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Investing.com -- Shares in PVH Corp (NYSE:PVH), the parent company of Tommy Hilfiger, have seen a premarket slump of 8.4%, falling to $74 on Thursday as the company lowered its forecast for both second-quarter and full-year adjusted earnings per share (EPS).
PVH Corp now predicts that its Q2 adjusted EPS will land between $1.85 and $2. This is a drop from the previously estimated $2.08, according to data compiled by LSEG.
Additionally, the company has cut back its full-year adjusted EPS to a range of $10.75 to $11. This is a significant decrease from the previous range of $12.40 to $12.75.
Zac Coughlin, the Chief Financial Officer of PVH Corp, attributed the lowered outlook to the current macroeconomic conditions.
He stated, "Navigating a highly dynamic and uncertain macroeconomic environment... decreasing our outlook to reflect that backdrop and current performance of business."
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