PVH Corp. to issue 2024 outlook below Street, says UBS

UBS says that while PVH Corp. is the best “self-help” stock within the softlines group, an uncertain global consumer spending environment will cause the company to give a conservative fiscal 2024 earnings guidance around $11.30-$11.40 per share, which is below the sell-side’s $12.10 estimate. If so, this could cause the Street’s 2024 estimates to fall, the analyst tells investors in a research note. However, the firm’s conversations with investors suggest they too expect a conservative guide. UBS sees a “slightly negative upside downside skew” into the print but keeps a Buy rating on PVH with a $158 price target.