PVH stock drops 22% after guidance cut triggers analyst downgrades

Shares of PVH Corp. came under heavy pressure after the apparel company lowered its full-year revenue outlook, with analysts warning that the latest update could lead to additional estimate cuts despite better-than-expected quarterly earnings. The owner of the Tommy Hilfiger and Calvin Klein brands saw its stock fall more than 22%, putting the shares on track for their steepest one-day decline in more than two years.