USA: Shirt Firm Phillips-Van Heusen Reports Profit Slide
Leading shirt manufacturer Phillips-Van Heusen Corp on Tuesday posted a 12 per cent slide in fourth quarter sales compared to the year-ago period and attributed the fall to the economic slowdown. The clothing firm, which sells apparel under its Van Heusen, Bass and Izod brands, as well as labels such as DKNY, Geoffrey Beene and Kenneth Cole, posted earnings before charges of $3.9m, or 14 cents a share, compared with $6.6m, or 24 cents, in the year prior.
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