PVH CORP. /DE/ (PVH): Results of Operations and Financial Condition

Broadcom (AVGO) fell 3.5% after issuing soft Q4 revenue guidance, while Snowflake (SNOW) jumped 21% on strong Q2 results and upbeat guidance. Hewlett Packard (HPE) dropped 1% despite a beat-and-raise report. NetApp (NTAP) fell 7% post-earnings, and Netskope (NTSK) rose 16% on strong Q2 results. ChargePoint (CHPT) surged 16%, Five Below (FIVE) rose 3%, and Tilly’s (TLYS) skyrocketed 32% on strong earnings. PVH Corp. (PVH) dropped 3% on slightly lowered guidance, and Ultragenyx (RARE) plummeted 40

Bank of America Securities downgraded PVH Corp (NYSE:PVH) to Underperform from Neutral and cut its price target to $70 from $90, citing weaker Europe demand and sales/margin headwinds in the Middle East and Turkey. Citi kept a Neutral rating but lowered its target to $78 from $80, citing a weak Q2 start. Analysts expect 2026 EBIT margins to stay flat.

Bank of America downgraded PVH Corp. to “Underperform” from “Neutral” and cut its price target to $70 from $90, citing PVH’s heavy exposure to EMEA (about 50% of sales) and a potentially slower regional recovery. The bank reduced 2026–2028 earnings estimates by 1%–3% and lowered its 2027 EV/EBITDA multiple to 4x. It expects EBIT margin flat in 2026 despite ~$100M tariff refunds.

PVH, the Calvin Klein and Tommy Hilfiger parent, cut its full-year 2026 revenue outlook, now expecting reported revenue to be approximately flat versus its prior slight increase; on a constant-currency basis, revenue is expected to decline slightly. Management cited prolonged Middle East conflict effects hurting EMEA wholesale demand and traffic. PVH reported Q1 revenue of $2.025B and non-GAAP EPS of $2.01.

PVH Corp., parent of Calvin Klein and Tommy Hilfiger, cut full-year expectations after the Middle East conflict reduced wholesale demand and weakened consumer spending in Europe (EMEA), according to the company. Q1 revenue rose 10% in Asia-Pacific but EMEA revenue rose 2%. PVH now expects EMEA revenue to fall mid-single digits in constant currency.

PVH Corp. reported Q1 2026 revenue of about $2.03 billion and adjusted EPS of $2.01, which it said beat expectations. However, it cut full-year revenue guidance to flat growth, citing war-related impacts on its EMEA business. PVH shares fell about 26.5% on June 4, and Evercore ISI downgraded PVH and cut its price target to $79.