Apparel company PVH Corp. will replace Big Lots Inc. in the Standard & Poor’s 500 Index on a date to be determined later, S&P said in a statement today.
Big Lots will take PVH’s spot in the S&P MidCap 400 Index, and CommVault Systems Inc. will replace Warnaco Group Inc. in that index. PVH, the New York-based owner of the Tommy Hilfiger brand, is acquiring Warnaco in a transaction expected to be completed soon, S&P said. Big Lots, the Columbus, Ohio-based discount retailer with a market value under $2 billion, is better suited for the midcap gauge, S&P said.
Titan International Inc. will replace CommVault Systems in the S&P SmallCap 600.
Primerica Inc. will take the spot of Shaw Group Inc. in the MidCap 400 benchmark after the close of trading on Feb. 12. Chicago Bridge & Iron Co. is buying Shaw Group in a deal expected to be completed around the date of the index change, the statement said.