By George Glover

PVH stock was plummeting on Thursday after the owner of Tommy Hilfiger and Calvin Klein cut its full-year revenue outlook, warning the Iran war would dent sales in Europe, the Middle East, and Africa.

Shares tumbled 21% to $77.80 ahead of the opening bell. Futures tracking the S&P 500 were 0.5% lower after so-so guidance from chip maker Broadcom halted the artificial-intelligence rally.

PVH now expects flat revenue growth for fiscal 2026, compared with the slight increase it had previously forecast. Analysts polled by FactSet had been expecting revenue growth of about 0.8%.

CEO Stefan Larsson said the company was "balancing two opposing forces: on one side, the increasing brand and business momentum we are driving in both Calvin and TOMMY, and on the other, the prolonged effects of the Middle East conflict."

PVH is one of the few U.S.-listed companies to slash its guidance due to the Iran war.

The EMEA region made up about 47% of sales over the first quarter, well above the equivalent figure for rivals Ralph Lauren and Abercrombie & Fitch.

The guidance cut overshadowed a first-quarter earnings beat. PVH reported an adjusted profit of $2.01 a share, as revenue rose 2.5% from a year ago to $2.03 billion.

Wall Street was looking for earnings of $1.82 a share on sales of $2 billion.

Write to George Glover at george.glover@dowjones.com

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June 04, 2026 08:26 ET (12:26 GMT)

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