MW Bad Bunny was a hit for Calvin Klein - but not enough to shield profit outlook from tariffs

By Bill Peters

PVH Corp., the parent of Calvin Klein and Tommy Hilfiger, cuts its 2025 profit outlook, citing tariffs

Shares of PVH Corp. fell after hours on Wednesday after the Calvin Klein and Tommy Hilfiger parent cut its full-year profit outlook, citing the impact of tariffs on shipments heading into the U.S.

Chief Executive Stefan Larsson, in a statement, said PVH (PVH) was "navigating an increasingly uncertain consumer and macroeconomic backdrop," adding "we're not yet fully able to offset that impact."

The forecast came as the company's first-quarter results topped Wall Street's expectations. Executives highlighted the viral ad campaign for a new underwear line earlier this year that featured rap megastar Bad Bunny, saying it was one of the company's "most impactful product launches in years."

PVH said it now expects adjusted earnings per share of $10.75 to $11 for its full year, down from an earlier outlook for $12.40 to $12.75. That outlook reflects "an estimated net negative impact related to the tariffs currently in place for goods coming into the U.S."

The company held to its revenue outlook over that time, which called for sales to land anywhere within a range of flat to a slight increase.

Shares were down 6.7% after hours on Wednesday.

"There is significant uncertainty with respect to global trade policies and the related impact on the broader macroeconomic environment, and, as such, the company's 2025 outlook could be subject to significant material change," PVH said.

Larsson said the company would focus on its better-performing products and get bolder with its marketing - moves that would help in the second half of the year.

Over the past 12 months, PVH's stock has fallen 34.7%, as of the close of trade on Wednesday.

-Bill Peters

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June 04, 2025 18:11 ET (22:11 GMT)

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