{
 "company": "PVH Corp.",
 "ticker": "PVH",
 "sector": "Apparel - Manufacturers",
 "fiscalYearEnd": null,
 "revenueUsdM": 8950.2,
 "normalizedSga": {
  "pctRevenue": 44.65,
  "peerCount": 12,
  "peerMedianPctRevenue": 38.0,
  "peerLeanQuartilePctRevenue": 31.1,
  "peers": [
   {
    "ticker": "OXM",
    "name": "Oxford Industries, Inc.",
    "normalizedSgaPctRevenue": 48.31
   },
   {
    "ticker": "RL",
    "name": "Ralph Lauren Corporation",
    "normalizedSgaPctRevenue": 46.06
   },
   {
    "ticker": "LULU",
    "name": "Lululemon Athletica Inc.",
    "normalizedSgaPctRevenue": 31.07
   },
   {
    "ticker": "CRI",
    "name": "Carter's Inc.",
    "normalizedSgaPctRevenue": 38.0
   },
   {
    "ticker": "CROX",
    "name": "Crocs, Inc.",
    "normalizedSgaPctRevenue": 25.89
   },
   {
    "ticker": "LEVI",
    "name": "Levi Strauss & Co.",
    "normalizedSgaPctRevenue": 43.56
   },
   {
    "ticker": "COLM",
    "name": "Columbia Sportswear Company",
    "normalizedSgaPctRevenue": 37.74
   },
   {
    "ticker": "VFC",
    "name": "V.F. Corporation",
    "normalizedSgaPctRevenue": 39.62
   },
   {
    "ticker": "DECK",
    "name": "Deckers Outdoor Corporation",
    "normalizedSgaPctRevenue": 24.31
   },
   {
    "ticker": "UAA",
    "name": "Under Armour, Inc.",
    "normalizedSgaPctRevenue": 36.08
   },
   {
    "ticker": "TPR",
    "name": "Tapestry, Inc.",
    "normalizedSgaPctRevenue": 41.88
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "advertising",
   "label": "Advertising",
   "pctRevenue": 5.54,
   "companiesDisclosing": 12,
   "peersDisclosing": [
    {
     "ticker": "OXM",
     "pctRevenue": 7.04
    },
    {
     "ticker": "RL",
     "pctRevenue": 7.82
    },
    {
     "ticker": "LULU",
     "pctRevenue": 5.56
    },
    {
     "ticker": "CRI",
     "pctRevenue": 3.01
    },
    {
     "ticker": "CROX",
     "pctRevenue": 9.74
    },
    {
     "ticker": "LEVI",
     "pctRevenue": 6.96
    },
    {
     "ticker": "COLM",
     "pctRevenue": 6.48
    },
    {
     "ticker": "VFC",
     "pctRevenue": 8.84
    },
    {
     "ticker": "DECK",
     "pctRevenue": 9.06
    },
    {
     "ticker": "UAA",
     "pctRevenue": 10.11
    },
    {
     "ticker": "TPR",
     "pctRevenue": 12.02
    }
   ],
   "note": "Brand spend is not the overhead question here."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 0.49,
   "companiesDisclosing": 12,
   "peersDisclosing": [
    {
     "ticker": "OXM",
     "pctRevenue": 1.06
    },
    {
     "ticker": "RL",
     "pctRevenue": 1.37
    },
    {
     "ticker": "LULU",
     "pctRevenue": 0.56
    },
    {
     "ticker": "CRI",
     "pctRevenue": 0.7
    },
    {
     "ticker": "CROX",
     "pctRevenue": 0.91
    },
    {
     "ticker": "LEVI",
     "pctRevenue": 1.3
    },
    {
     "ticker": "COLM",
     "pctRevenue": 0.71
    },
    {
     "ticker": "VFC",
     "pctRevenue": 0.8
    },
    {
     "ticker": "DECK",
     "pctRevenue": 0.82
    },
    {
     "ticker": "UAA",
     "pctRevenue": 0.92
    },
    {
     "ticker": "TPR",
     "pctRevenue": 1.31
    }
   ],
   "note": "Below the peer median. Not distorting the overhead picture."
  },
  {
   "key": "restructuring",
   "label": "Restructuring",
   "pctRevenue": 0.0,
   "companiesDisclosing": 12,
   "peersDisclosing": [
    {
     "ticker": "OXM",
     "pctRevenue": 0.0
    },
    {
     "ticker": "RL",
     "pctRevenue": 0.0
    },
    {
     "ticker": "LULU",
     "pctRevenue": 0.0
    },
    {
     "ticker": "CRI",
     "pctRevenue": 0.34
    },
    {
     "ticker": "CROX",
     "pctRevenue": 0.0
    },
    {
     "ticker": "LEVI",
     "pctRevenue": 0.39
    },
    {
     "ticker": "COLM",
     "pctRevenue": 0.0
    },
    {
     "ticker": "VFC",
     "pctRevenue": 0.45
    },
    {
     "ticker": "DECK",
     "pctRevenue": 0.0
    },
    {
     "ticker": "UAA",
     "pctRevenue": 2.57
    },
    {
     "ticker": "TPR",
     "pctRevenue": 0.0
    }
   ],
   "note": "No filed restructuring charges for the latest fiscal year; runs in line with the typical peer, counted wherever they sit on the P&L; one-time charges are stripped from the Exhibit 2 number either way."
  }
 ],
 "gapToPeers": {
  "toPeerMedian": {
   "usdM": 523,
   "bps": 584
  },
  "toLeanQuartile": {
   "usdM": 879,
   "bps": 982
  }
 },
 "tsrBridge": [
  {
   "label": "1 year",
   "span": "FY2024 to FY2025",
   "companyTsrPct": -30,
   "peerTsrPct": -6,
   "driverPp": {
    "Revenue growth": 3,
    "Gross margin": -24.4,
    "SG&A": -36.3,
    "Multiple": 50.1,
    "Other": -16.1
   }
  },
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": -30,
   "peerTsrPct": 23,
   "driverPp": {
    "Revenue growth": -11.3,
    "Gross margin": 3.6,
    "SG&A": -13.6,
    "Multiple": -23.1,
    "Other": -8.6
   }
  },
  {
   "label": "10 years",
   "span": "FY2016 to FY2025",
   "companyTsrPct": -32,
   "peerTsrPct": 284,
   "driverPp": {
    "Revenue growth": -78.2,
    "Gross margin": -122.4,
    "SG&A": 0.3,
    "Multiple": -71,
    "Other": -45.3
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/PVH",
  "json": "https://sgabenchmarking.com/r/PVH.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}