New York, June 3, 2026, 19:03 EDT
- PVH dropped 18.7% to $79.00 after hours after finishing the NYSE session at $98.00.
- Pvh Corp., which owns Calvin Klein and Tommy Hilfiger, cut its full-year revenue outlook to about flat, saying it’s seeing pressure in Europe, the Middle East, and Africa.
- First-quarter revenue and adjusted earnings beat forecasts. The company gave a second-quarter sales outlook that came in below expectations.
PVH Corp shares dropped 18.7% to $79.00 in after-hours trading Wednesday after the company cut its full-year revenue outlook. The owner of Calvin Klein and Tommy Hilfiger had edged up 0.85% to finish the session at $98.00, but the lowered guidance took the focus off a first-quarter earnings beat.
PVH shares had already climbed 46% this year before the earnings release, with investors adding to positions ahead of results. Then, the company said it now sees weaker sales momentum in Europe, the Middle East and Africa than it had guided before.
PVH cut its full-year revenue outlook, now saying it expects revenue to be roughly flat instead of seeing a slight rise. The company cited lasting fallout from the Middle East conflict and wider macro headwinds in EMEA—Europe, the Middle East and Africa.
PVH is sticking with its full-year adjusted EPS outlook at $11.80 to $12.10. The company uses adjusted, or non-GAAP, numbers to remove items management says are not tied to the main business.
PVH posted Q1 revenue of $2.025 billion, beating FactSet’s $2.00 billion estimate, and adjusted earnings at $2.01 per share, ahead of the $1.82 forecast. That’s up 2% year over year, according to MT Newswires on MarketScreener.
PWH gave a downbeat outlook even after its beat. For the second quarter, the group projected revenue would drop 3% to 4%, or 4% to 5% on a constant-currency basis, which takes out exchange effects. Adjusted earnings are seen at $3.00 to $3.10 per share.
PVH CEO Stefan Larsson said the company is facing “two opposing forces”—brand momentum at Calvin Klein and Tommy Hilfiger, but also pressure on the EMEA consumer from Middle East conflict. Interim CFO Melissa Stone called the quarter an example of execution in a “highly dynamic operating environment.” PVH
Some parts of the business did better. Direct-to-consumer revenue, which includes PVH’s own stores and websites, gained 6%—stores and e-commerce both up. APAC revenue climbed 10% on a reported basis, with some of the boost coming from Lunar New Year timing.
PVH faces more than just geopolitics if revenue keeps falling. Softer EMEA demand, more promos, or weaker wholesale orders could force PVH to do more than rely on tariff refunds and cost cuts to defend margins. The company’s operating margin goal for the full year still bakes in about a 100-basis-point lift from tariff refunds, with one basis point equal to one-hundredth of a percent.
PVH is forecasting at least $300 million in share buybacks for this year, but didn’t repurchase any stock during the first quarter. The company also said it will recognize about $100 million in IEEPA tariff refunds in the second quarter.
Shares of PVH fell after the close, a move that stood out from rivals. At the same market-data timestamp, Ralph Lauren dropped 1.2% and Coach owner Tapestry gained 0.6%. Neither stock mirrored PVH’s decline.
PVH filed its results with the U.S. Securities and Exchange Commission on Wednesday. Management will talk about the numbers on a conference call Thursday morning. The question now is if investors see the EMEA warning as a one-time issue or as another concern for a stock that moved up going into earnings.
