PVH Corp. announced its intent to enter into Accelerated Share Repurchase (ASR) agreements totaling $500 million of its common stock. This program will be executed under the company's existing $5.0 billion stock repurchase authorization, which had $1.8 billion available as of February 2, 2025.
The ASR is estimated to repurchase approximately 7.7 million shares, representing about 14% of the company’s weighted average diluted shares outstanding during the fourth quarter of fiscal year 2024. The final number of shares will be determined upon settlement in the third quarter of fiscal 2025.
The transaction is expected to be financed by approximately $350 million of cash on hand and up to $150 million in short-term debt. PVH anticipates repaying this short-term debt by the end of fiscal year 2025, maintaining debt levels in line with fiscal year-end 2024.
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