PVH Corp’s stock rises the most in three months


PVH Corp’s stock rises the most in three months

by Angela Gonzalez-Rodriguez
Jun. 16, 2016

PVH Corp, Calvin Klein and Tommy Hilfiger manufacturer, saw its stock climb the most in three months after its chief executive made positive comments about the retail group’s recent performance.

"Our department store business here in the United States has actually been very good, particularly with our two big brands, Calvin and Tommy," said PVH (PVH.N) CEO Manny Chirico at a retail conference in New York.

In this vein, PVH Corp’s CEO said the Calvin Klein brand is having strong sales "in just about every store, including Macy's," which helped shares of the embattled retailer gain as much as 4.5 percent in morning trading, reported Bloomberg.

As highlighted by analysts following the stock, PVH shares jumped almost 5 percent, the most since March, while the price reached 100 dollars apiece, the highest it has been since October.

"We are seeing slightly better trends in the second quarter," Chirico said referring to the company he leads stronger-than-expected overall retail sales numbers seen in April and May.

Chirico’s comments also lifted other stocks within the apparel trade, including the likes of Kohl’s and Nordstrom.