PVH (NYSE: PVH ) is the S&P 500's' newest component. The company's stock replaces that of Big Lots (NYSE: BIG ) on the bellwether index. Formerly, PVH was a component of the same organization's MidCap 400 index; its place will be taken by Big Lots.
PVH, a clothing manufacturer headquartered in New York, will also occupy a spot on the S&P 500's apparel, accessories, and luxury goods sub-industry index.
S&P did not specify when these changes would take place. In the past year, the company's stock has outperformed the index, advancing 55% against the S&P 500's 12%.