On June 4, PVH Corp declined 20.66% in regular trading, trading at $77.645/share, with trading volume of $216 million. The sharp sell-off was triggered by the company's decision to lower its full-year guidance despite reporting first-quarter results that exceeded Wall Street expectations.
PVH posted Q1 revenue of $2.03 billion versus the consensus estimate of $2.0 billion, driven by strong direct-to-consumer performance. Adjusted earnings per share came in at $2.01, beating estimates of $1.87 by approximately 7.5%, though representing a 12.6% year-over-year decline from $2.30. However, the company simultaneously cut its full-year outlook, incorporating the projected long-term negative impact of the Middle East conflict. PVH now expects fiscal year revenue to remain essentially flat versus the prior year, maintaining its non-GAAP operating margin forecast at approximately 8.8%.
Adding to the pressure, Evercore ISI downgraded PVH from Outperform to In Line, slashing its price target from $95 to $79. The FactSet analyst consensus maintains an average target of $94.18.
PVH Corp is a global apparel company operating in over 40 countries, with flagship brands TOMMY HILFIGER and Calvin Klein contributing the vast majority of revenue.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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