Shares of PVH Corp (PVH) plummeted 5.83% in after-hours trading on Wednesday, despite reporting better-than-expected first-quarter results. The sharp decline came as the company significantly lowered its full-year earnings guidance, citing the impact of tariffs on its business.

PVH reported first-quarter revenue of $1.984 billion, up 2% from the previous year and exceeding the company's own guidance. Non-GAAP earnings per share came in at $2.30, surpassing the projected range of $2.10 to $2.25. The company's EMEA segment performed particularly well, with revenue increasing by 5% compared to the prior year period.

However, the positive Q1 results were overshadowed by PVH's revised full-year outlook. The company now expects full-year earnings per share to be in the range of $10.75 to $11.00, a substantial reduction from its previous guidance of $12.40 to $12.75. This new projection falls well below the FactSet analyst consensus of $12.41 per share. PVH explicitly cited the impact of tariffs as the reason for the guidance cut, signaling growing concerns about the effect of trade tensions on the apparel industry.