PVH slides after forecasting second-quarter profit below estimates

Shares in Tommy Hilfiger parent PVH Corp PVH.N slump 8.4% to $74 premarket

Co forecasts Q2 adj. EPS between $1.85 and $2, below estimates of $2.08 - data compiled by LSEG

Also trims FY adj. EPS to between $10.75 and $11, down from previous range of $12.40-$12.75

"Navigating a highly dynamic and uncertain macroeconomic environment... decreasing our outlook to reflect that backdrop and current performance of business" - CFO Zac Coughlin

BMO Capital Markets says increased promos, unfavorable channel mix and higher freight pressuring co's gross margins

Brokerage trims PT to $84 from $93

Average rating of 15 analysts remains "buy", median PT at $92 - data compiled by LSEG

Stock down over 23% YTD, till last close