PVH Cuts Full-Year Revenue Outlook to Flat, Citing Middle East Conflict Impact on EMEA Sales
PVH sits 32% above its 52-week low of $59.6 on elevated volume (2.5× avg).
Summary
PVH Corp. has cut its full-year revenue outlook, now expecting sales to be approximately flat compared to previous guidance of a slight increase. The company also forecasts a 3-4% decrease in second-quarter revenue. This revision, which follows the 8-K filed earlier today, is primarily due to the prolonged impact of the Middle East conflict on its EMEA business. While Q1 earnings beat expectations and the company expects a $100 million tariff refund, these benefits are outweighed by the challenging macro environment in Europe, Middle East, and Africa.
At the time of this announcement, PVH was trading at $78.50 on NYSE in the Trade & Services sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $59.60 to $100.75. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.