Its forecast for hard luxury sales in 2017 went from minus 1.0 percent to plus 2.0 percent, in part due to the end of excessive stocking in regions like Asia.
Executive chairman Howard Schultz shared his vision for the company during a recent luncheon in New York.
The executives, which took on new roles in 2015, settled into new pay rates last year.
Retail, luxury stocks were also down.
Sears will offer the Regatta Great Outdoors apparel brand in the fall.
The ratings firm said Gap’s outperformance, coupled with prudent financial policies, have things looking up for the retailer.
Even though the European business has yet to hit the $1 billion mark, ceo Emanuel Chirico is looking well beyond that milestone.
Hollister comps were up 3%, but Abercrombie’s were down 10%.
Sears posted Q1 profits due to cost cutting, but ended up in the red after adjustments.
Retail, luxury stocks were uneven.
International sales for both brands were strong in the first quarter, but profits for PVH were down sharply from a year ago.