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PVH jumps on strong annual forecasts, $500 mln share buyback

ReutersApr 1, 2025 12:46 PM

Shares of Tommy Hilfiger-parent PVH Corp PVH.N up ~17% at $75.40 in premarket trading

Company forecasts annual sales and profit above analysts' estimates

PVH had said on Friday it plans to repurchase shares worth $500 million in 2025

"The company is seeing positive indicators across its global business with North American profitability remaining strong, the European order book returning to growth in fall 2025," says Telsey Advisory Group

PVH's forecast stands out among the swath of conservative estimates issued by apparel makers and retailers overall - brokerage

TD Cowen raises price target to $125 from $110; BMO cuts PT to $93 from $106, citing gross margin contraction in Q4 due to increased promos and higher freight costs

Up to last close, stock down nearly 39% so far this year

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