Company’s revised forecast leads to decline in stock price

  • PVH shares down 5.5% after lowering revenue expectations
  • Revenue expected to increase 1% for the year, down from previous forecast of 3% to 4%
  • Fourth-quarter revenue expected to decline in the range of 3% to 4%
  • Reduction in fourth-quarter performance due to sale of Heritage Brands intimate apparel business

Shares of PVH fell 5.5% to $86.50 in after-hours trading following the company’s announcement of lowered revenue expectations. PVH, the owner of Calvin Klein and Tommy Hilfiger, now expects a 1% increase in revenue for the year, down from its previous forecast of 3% to 4%. The company also anticipates a decline in fourth-quarter revenue in the range of 3% to 4%. This reduction in performance is attributed to the sale of PVH’s Heritage Brands intimate apparel business, which was completed in August 2021.

Factuality Level: 8
Factuality Justification: The article provides specific information about PVH lowering its revenue expectations for the year and the reasons behind it. The information is clear and does not contain any obvious bias or misleading information. However, it lacks additional context or analysis that could provide a more comprehensive understanding of the situation.
Noise Level: 8
Noise Justification: The article provides relevant information about PVH lowering its revenue expectations for the year and the reasons behind it. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It also does not provide evidence or data to support its claims. The article stays on topic and does not dive into unrelated territories, but it is relatively short and lacks comprehensive coverage of the topic.
Financial Relevance: Yes
Financial Markets Impacted: Shares of PVH
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of PVH, a company that owns Calvin Klein and Tommy Hilfiger. The company’s lowered revenue expectations for the year and the expected decline in revenue for the fiscal fourth quarter have impacted its shares, which dropped 5.5% in after-hours trading. However, there is no mention of an extreme event in the article.
Public Companies: PVH (PVH)
Key People:

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Reported publicly: www.marketwatch.com