Key facts
- PVH Corp. reported Q1 revenue of $2.025 billion.
- PVH Corp. beat EPS estimates for Q1.
- The company cut its full-year revenue outlook to flat.
- PVH Corp. shares fell over 26.5% overnight.
- The Schall Law Firm is investigating PVH Corp. officers and directors for potential breaches of fiduciary duty.
PVH Corp. announced its first-quarter financial results, reporting revenue of $2.025 billion and exceeding earnings per share estimates. Despite the positive Q1 performance, the company significantly reduced its full-year revenue outlook, projecting it to be flat. This downward revision led to a sharp decline in PVH Corp.'s stock price, with shares losing over 26.5% of their value in overnight trading. In response to the company's performance and outlook, The Schall Law Firm, a national shareholder rights litigation firm, has initiated an investigation into the officers and directors of PVH Corp. for potential breaches of fiduciary duty. Investors who purchased PVH Corp. securities are eligible to participate in this investigation.