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

Shares of Tommy Hilfiger-parent PVH Corp PVH.N up as much as 19.9% at $77.52 in the morning trade

Company forecasts annual sales and profit above analysts' estimates

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

If gains hold, stock set for best day since March 2023

"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

Including session moves, stock down about 28% so far this year