elevenkpvhpraip2012.htm

 
ECURITIES AND EXCHANGE COMMISSION
 
 
WASHINGTON, DC 20549
 
_____________
 
 
FORM 11-K
 
 
ANNUAL REPORT
 
 
PURSUANT TO SECTION 15(d) OF THE
 
 
SECURITIES EXCHANGE ACT OF 1934
 
(Mark One):
 
ý  ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the fiscal year ended    December 31, 2012                                                                                                                                          
 
OR
 
 
o  TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from __________ to __________
 
Commission file number    1-724    
 
A.  Full title of the plan and the address of the plan, if different from that of the issuer named below:  PVH Associates Investment Plan For Residents Of The Commonwealth Of Puerto Rico

B.  Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: PVH Corp., 200 Madison Avenue, New York, New York 10016

 
 

 


 
SIGNATURES
 
 
The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
 
PVH ASSOCIATES INVESTMENT PLAN FOR
RESIDENTS OF THE COMMONWEALTH
OF PUERTO RICO



Date:  June 28, 2013
By:     /s/  Dana M. Perlman                                                          
 
Dana M. Perlman
 
Member of Plan Committee

 
 

 

ANNUAL REPORT ON FORM 11-K ITEM 4

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

FINANCIAL STATEMENTS

December 31, 2012 and 2011


 
 

 

ANNUAL REPORT ON FORM 11-K ITEM 4

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

TABLE OF CONTENTS

December 31, 2012 and 2011



 
Page
Report of Independent Registered Public Accounting Firm
1
Financial Statements
 
Statements of Net Assets Available for Benefits
3
Statement of Changes in Net Assets Available for Benefits
4
Notes to Financial Statements
5
Supplemental Schedule
 
Schedule H, Line 4i--Schedule of Investments Held at Year End at Fair Value
14
   

 






 
 

 

Report of Independent Registered Public Accounting Firm

Administrative Committee of the Plan
PVH Associates Investment Plan for Residents
of the Commonwealth of Puerto Rico

 
Report on the Financial Statements
 
We have audited the accompanying financial statements of the Associates Investment Plan for Residents of the Commonwealth of Puerto Rico (the “Plan”),  which comprise the statements of net assets available for benefits as of December 31, 2012 and 2011, and the related statement of changes in net assets available for benefits for the year then ended December 31, 2012 and the related notes to the financial statements.
 
Management’s Responsibility for the Financial Statements
 
Plan management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
 
Auditor’s Responsibility
 
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America as established by the Auditing Standards Board (United States) and in accordance with the auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.



1

 
 

 


Report of Independent Registered Public Accounting Firm
 

 
 
Opinion
 
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2012 and 2011 and the changes in its net assets available for benefits for the year ended December 31, 2012, in conformity with accounting principles generally accepted in the United States of America.
 
Report on Supplemental Information
 
Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplemental schedule of investments held at year end at fair value as of December 31, 2012, referred to as “supplemental information,” is presented for the purpose of additional analysis and is not a required part of the financial statements but is supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. Such information is the responsibility of the Plan’s management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.


















New York, NY
June 26, 2013

2

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

December 31, 2012 and 2011


 
     2012
     2011
     
Assets
   
     
Cash
$      4,241 
$       4,253
Participant-directed investments, at fair value
567,195 
375,478
Notes from participants
     40,058
      43,543
     
Total assets
   611,494
    423,274
     
Liabilities
   
     
Other payables
      4,456
        4,293
     
Total liabilities
      4,456
        4,293
     
Net assets available for benefits, at fair value
607,038
418,981
     
Adjustment from fair value to contract value for interest
   
in common/collective trust relating to fully
   
benefit-responsive investment contracts
     (6,043)
     (4,238)
     
Net assets available for benefits
$  600,995
$  414,743











The accompanying notes are an integral
part of these financial statements



3

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

STATEMENT OF CHANGES IN NET
ASSETS AVAILABLE FOR BENEFITS

For the Year Ended December 31, 2012



Additions
 
   
Contributions:
 
     Employer, net of forfeitures
$   46,628 
     Employees
81,919 
Interest and investment income
6,814 
Interest income on notes receivable from participants
      1,797
   
Total additions
   137,158
   
Deductions
 
   
Payments to participants
      5,959
   
Total deductions
      5,959
   
Net realized and unrealized appreciation
 
    of investments
    55,053
   
Net increase in net assets available for benefits
186,252 
   
Net assets available for benefits at beginning of year
  414,743
   
Net assets available for benefits at end of year
$ 600,995









The accompanying notes are an integral
part of these financial statements



4

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS

For the Years Ended December 31, 2012 and 2011



1.           Description of the Plan

On November 15, 2011, the Phillips-Van Heusen Corporation Associates Investment Plan for Residents of the Commonwealth of Puerto Rico was amended to change the plan name to the PVH Associates Investment Plan for Residents of the Commonwealth of Puerto Rico (“the Plan”). The following description of the Plan provides only general information.  Participants should refer to the Plan Document for a more complete description of the Plan’s provisions.

Trustee and Recordkeeper

The Plan’s trustee is Charles Schwab Bank (the “Trustee”).  The Plan’s recordkeeper is Schwab Retirement Plan Services Company.

General

The Plan is a defined contribution plan covering salaried and hourly retail field workers who are residents of the Commonwealth of Puerto Rico who are at least age 21 or older, have completed the earlier of; at least three consecutive months of service and are regularly scheduled to work at least 20 hours per week; or have completed at least 1,000 hours of service during the first 12 months of employment or in any subsequent calendar year. The Plan is subject to the reporting and disclosure requirements of the Employer Retirement Income Security Act of 1974 (“ERISA”).

Contributions

Each year, participants may contribute up to 10% of pre-tax annual compensation, as defined by the Plan, up to the maximum amount allowed by law.  In addition, eligible participants who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions up to $1,500.  PVH Corp. (the “Company”) matches 100% of the first 1% of eligible compensation that a participant contributes to the Plan, plus 50% of the next 5% of eligible compensation contributed by the participant.

Participant Accounts

Each participant’s account is credited with the participant’s contributions and allocations of (a) the Company’s contributions and (b) Plan earnings.  Forfeited balances of terminated participants’ nonvested accounts are used to reduce future Company contributions.


                                                                               5

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



Vesting

Amounts attributable to employee contributions and the allocated earnings thereon are immediately vested.  Participants become 100% vested in Company contributions and the allocated earnings thereon after two years of service.  Upon death, permanent disability, or reaching age 65, participants or their beneficiaries become 100% vested in Company contributions.

Investment Options

Upon enrollment in the Plan, a participant may direct employee or Company contributions into any one of four pre-mixed asset allocation models or any of 11 individual investment options.  A participant may contribute a maximum of 25% of employee contributions for PVH Corp. Common Stock.

Notes Receivable from Participants

Participants may borrow from the Plan, with certain restrictions, using their vested account balance as collateral.  The minimum loan amount is $1,000 and the maximum loan amount is the lesser of (i) $50,000 reduced by the participant’s highest outstanding loan balance during the previous 12 months, or (ii) 50% of the vested value of the participant’s account. Interest is fixed for the term of the loan at the prime rate plus 1%.  Loan repayments are made through payroll deductions, which may be specified for a term of 1 to 5 years or up to 15 years for the purchase of a primary residence.  Upon termination of employment, a participant is given 90 days to repay the loan in full before it is considered to be in default. Delinquent loans are considered to be distributions based on the terms of the Plan document.  Participant loans are measured as the unpaid principal balance plus any accrued but unpaid interest.

At December 31, 2012, outstanding notes receivable from participants totaled $40,058, with maturity dates through 2017 at interest rates ranging from 4.25% to 8.25%.

Forfeitures

Contributions made on behalf of non-vested or partially vested employees who have terminated are retained by the Plan and are used to reduce the Company’s future matching contributions.  In 2012 and 2011, forfeitures of $385 and $1,127, respectively, were used to reduce the Company’s matching contributions.  At December 31, 2012 and 2011, forfeited non-vested accounts totaled $40 and $39, respectively.


6

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



Payment of Benefits

Participants electing final distributions will receive payment in the form of a lump sum amount equal to the value of their vested account unless the participant notifies the Company of their intent to receive all or a portion of their balance in the form of shares of PVH Corp. Common Stock.

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.  In the event of Plan termination, participants will become 100% vested in their accounts.

2.           Significant Accounting Policies

Basis of Accounting

The accompanying financial statements of the Plan were prepared using the accrual basis of accounting.

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.

Administrative Expenses

Substantially all administrative expenses are paid by the Company.

Investments

Investments are recorded in the accompanying financial statements at fair value.  See Note 4 for additional information.  Purchases and sales of securities are reflected on a trade date basis.  All assets of the Plan are held by the Trustee and are segregated from the assets of the Company.



7

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



In accordance with accounting guidance for defined contribution plans, investments in benefit-responsive investment contracts must be reported at fair value.  However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.  The Plan invests in investment contracts through a common/collective trust.  The Statements of Net Assets Available for Benefits present the fair value of the investments in the common/collective trust as well as the adjustment of the investment in the common/collective trust from fair value to contract value relating to the investment contracts.  The Statements of Changes in Net Assets Available for Benefits is prepared on a contract value basis.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued interest.

Recent Accounting Guidance

In May 2011, the FASB issued ASU 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, which amends ASC 820, Fair Value Measurement and Disclosures.   ASU 2011-04 requires the categorization by level in the fair value hierarchy of items that are only required to be disclosed at fair value and information about transfers between Level 1 and Level 2.  In addition, ASU 2011-04 provides guidance on measuring the fair value of financial instruments managed within a portfolio and the application of premiums and discounts on fair value measurements.  ASU 2011-04 requires additional disclosure for Level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationship between those inputs.  Such disclosures are not required for items for which fair value is based on NAV.  The new guidance was effective for reporting periods beginning after December 15, 2011.  The adoption did not have a material effect on the Statements of Net Assets Available for Benefits and Statement of Changes in Net Assets Available for Benefits. 

3.           Transactions with Parties-in-Interest

During the years ended December 31, 2012 and 2011, the Plan purchased 88 and 95 shares, respectively, and sold 55 and 113 shares of the Company’s common stock, respectively.  The Plan also received $129 and $124 during 2012 and 2011, respectively, from the Company as payment of dividends on its common stock.

8
PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



4.           Fair Value Measurements

The FASB defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date.  The guidance establishes a three level fair value hierarchy that prioritizes the inputs used to measure fair value.  The three levels of the hierarchy are defined as follows:

Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that management has the ability to access at the measurement date.

Level 2 – Observable inputs other than quoted prices included in Level 1, including quoted prices for identical assets or liabilities in inactive markets, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data.

Level 3 – Unobservable inputs reflecting management’s own assumptions about the inputs that market participant would use in pricing the asset or liability based on the best information available.

If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

















9

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



The following tables set forth the financial assets of the Plan by level within the fair value hierarchy, as of December 31, 2012 and 2011:

     
Fair Value Measurements at
     
December 31, 2012
Asset Category
 
Total
 
Quoted Prices
In Active
Markets for
Identical Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
                 
Common Collective Trust Funds:(1)
               
Stable Value
 
$ 214,285
 
$      -       
 
$ 214,285
 
$          -
U.S. Equity Index
 
9,272
 
-
 
9,272
 
-
Mutual Funds:(2)
               
U.S. Equity
 
99,169
 
99,169
 
-
 
-
International Equity
 
33,706
 
33,706
 
-
 
-
Fixed Income
 
88,291
 
88,291
 
-
 
-
Balanced
 
17,105
 
17,105
 
-
 
-
Real Estate
 
8,597
 
8,597
 
-
 
-
PVH Corp. Common Stock(3)
 
96,246
 
96,246
 
-
 
-
Money Market Funds(4)
 
          524
 
       -      
 
           524
 
       -      
                 
Total Investments Measured at Fair Value
 
$ 567,195
 
$ 343,114
 
$ 224,081
 
$       -      .
















10

 
 
PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



     
Fair Value Measurements at
 
     
December 31, 2011
 
Asset Category
 
Total
 
Quoted Prices
In Active
Markets for
Identical Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
                 
Common Collective Trust Funds:(1)
               
Stable Value
 
$ 169,383
 
$        -
 
$ 169,383
 
$         -
U.S. Equity Index
 
7,194
 
-
 
7,194
 
-
Mutual Funds:(2)
               
U.S. Equity
 
55,625
 
55,625
 
-
 
-
International Equity
 
16,712
 
16,712
 
-
 
-
Fixed Income
 
49,088
 
49,088
 
-
 
-
Balanced
 
12,273
 
12,273
 
-
 
-
Real Estate
 
4,982
 
4,982
 
-
 
-
PVH Corp. Common Stock(3)
 
58,789
 
58,789
 
-
 
-
Money Market Funds(4)
 
       1,432
 
       -      
 
       1,432
 
       -      
                 
Total Investments Measured at Fair Value
 
$ 375,478
 
$ 197,469
 
$ 178,009
 
$       -      .

(1)
Valued at the net asset value of the fund(s) as determined by a pricing vendor or the fund family.  The Plan has no unfunded commitments related to these common collective trust funds.  These funds invest in (a) guarantee contracts and instruments and (b) securities that make up the S&P 500 Index in the same proportion as the index.  These funds are redeemable on a daily basis without restriction.

(2)
Valued at the net asset value of the fund(s), as determined by the closing price in the active market in which the individual fund is traded.

(3)
Valued at the closing price of PVH Corp. Common Stock.

(4)
Valued at the net asset value of the fund(s), as determined by a pricing vendor or the fund family.  The Plan has no unfunded commitments related to these funds.  These funds invest in short-term, high quality fixed income securities issued by banks, corporations and the U.S. government and maintain a constant $1 net asset value.  These funds are redeemable on a daily basis without restriction.






11
PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



5.           Investments

During 2012, the Plan’s investments (including gains and losses on investments purchased and sold, as well as held during the year) appreciated in fair value as follows:

Mutual Funds
$ 17,388 
PVH Corp. Common Stock
33,687 
Common Collective Trust Funds
     3,978
   
 
$ 55,053

Investments that represent 5% or more of the fair value of the Plan’s net assets at the end of the plan year are as follows:

 
  2012
    2011
     
Wells Fargo Stable Return
$ 214,285 
$ 169,383 
PVH Corp. Common Stock
96,246 
58,789 
Metropolitan West Total Return Bond Fund
88,291 
49,088 
American Beacon Large Cap Value Fund
47,457 
25,601 
Mainstay Large Cap Growth
34,878 
-     

6.           Risks and Uncertainties

The Plan invests in various investment securities.  Investment securities are exposed to various risks such as interest rate, market and credit risks.  Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amount reported in the Statements of Net Assets Available for Benefits.










12

 
 

 

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

NOTES TO FINANCIAL STATEMENTS



7.           Income Tax Status

The Internal Revenue Service has determined and informed the Company by letter dated April 27, 1995, that the Plan and related trust is designed in accordance with the applicable sections of the Internal Revenue Code (“IRC”).  Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification.  Although the Plan has been amended since receiving the determination letter and the plan administrator believes that the Plan is designed and currently being operated in compliance with the applicable requirements of the IRC and therefore believes that the Plan is qualified and the related trust is tax-exempt.  The Plan administrator applied for a new determination letter on April 1, 2013 and is awaiting a response from the Puerto Rico Department of the Treasury.

8.           Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at December 31, 2012 and 2011:

 
2012
2011
Net assets available for benefits per the financial
 
statements
$ 600,995 
$ 414,743 
Less adjustment to contract value
      6,043
      4,238
     
Net assets available for benefits per the
   
Form 5500
$ 607,038
$ 418,981

















13

 
 

 

























SUPPLEMENTAL SCHEDULE

 
 

 

EIN: 13-1166910
Plan No: 014

PVH ASSOCIATES INVESTMENT PLAN FOR RESIDENTS
OF THE COMMONWEALTH OF PUERTO RICO

SCHEDULE H, LINE 4i--SCHEDULE OF ASSETS HELD AT YEAR END
AT FAIR VALUE

December 31, 2012
   
(c)
   
 
(b)
Description of investment
 
(e)
 
Identity of issuer, borrower,
including maturity date, rate of
(d)
Current
(a)
lessor or similar party
interest, collateral, par or maturity value
Cost
value
         
 
American Beacon Funds
American Beacon Large Cap Value Fund;
   
   
2,310.45 shares
**
$    47,457
 
Dodge & Cox Funds
Dodge & Cox Balanced Fund; 219.1250 shares
**
17,105
 
Federated Securities Corp.
Federated Capital Reserves Fund; 524.43 shares
**
524
 
Hartford Series Funds
Hartford HLS Small Cap Fund; 146.1180 shares
**
3,673
 
Lazard Funds
Lazard Funds Emerging Markets; 295.6830 shares
**
5,923
 
Mainstay Large Cap Growth
Mainstay Large Cap Growth; 4,414.9710 shares
 
34,878
 
Metropolitan West
Metropolitan West Total Return Bond Fund;
   
   
8,100.1090 shares
**
88,291
 
Neuberger & Berman
Neuberger & Berman Genesis Trust; 37.5260
**
1,902
   
Shares
   
 
State Street Global Advisors
State Street Bank S&P 500 Index Fund;
   
   
216.2750 shares
**
9,272
 
Thornburg Investment
Thornburg International Value Fund;
   
 
  Management
989.0710 shares
**
27,783
 
Virtus Mutual Funds
Virtus Real Estate Securities Fund; 246.2010 shares
**
8,597
 
Wells Fargo Funds
Wells Fargo Small Cap Value Fund; 348.6810
   
   
shares
**
11,259
 
Wells Fargo Funds
Wells Fargo Stable Return; 4,389.5930 shares
**
214,285
*
PVH Corp.
PVH Corp. Common Stock; 867.0 shares
**
     96,246
         
   
Total investments, at fair value
 
$ 567,195
         
 
Notes Receivable from    Participants
Participant Notes Receivable;  loans maturing at various dates through 2017 and bearing interest at rates from 4.25% to 8.25%
**
40,058

*   Party in interest
** Cost information is not required for participant-directed investments and therefore is not included.




          14

 
 

 

EXHIBIT INDEX


Exhibit No.
 
23.1
Consent of Independent Auditors



 
 

 

exhibit231consentofauditors.htm
EXHIBIT 23.1






Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 333-158327) pertaining to the PVH Associates Investment Plan of our report dated June 26, 2013, with respect to the financial statements of the PVH Associates Investment Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2012.



SPIELMAN KOENIGSBERG & PARKER, LLP


June 26, 2013