CEO of Calvin Klein Parent Buys $1 Million of Stock

PVH stock is in the red so far this year, and CEO Stefan Larsson just bought shares of the parent of Calvin Klein. (Victor J. Blue/Bloomberg)

Shares of the parent of Calvin Klein and Tommy Hilfiger are trading near a multiyear low, and the CEO of PVH bought a large block of stock on the open market.

After the market closed June 4, the company cut guidance, citing “tariffs currently in place for goods coming into the U.S.” CEO Stefan Larsson said in the earnings release that “we are navigating an increasingly uncertain consumer and macroeconomic backdrop—and given where we are on our brand-building journey, we’re not yet fully able to offset that impact.” The next day, PVH stock dived 18%, dropping to $66.30. Shares have lost about a third of their value this year, and are trading near an April low of $59.28—a level that shares last traded at in November 2022.

Shares haven’t fully recovered since the pullback. On June 26, Larsson paid $1 million for 15,645 PVH shares, an average price of $63.92. He now owns 269,438 PVH shares, according to a form Larsson filed with the Securities and Exchange Commission.

In response to a request for comment, PVH said in an emailed statement, “This purchase is a reflection of Mr. Larsson’s belief in PVH, and in the company’s ability to continue to deliver long-term value as we make important progress on our multiyear growth strategy, the PVH+ Plan.”

Larsson has been CEO since February 2021, and was previously CEO of Ralph Lauren.

Larsson last purchased PVH stock on the open market nearly three years ago, in September 2022, when he paid $1 million for 18,540 shares, an average price of $53.94.

Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at edward.lin@barrons.com