Why PVH Stock Plunged Today

PVH Corp stock fell 20.25% after the fashion conglomerate warned of declining sales in its Europe, Middle East, and Africa division due to ongoing Middle East tensions. While the company reported a 2% revenue increase to $2 billion in Q1 and grew direct-to-consumer sales by 6%, adjusted operating income declined from $160 million to $131 million. Management expects Q2 revenue to fall 3-4% as regional consumer spending weakens.