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

PVH

01/04/2025 15:52

Updates

** 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

(Reporting by Ananya Mariam Rajesh in Bengaluru)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))