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PVH CORP . 200 MADISON AVENUE NEW YORK , NY 10016 FOR IMMEDIATE RELEASE : August 31 , 2021 PVH CORP . REPORTS 2021 SECOND QUARTER RESULTS ABOVE GUIDANCE AND RAISES FULL YEAR OUTLOOK • Second quarter revenue increased 46 % to $ 2.313 billion ( increased 40 % on a constant currency basis ) compared to the prior year period and exceeded guidance • • • ° ° ° Revenue in international businesses significantly exceeded 2019 pre - pandemic levels Revenue through digital channels grew approximately 35 % compared to the prior year period Digital penetration as a percentage of total revenue continues to be approximately 25 % Gross margin for the quarter exceeded 2019 pre - pandemic levels Second quarter EPS exceeded guidance and was : ° о GAAP basis : $ 2.51 compared to guidance of $ 0.79 to $ 0.82 Non - GAAP basis : $ 2.72 compared to guidance of $ 1.15 to $ 1.18 Raising full year 2021 EPS outlook despite continued COVID - 19 uncertainty : о ° GAAP basis : Raising to approximately $ 8.80 from approximately $ 6.60 previously Non - GAAP basis : Raising to approximately $ 8.50 from approximately $ 6.50 previously Made $ 700 million of voluntary term loan payments in the first six months of 2021 ( $ 200 million in the second quarter ) , equal to the incremental amount borrowed during 2020 Closed the sale of certain intellectual property and other assets of the Heritage Brands business in August 2021 , with approximately $ 200 million of net proceeds to be utilized to repurchase shares in 2021 New York , New York - PVH Corp. [ NYSE : PVH ] reported its 2021 second quarter results . 1