Earnings Beat Expectations, But Stock Plummets 21%... PVH Loses 800 Billion Won in a Day

On June 4 in New York trading, PVH Corporation (NYSE: PVH) shares plunged 21.02% from the previous close, ending the day at $77.40. Its market capitalization fell to approximately $3.57 billion (about ₩5 trillion), erasing roughly $620 million (about ₩860 billion) in a single session. Trading volume surged past 2.88 million shares.

In its Q1 2026 results announced the day before, PVH reported revenue of $2.025 billion (around ₩2.8 trillion) and adjusted EPS of $2.01, modestly topping analyst expectations. However, the company disappointed investors by lowering its full-year sales outlook from modest growth to essentially flat. Despite attributing the revision to ongoing headwinds—such as prolonged conflict in the Middle East and softness in wholesale channels—concerns over a slowdown in growth prompted the shares to gap down at the open.

Founded as Phillips‐Van Heusen, PVH is a U.S. fashion group headquartered in New York, whose portfolio includes Calvin Klein and Tommy Hilfiger and whose operations span global apparel and accessories. Under CEO Stefan Larsson’s “PVH+” strategy, the company has been executing profitability‐focused restructuring, but an economic slowdown and heightened geopolitical risks have again put market confidence in its near‐term growth story to the test.