Tommy Hilfiger & Calvin Klein Parent PVH Corp. Stock Tumbles On Tuesday - Here's Why
Portfolio Pulse from Nabaparna Bhattacharya
PVH Corp. (NYSE:PVH) shares fell after issuing weak Q1 guidance despite beating Q4 earnings and revenue expectations. The company reported Q4 earnings of $3.72 per share and revenues of $2.49 billion, with Tommy Hilfiger and Calvin Klein seeing revenue increases. However, PVH projects a Q1 EPS of $2.15 and a revenue decrease of about 11%, with a full-year revenue decrease of 6% to 7%. The board approved a $2.0 billion increase to the stock repurchase program.
April 02, 2024 | 1:53 pm
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PVH Corp. shares tumbled following weak Q1 guidance despite strong Q4 performance. The company anticipates a Q1 EPS of $2.15 and an 11% revenue decline, with a full-year revenue decrease of 6% to 7%.
The negative short-term impact on PVH's stock price is primarily due to the company's weak guidance for Q1 and the full year, overshadowing its strong Q4 performance. Investors typically react negatively to forecasts of declining revenues and earnings, which can lead to a decrease in stock price.
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