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American fashion house, Calvin Klein seen in a Macy's...
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PVH leaps after Jefferies says a comeback is brewing for Calvin Klein’s parent company

Analysts say the legacy apparel giant is turning a corner thanks to buzzy campaigns and new leadership.

Nia Warfield

PVH  shares jumped as much as 9% after Jefferies upgraded the stock to “buy” from “hold” and raised its price target to $105 from $70, saying the fashion conglomerate is showing signs of a comeback. The company is home to legacy apparel brands including Calvin Klein and Tommy Hilfiger, but has struggled in recent years as fashion competition heats up.

Jefferies’ optimism comes as PVH rolls out new brand leadership, sees improving wholesale demand in Europe (which makes up half its revenue), and gains early traction on cost cuts. Meanwhile, high-profile campaigns with celebs like Bad Bunny and Kendall Jenner are helping boost Calvin’s cool factor. Margin expansion and tighter inventory are also laying the groundwork for more consistent growth.

“We believe the risk/reward is skewed positively,” Jefferies wrote, adding that “a resolution in China or continued momentum in core sales could serve as meaningful catalysts.” In February, PVH was added to China’s “unreliable entities” list, which could force it to shut down stores in the country, stop manufacturing, and send its employees home. While PVH already got some tariff relief with the recent trade truce, the company still appears to be on that unreliable entities list even after China removed 17 US companies from it for 90 days.

Analysts now forecast PVH’s earnings to grow 7% this year and another 13% in 2026. The stock is up nearly 24% over the past month.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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