Stock of PVH Corp. (PVH) is dropping around 27 percent on Thursday morning, possibly influenced by the company's decision yesterday to cut its revenue outlook for the full year 2026.
The company's stock is currently trading at $71.17, down 27.42 percent or $26.94, over the previous close of $98.02 on the New York Stock Exchange. It has traded between $59.60 and $100.75 in the past one year.
The company now expects revenue to be approximately flat year-over-year, compared with its previous forecast for a slight increase. However, the company swung to profit in the first quarter, reporting a net income of $88.0 million, or $1.90 per share, compared with a net loss of $44.8 million, or $0.88 per share, in the prior year.
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