PVH Cuts FY Earnings Outlook, Stock Down 6%

(RTTNews) - While reporting its results for the third quarter, PVH Corp. (PVH) revised its outlook for the full year, sending its shares down over 6% in the after-hours trading.

Looking forward, the company now expects earnings of $10.55 to $10.70 per share, compared to previous guidance of $11.20 to $11.45 per share. On an adjusted basis, the company now expects earnings of $11.55 to $11.70 per share, compared previous guidance was a range of $11.55 to $11.80 per share.

The company reaffirmed its revenue guidance of decrease of 6% to 7% compared to 2023.

Analysts polled by Thomson Reuters currently estimate earnings of $11.72 per share and revenues to decrease by 6.45%.