensed
Southeast Asia
2011 Retail Sales ~$120MM*
Licensed business; recently added Vietnam & Indonesia
Our main Asian markets account for 39%
of the world population
158
Tommy Hilfiger Asia Japan Overview
Business brought in house from Itochu in 2008
2011 Retail Sales $287 MM through ~160 company owned and operated
stores
Brand position deemed (some time ago) in need of elevation and alignment
to global brand status
Experiencing high single digit negative comparable store sales reflecting:
Tough economic climate
Effect of the repositioning process
Important flagship store opened in Tokyo in April 2012
Significantly stepped up marketing investments behind elevated brand
position
Dedicated product development and supply chain initiatives in place
Repositioning project "on track" and expected to deliver positive momentum
second half of 2013
159
Sales area 11,000 sq. ft / Opened April 18, 2012
Tommy Hilfiger Asia First Asian Flagship Store opened in Omotesando
(Tokyo, Japan)
160
Tommy Hilfiger Asia China Overview
JV operations established in 2011 with buyout of previous licensee
Highly experienced Chinese CEO / Managing Partner
2011 gross retail sales ~$80 MM
All sales either through own stores or through franchisees
Double digit positive comps through 2012 to date
Strong growth outlook:
Chinese consumer very attracted to "classic American cool" casual clothing
Focus on premium positioning vs. pure luxury
Brand awareness increases expected from increased marketing and retail
presence
Plans to double door count over next two years mostly through franchisees
Build out e-commerce
Improved dedicated supply chain initiatives including increased local sourcing
161
Tommy Hilfiger Asia India Overview
JV established in September 2011 with Arvind
2011 gross retail sales ~$70 MM
Strong sales growth momentum expected to continue at ~30% per year
Currently all sales through franchisees - direct run retail to be
introduced near term
Expected to triple doors from 2011 to 2014
Introduction of new product groups (tailored, footwear)
Focus on premium positioning vs. pure luxury
Improved dedicated supply chain initiatives including increased local
sourcing
162
Mexico and
South America
163
Tommy Hilfiger Mexico & South America Regional Overview
Note: Includes Caribbean and Central America.
Mexico
Central America
South America
Caribbean
2011 Retail sales of ~$440 MM*
Entire region licensed:
Mexico through Groupo Axa since
2001
Central and South America
through "American Sportswear
South America (ASSA)" since 1989
All markets showing strong
momentum with double digit
growth
~ 150 franchise stores
Brazil remains largest
underpenetrated opportunity
164
LTM 2Q12 Tommy Hilfiger North America Business
Reported Revenues: $1.4 BN
Operating Income*: $159 MM
Operating Margins*: 11.4%
Tommy Hilfiger North America Business Overview And Financials
*Refer to Appendix for GAAP reconciliations.
165
LTM 2Q12 Tommy Hilfiger International Business
Reported Revenues: $1.8 BN
Operating Income*: $228 MM
Operating Margins*: 12.9%
Tommy Hilfiger International Business Overview And Financials
*Refer to Appendix for GAAP reconciliations.
166
LTM 2Q12 Tommy Hilfiger Business
Reported Revenues: $3.1 BN
- International Revenues: ~ $1.8 BN
- North America Revenues: ~ $1.4 BN
Operating Income*: $387 MM
Operating Margins*: 12.3%
Tommy Hilfiger Business Overview And Financials
*Refer to Appendix for GAAP reconciliations.
167
The Brand
168
The Next Five Years
169
Tommy Hilfiger Strategic Objectives And Growth Drivers
Europe
Invest in development of
Tailored, Womenswear &
Accessories
Focus on high growth
markets
Continue to develop
underpenetrated markets
Continued controlled
store rollout in great
locations and including
new formats
Continue growth of e-
commerce business
170
Tommy Hilfiger Strategic Objectives And Growth Drivers
North America
Continue to elevate brand
across all channels
Drive higher AUR's
Further develop Macy's
partnership to full potential
Drive licensing income
growth at Macy's
Develop and test specialty
retail to further engage
domestic consumer
Build out Tommy.com
Maximize retail and mega
store portfolio
Europe
Invest in development of
Tailored, Womenswear &
Accessories
Focus on high growth
markets
Continue to develop
underpenetrated markets
Continued controlled
store rollout in great
locations and including
new formats
Continue growth of e-
commerce business
171
Tommy Hilfiger Strategic Objectives And Growth Drivers
North America
Continue to elevate brand
across all channels
Drive higher AUR's
Further develop Macy's
partnership to full potential
Drive licensing income
growth at Macy's
Develop and test specialty
retail to further engage
domestic consumer
Build out Tommy.com
Maximize retail and mega
store portfolio
Europe
Invest in development of
Tailored, Womenswear &
Accessories
Focus on high growth
markets
Continue to develop
underpenetrated markets
Continued controlled
store rollout in great
locations and including
new formats
Continue growth of e-
commerce business
Asia
Complete repositioning in
Japan and return to
strong growth
Expand footprint in China
and develop dedicated
supply chain
Expand footprint in India
and increase price points
Continuously analyze and
assess potential to bring
back in-house JVs and
licensees
172
Tommy Hilfiger Strategic Objectives And Growth Drivers
North America
Continue to elevate brand
across all channels
Drive higher AUR's
Further develop Macy's
partnership to full potential
Drive licensing income
growth at Macy's
Develop and test specialty
retail to further engage
domestic consumer
Build out Tommy.com
Maximize retail and mega
store portfolio
Europe
Invest in development of
Tailored, Womenswear &
Accessories
Focus on high growth
markets
Continue to develop
underpenetrated markets
Continued controlled
store rollout in great
locations and including
new formats
Continue growth of e-
commerce business
Asia
Complete repositioning in
Japan and return to
strong growth
Expand footprint in China
and develop dedicated
supply chain
Expand footprint in India
and increase price points
Continuously analyze and
assess potential to bring
back in-house JVs and
licensees
Bring Brazil back in house
through JV
Develop dedicated
supply chain to service
counter seasonal
requirements
Mexico & South
America
173
Tommy Hilfiger Strategic Objectives And Growth Drivers
North America
Continue to elevate brand
across all channels
Drive higher AUR's
Further develop Macy's
partnership to full potential
Drive licensing income
growth at Macy's
Develop and test specialty
retail to further engage
domestic consumer
Build out Tommy.com
Maximize retail and mega
store portfolio
Europe
Invest in development of
Tailored, Womenswear &
Accessories
Focus on high growth
markets
Continue to develop
underpenetrated markets
Continued controlled
store rollout in great
locations and including
new formats
Continue growth of e-
commerce business
Asia
Complete repositioning in
Japan and return to
strong growth
Expand footprint in China
and develop dedicated
supply chain
Expand footprint in India
and increase price points
Continuously analyze and
assess potential to bring
back in-house JVs and
licensees
Bring Brazil back in house
through JV
Develop dedicated
supply chain to service
counter seasonal
requirements
Mexico & South
America
174
Tommy Hilfiger The Next Five Years
2011 2016E
Retail Sales Growth
2011
Retail Sales
Mexico & South
America
12% - 14% $0.4 BN
Asia (ex. Japan)
Japan
15% - 20%
2% - 3%
$0.4 BN
$0.3 BN
Europe 7% - 9% $2.5 BN
North America 5% - 7% $2.0 BN
Total Global
Retail Sales
$5.6 BN 8% - 10%
175
Tommy Hilfiger The Next Five Years
35%
45%
12%
8%
2011
32%
44%
15%
9%
2016E
North America Europe Asia Mexico &South America
Global Retail Sales by Region
176
2005A 2011A 2016E
Tommy Hilfiger Continues To Drive Significant Growth Opportunities
Over The Next Five Years
$2.5 BN
$5.6 BN
~$8.5 BN
+ ~$3 BN
Global Growth
Opportunity
177
Tommy Hilfiger The Next Five Years Reported Revenues & Earnings
* Excludes certain items. Reconciled in Form 8-K dated 3/ 27/ 12.
2011 2016E
OPERATING MARGIN*
REVENUES
11.6% ~14.3%
$3.1 BN ~$4.0 BN
178
THANK YOU
179
FINANCIAL OUTLOOK
Emanuel Chirico
Chairman & Chief Executive Officer
PVH Corp.
180
We Continue to See Improved Performance Across Our
Businesses for The Second Half of 2012
* Excludes certain items. EPS reconciled on Form 8-K dated 10/2/12.
**3Q12 and FY12 revenues are expected to be negatively impacted by foreign currency translation and the exit from the Izod Womens and
Timberland wholesale sportswear businesses of approximately 6% and 4%, respectively.
Revenue
EPS*
$1.605 $1.621BN
$2.28 $2.30
(2%) (3%)**
21% 22%
$5.950 $6.009BN
$6.32 $6.37
1% 2%**
17% 18%
3Q12E
3Q12E vs. 3Q11
% Growth
FY12E
FY12E vs. FY11
% Growth
181
We Have Continued to Drive Strong Financial
Performance Over Last Three Years
2009 2010 2011
Revenue
EBIT*
% Margin
EBITDA**
% Margin
EPS*
$2.4 BN
$270 MM
11.2%
$320 MM
13.3%
$4.6 BN
$548 MM
11.8%
$658 MM
14.2%
$4.26
$5.9 BN
$674 MM
11.4%
$805 MM
13.7%
$5.38 $2.83
09-12 CAGR
35%
39%

31%
*Excludes certain items. 2009 reconciled on Form 8-K dated 3/ 28/11. 2010 and 2011 reconciled on Form 8-K dated 3/ 27/ 12. 2012E EPS
reconciled on Form 8-K dated 10/2/12.
**Excludes certain items. Refer to Appendix for GAAP reconciliation.
*** 2012 figures reflect mid-point of guidance.
2012E***
$6.0 BN
$725 MM
12.1%

$6.35
182
Continued Momentum Across The Business
$1,548
$1,641
$1,909
$2,091 $2,425
$2,397 $2,399
$4,637
$5,891
$5,979
$0.98
$1.37
$1.88
$2.62
$3.21
$2.95
$2.83
$4.26
$5.38
$6.35
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E*
$

M
i
l
l
i
o
n
s
Revenue & EPS Growth (2003 2012E)
* 2012 figures reflect midpoint of guidance.
**Excludes certain items. Reconciled on Forms 8-K dated 10/ 2/ 12, 3/ 27/12, 3/ 28/ 11, 3/ 23/ 09, 3/ 26/07 and 3/ 17/ 05.
183
We Are Focused On Continuing to Drive Stockholder Value
Driving
Enhanced
Stockholder
Value
Driving Productive Long-Term Growth
Generating Significant Cash Flow
Optimizing Capital Deployment
Strategic Investments In Calvin Klein & Tommy Hilfiger
Improve Working Capital
Focus On Enhancing Returns
Making Strategic Investments
Operate Within Target Leverage Range
Utilize Cash Flow To Improve Returns
184
PVH in Five Years Global Retail Sales
$7.6 BN
~$11.5 BN
$5.6 BN
~$8.5 BN
$3.4 BN
~$3.8 BN
$16.6 BN
2011 2016E 2011 2016E 2011 2016E 2011 2016E
I Z O D A R R O W B A S S V A N H E U S E N
TOTAL PVH
~$23.8 BN
185
~$6.0 BN
PVH In Five Years Reported Revenue
$1.1 BN
$3.1 BN
$1.8 BN
$5.9 BN
2011 2016E
I Z O D A R R O W B A S S V A N H E U S E N
TOTAL
~$1.6 BN
~$4.0 BN
~$2.2 BN
~$7.7 BN
+ ~$1.8 BN In Revenues since 2011
2012E
186
PVH In Five Years Reported Operating Margin
26.1%
11.6%*
7.2%*
11.4%*
2011 2016E
I Z O D A R R O W B A S S V A N H E U S E N
TOTAL
+ ~270 BPS IMPROVEMENT
~27.0%
~14.3%
~10.0%
~14.1%
*Based on non-GAAP operating profit. Reconciled on Form 8-K dated 3/27/12.
~12.1%
2012E
187
PVH In Five Years Free Cash Flow* Generation
2011 2016E
$259
>$600
*Free Cash Flow Defined as Cash Flow From Operations less Capex less Mr. Klein Payments less Dividends.
($ in millions)
188
PVH In Five Years Reported Earnings Per Share
$5.38*
2011 2016E
$11.00
5-Year CAGR:
+15%
Note: Assumes excess free cash flow in 2013-2016 is used to pay down debt.
*Excludes certain items. Reconciled on Forms 8-K dated 10/ 2/ 12 and 3/ 27/ 12.
$6.35*
2012E
189
Revenue
EBIT**
% margin
EPS**
16 vs. 12
CAGR
~7%
~11%
+200 bps
15%
2011A 2012E* 2016E
We Are Capitalizing on the Combined Power Of Our Businesses
to Drive Strong Long Term Growth
$5.9 BN
$674 MM
11.4%
$5.38
~$6.0 BN
~$725 MM
12.1%
$6.35
~$7.7 BN
~$1.1 BN
14.1%
$11.00
09 vs. 12
CAGR
~35%
~39%
+90bps
31%
2009A
$2.4 BN
$270 MM
11.2%
$2.83
* 2012 figures reflect midpoint of guidance.
**Excludes certain items. 2009 reconciled on Form 8-K dated 3/ 28/11. 2011 reconciled on Form 8-K dated 3/ 27/ 12. 2012E EPS reconciled on Form 8-K dated 10/ 2/ 12.
190
PVH In Five Years Significant Leverage Improvement Since TH Acquisition
3.6x
2.4x
~2.0x
Close of TH Acq. 2011YE* 2012YE 2016YE
*Reflects non-GAAP data. Reconciled on Form 8-K dated 3/27/12.
Net
Cash
Position
191
PVH In Five Years Focused On Enhancing Returns
9.5
13.0
13.7
8.7
13.4
15.9
8.1
13.2
15.2
9.8
16.0
15.3
0
5
10
15
20
25
ROIC ROIC ex-GW ROE
2009 2010 2011 2012E 2016E
~14.0
~21.5
>15.5
P
e
r
c
e
n
t
Note: 2009 2011 data based off of non-GAAP net income. Reconciled on Forms 8-K dated 3/27/12 and 3/28/11.
09 10 11 12E
16E 09 10 11 12E 16E 09 10 11 12E 16E
192
Strategic Investments in Calvin Klein and Tommy Hilfiger brands
License buybacks Regional and product categories
Acceleration of growth in developing economies
Strategic Acquisitions
Debt Paydown
Projected to be in a net cash position by year-end of 2015
Evaluate Capital Deployment / Returns to Stockholders
Stock repurchases vs. dividends
PVH In Five Years Use Of Free Cash Flow
193
QUESTI ONS AND ANSWERS
194
A P P E N D I X
195
APPENDIX
GAAPtoNonGAAPReconciliations
EarningsBeforeInterest,Taxes,DepreciationandAmortization(EBITDA)
(Amountindollarsandinmillions)
FullYear FullYear FullYear
2009 2010 2011
GAAPnetincome $161.9 $53.8 $317.9
Pretaxnonrecurringandonetimeitems
(1)
25.9 344.9 114.6
Interestandtaxes 81.9 149.6 241.8
EBITexcludingnonrecurringandonetimeitems 269.7 548.3 674.2
GAAPdepreciationandamortization 49.9 147.1 132.0
Depreciationandamortizationincludedinnonrecurringandonetimeitems
(1)
(37.3) (1.2)
EBITDAaspresented $319.6 $658.1 $805.1
(1)
Excludeditemsincludethecostsincurred(i)in2011and2010inconnectionwiththeCompany'sacquisitionand
integrationofTommyHilfigerandtherelatedrestructuring;(ii)in2011inconnectionwiththeCompany'sbuyoutofthe
TommyHilfiger perpetuallicenseinIndia;(iii)in2011inconnectionwiththeCompany'smodificationofitscreditfacility;
(iv)in2011inconnectionwiththeCompany'snegotiatedearlyterminationofitslicensetomarketsportswearunderthe
Timberlandbrandandthe2012exitfromtheIzodwomen'swholesalesportswearbusiness;(v)in2010inconnection
withtheCompany'sexitfromitsUnitedKingdomandIrelandVanHeusendressfurnishingsandaccessoriesbusiness;
and(vi)in2009inconnectionwiththeCompany'srestructuringinitiatives.PleaseseetheCompany'sCurrentReports
onForms8Kdated3/28/11 and 3/27/12formoredetail.
196
APPENDIX (contd)
Note:Figuresexcludenonrecurringandonetimeitems.ReconciledonForms8Kdated3/27/12and8/27/12.
NonGAAPEarningsBeforeInterestandTaxesbySegment
LTM2Q2012
(Amountindollarsandinmillions)
FullYear SixMonths LTM
2011 2011 2012 Q22012
TotalHeritageBrands 127.1 70.3 40.9 97.7
TotalCalvinKlein 278.0 121.6 118.6 274.9
TommyHilfigerNorthAmerica 126.2 49.4 82.0 158.8
TommyHilfigerInternational 226.8 117.1 118.1 227.8
TotalTommyHilfiger 353.0 166.5 200.1 386.6
OperatingProfit(beforecorporateexpenses) 758.1 358.4 359.6 759.2
Corporate (83.8) (40.0) (49.8) (93.7)
Totalearningsbeforeinterestandtaxes $674.2 $318.5 $309.8 $665.5