Ralph Lauren Corp

NYSE:RLUnited States

1858 ET - The U.S. consumer approach to retail shopping is expected to remain lackluster over the next 90 days, UBS analysts say in a research note. New data show spending intentions for softgoods is flat when compared to April 2023, dropping 1.9% from April 2022. The American consumer remains under pressure due to inflation, the analysts say, noting that expectations around Mother's Day are weaker vs. 2017, 2018, 2019, 2022 and 2023. Plus, clothing is one of the less popular gifts, the analysts say. UBS likes the stocks of Deckers Outdoor, Ralph Lauren, Signet Jewelers and Skechers over Children's Place, Foot Locker, VF Corp and Victoria's Secret. (sabela.ojea@wsj.com; @sabelaojeaguix)

By Jack Hough

Underpants armageddon descended on Wall Street this past Tuesday, as shares of Calvin Klein owner PVH dropped 22%. Hanesbrands sagged some 11% in sympathy.

PVH sees current-quarter revenue falling 11% year-on-year, a wider decline than analysts are expecting. "Heard on the Street: Calvin Klein Owner PVH Bares Harsh Reality -- WSJ," at 11:45 a.m. ET on April 2, incorrectly said PVH's expectation was less than what analysts expected.