01:43 PM EDT, 04/02/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

PVH (PVH) shares fell 23% in recent Tuesday trading, a day after the company forecast declines in Q1 and 2024 sales.

The company reported Monday non-GAAP Q4 net income of $3.72 per diluted share, up from $2.38 a year earlier.

Analysts polled by Capital IQ expected $3.52.

Revenue in the quarter ended Feb. 4 was $2.49 billion, unchanged from a year earlier.

Analysts expected $2.42 billion.

In Q1, the apparel company projects revenue to decline 11% from a year earlier. In 2024, it sees revenue slipping 6% to 7% from 2023.

Analysts forecast revenue of $2.08 billion in Q1 and $9.15 billion in 2024.

Price: 107.04, Change: -32.69, Percent Change: -23.40