Calvin Klein Parent PVH's Stock Falls After Q2 Results: Sees Q3 Revenue Decline, Guides Q3 EPS Below Estimates
Portfolio Pulse from Erica Kollmann
PVH Corp. (NYSE:PVH) shares fell after reporting Q2 earnings that beat estimates but guiding Q3 revenue and EPS below expectations. Despite a 31.44% EPS beat, revenue declined 6.03% YoY. Challenges in Asia Pacific and strategic reductions in Europe impacted international sales. North American sales saw slight growth. PVH expects a 6-7% revenue decline in Q3 and adjusted its FY 2024 earnings outlook.
August 27, 2024 | 9:16 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
PVH Corp. reported Q2 earnings that exceeded expectations but guided Q3 revenue and EPS below estimates, leading to a 7.29% drop in after-hours trading. The company faces challenges in Asia Pacific and is strategically reducing sales in Europe.
PVH's Q2 earnings beat expectations, but the guidance for Q3 revenue and EPS was below estimates, causing a negative market reaction. The company's challenges in Asia Pacific and strategic sales reductions in Europe are significant factors impacting its performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100