USA: Tommy Hilfiger Q3 Pre-Tax Income Plummets By 58.6%
Beleaguered Tommy Hilfiger Corp on Wednesday reported a 58.6 per cent drop in third-quarter income before taxes. The Hong Kong-based corporation, which is facing a federal tax probe, also cut its pre-tax income forecast for fiscal 2005, and said that from autumn it will no longer distribute its H Hilfiger collections to US department stores but will shift this business to a new specialty store concept it plans to develop.
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