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

Reuters

Apr 01, 2025

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

** Shares of Tommy Hilfiger-parent PVH Corp PVH.N up ~17% at $75.40 in premarket trading

** Company forecasts annual sales and profit above analysts' estimates

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

** "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

** Up to last close, stock down nearly 39% so far this year

(Reporting by Ananya Mariam Rajesh in Bengaluru)

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

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