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PVH CORP . 200 MADISON AVENUE NEW YORK , NY 10016 FOR IMMEDIATE RELEASE : December 1 , 2021 PVH CORP . REPORTS 2021 THIRD QUARTER EARNINGS ABOVE GUIDANCE AND RAISES • FULL YEAR EPS OUTLOOK Third quarter revenue increased 10 % to $ 2.333 billion compared to the prior year period , despite worsening logistics disruptions in October , including significant U.S. port delays , which resulted in a 4 % negative impact from an unplanned shift in the timing of U.S. wholesale shipments from the third quarter into the fourth quarter ° о Full year 2021 revenue projected to increase 27 % to 28 % compared to 2020 , reaffirming the top end of previous guidance Revenue in international businesses for the quarter significantly exceeded third quarter 2019 pre- pandemic levels ° Revenue through digital channels for the quarter grew approximately 15 % о Digital penetration as a percentage of total revenue was approximately 21 % • • Gross margin for the quarter increased over 300 basis points compared to third quarter 2019 pre - pandemic levels and drove operating margin expansion Third quarter EPS exceeded guidance and was : о GAAP basis : $ 3.89 compared to guidance of $ 3.00 to $ 3.05 • • • о Non - GAAP basis : $ 2.67 compared to guidance of $ 1.95 to $ 2.00 Raising full year 2021 EPS outlook : о о GAAP basis : Raising to approximately $ 10.75 from approximately $ 8.80 previously Non - GAAP basis : Raising to approximately $ 9.25 from approximately $ 8.50 previously Made over $ 100 million of voluntary term loan payments in the third quarter ( bringing voluntary payments to over $ 800 million for first nine months of 2021 ) Repurchased $ 149 million of common stock and reinstated the cash dividend New York , New York - PVH Corp. [ NYSE : PVH ] reported its 2021 third quarter results . 1