PVH Corp. shares drop 23% due to lower-than-expected full-year sales guidance, predicting a 6-7% revenue decline in 2024.
PVH Corp., owner of the Tommy Hilfiger and Calvin Klein brands, sees shares plummet 23% after issuing a full-year sales guidance that fell short of expectations. The company predicts a revenue decline of 6-7% in 2024, citing a challenging macroeconomic backdrop, particularly in Europe. Despite Q4 profitability surpassing analyst estimates, PVH has faced difficulties in maintaining revenue growth in certain regions.
April 01, 2024
12 Articles