Phillips-Van Heusen Corporation Reports 2009 First Quarter Results

* First Quarter Revenue and EPS Exceed Company`s Guidance and Consensus Estimate
* Cash Position Improves $98 Million over Prior Year
* Full Year EPS Guidance Improved

NEW YORK--(Business Wire)--
Phillips-Van Heusen Corporation (NYSE: PVH) reported 2009 first quarter results.

Non-GAAP Amounts:

The discussions in this release that refer to non-GAAP amounts exclude the items
which are described below under the heading "Non-GAAP Exclusions."
Reconciliations of GAAP to non-GAAP amounts are presented in the tables later in
this release.

First Quarter Results

* Earnings per share was $0.53 on a non-GAAP basis, which exceeded the high end
of the Company`s guidance and the consensus estimate. GAAP earnings per share
was $0.48. The prior year`s first quarter earnings per share was $0.89 on a
non-GAAP basis. GAAP earnings per share was $0.90 in the prior year`s first
quarter.
* Revenue was $557.4 million, which exceeded the high end of the Company`s
guidance. This amount represents a 7% decrease compared to the prior year`s
first quarter revenue on a non-GAAP basis of $601.8 million, which excludes
$23.9 million of revenue associated with the Company`s exited Geoffrey Beene
outlet retail division. On a GAAP basis, revenue decreased 11%.

Revenue in the Calvin Klein licensing business increased 1% from the prior
year`s first quarter, with global licensee royalty growth of 6% on a constant
currency basis offset by a $3.5 million negative impact of a stronger U.S.
dollar. The royalty growth on a constant currency basis was principally
attributable to strong performance in jeans, footwear, dresses and underwear,
partially offset by a sales reduction in the fragrance business, which continues
to be adversely affected by declines in travel and discretionary consumer
spending resulting from the difficult economic environment.

Combined revenue of the Company`s wholesale and retail businesses of $476.8
million decreased 8% compared to the prior year`s revenue on a non-GAAP basis of
$520.3 million, which excludes $23.9 million of revenue associated with the
Company`s exited Geoffrey Beene outlet retail division. On a GAAP basis,
combined revenue of the Company`s wholesale and retail businesses decreased 12%.
The Company`s wholesale and retail businesses continued to be negatively
affected by the economic slowdown and the tightening of inventory levels by
department stores. The Company`s outlet retail comparable stores sales were down
8% in the first quarter.

Earnings before interest and taxes in the current quarter was $53.8 million on a
non-GAAP basis. This represents a decrease of approximately 35% as compared to
the prior year and resulted from the revenue decline in the Company`s wholesale
and retail businesses, combined with reductions in gross margin due to
promotional selling needed to drive sales and maintain clean inventories.
Earnings before interest and taxes in the Calvin Klein licensing business was
relatively flat when compared to the prior year. On a GAAP basis, earnings
before interest and taxes decreased 41% to $49.1 million in the first quarter of
2009.

Balance Sheet

The Company ended the first quarter with $282.0 million in cash, an increase of
$97.8 million from the prior year`s first quarter. Inventories ended the quarter
on plan and down 5% from the prior year.

2009 Guidance

The estimates below reflect the Company`s belief that the difficult economic
conditions will continue during the second and third quarters of 2009, with a
moderate improvement taking place in the fourth quarter of the year.

Full Year Guidance

Given the Company`s first quarter results, the Company is revising its earnings
guidance by raising the low end of the full year range. The Company is currently
projecting 2009 earnings per share to be in a range of $2.05 to $2.30 on a
non-GAAP basis, which excludes approximately $10 million of pre-tax costs
associated with the Company`s restructuring initiatives. Given the continued
uncertainty about the economic environment, however, the Company believes it is
prudent to maintain the top end of the guidance range at its prior level. On a
GAAP basis, the Company is currently projecting its 2009 earnings per share to
be in a range of $1.93 to $2.18.

Total revenue for 2009 continues to be projected in a range of $2.30 billion to
$2.33 billion, a decrease of approximately 3% to 4% from the Company`s 2008
revenue on a non-GAAP basis of $2.40 billion, which excludes approximately $95
million of revenue associated with the Company`s exited Geoffrey Beene outlet
retail division. On a GAAP basis, 2009 revenue is currently projected to
decrease approximately 7% to 8% from 2008.

The Company is currently projecting Calvin Klein royalty revenue to be
relatively flat in 2009, as anticipated full year global licensee royalty growth
of 4% on a constant currency basis is expected to be offset by a negative full
year impact of $9 million to $12 million from a stronger U.S. dollar. Combined
revenue of the Company`s wholesale and retail businesses is currently projected
to decrease 3% to 4% in 2009 compared to the prior year amount on a non-GAAP
basis, which excludes approximately $95 million of revenue associated with the
Company`s exited Geoffrey Beene outlet retail division. The percentage decrease
in combined revenue of the Company`s wholesale and retail businesses on a GAAP
basis is estimated to be in a range of 8% to 9%. These sales declines are net of
approximately $35 million of sales attributable to 2008 and 2009 Calvin Klein
store openings, the latter principally related to the conversion of a limited
number of Geoffrey Beene outlet retail store locations. The Company`s retail
businesses are currently estimating 2009 comparable store sales declines of 6%
to 7%.

Second Quarter Guidance

For the second quarter of 2009, earnings per share is currently expected to be
$0.35 to $0.45 on a non-GAAP basis, which excludes approximately $5 million of
pre-tax costs associated with the Company`s restructuring initiatives. GAAP
earnings per share for the second quarter currently is expected to be $0.29 to
$0.39.

Second quarter revenue is currently expected to be approximately $510 million to
$520 million in 2009, or down 3% to 5% compared to 2008 revenue on a non-GAAP
basis of $535 million, which excludes approximately $26 million of revenue
associated with the Company`s exited Geoffrey Beene outlet retail division.
Second quarter 2009 revenue is expected to decrease approximately 7% to 9% from
2008 GAAP revenue.

The Company is currently projecting Calvin Klein royalty revenue to be down 2%
to 4% in the second quarter, as anticipated global licensee royalty growth of 4%
on a constant currency basis is expected to be more than offset by a $3 million
to $4 million negative impact of a stronger U.S. dollar.

The percentage decline in combined revenue of the Company`s wholesale and retail
businesses is projected to be approximately 2% to 4% compared to the prior year
amount on a non-GAAP basis, which excludes approximately $26 million of revenue
associated with the Company`s exited Geoffrey Beene outlet retail division. The
percentage decrease on a GAAP basis is estimated to be in a range of 7% to 9%.
The Company`s retail businesses are estimating 2009 second quarter comparable
store sales declines of 7% to 9%.

Cash Flow

Cash flow for 2009 remains at an estimate of $65 million to $75 million, which
is after approximately $40 million of estimated capital spending.

CEO Comments

Commenting on these results, Emanuel Chirico, Chairman and Chief Executive
Officer, noted, "Given the difficult economic environment and the resulting
pressure on consumer spending that persisted during the first quarter, we were
pleased that we were able to exceed our previous earnings guidance. Our first
quarter performance, which had anticipated a continuation of fourth quarter
trends, was somewhat better than planned. Business remains challenging, but our
diversified business strategy and the strength of our brands allowed us to
outperform our projections."

Mr. Chirico continued, "Our financial position is strong and we ended the first
quarter with $282 million of cash, a $98 million increase over the prior year.
We have no outstanding borrowings under our revolving credit facility and no
maturities of long-term debt until 2011. We remain focused on maintaining a
strong balance sheet through our vigilant management of working capital and
cautious capital spending, while investing appropriately in our brands for
long-term growth."

Mr. Chirico concluded, "As we saw during the first quarter, the consumer is
responding positively to the value that our brands deliver and we believe that
this will continue to serve us well during the year. We continue to believe that
2009 will be challenging and are prudently planning our businesses accordingly.
We are focused on making sure that inventory levels are in line with our
customers` sales plans and are maintaining tight controls over operating
expenses. The Calvin Klein brand continues to grow worldwide, though it also has
been impacted by the economic slowdown and the relative strength of the U.S.
dollar. As we look ahead, we believe our solid financial position, the strength
of our brands and the efficiency of our business platform provide us with the
ability to navigate through these difficult times and to emerge well-positioned
to take advantage of growth opportunities when economic conditions improve."

Non-GAAP Exclusions

Exclusions used in calculating measures on a non-GAAP basis consist of the
following:

* Costs associated with the Company`s restructuring initiatives announced in the
fourth quarter of 2008, including the shutdown of the Company`s domestic
production of machine-made neckwear, a realignment of the Company`s global
sourcing organizational structure, reductions in warehousing capacity and other
initiatives to reduce corporate and administrative expenses. Such costs
associated with these initiatives are as follows:

* Pre-tax costs of approximately $10.0 million in 2009, $4.7 million of which
was incurred in the first quarter and $5.3 million of which is expected to be
incurred in the second quarter.
* Pre-tax costs of $17.8 million that were incurred in the fourth quarter of
2008. In addition, pre-tax non-cash fixed asset impairment charges of $63.8
million were recorded in the fourth quarter of 2008 that principally related to
approximately 200 of the Company`s retail stores.

* The 2008 operating results and exit costs associated with the Company`s
Geoffrey Beene outlet retail division, which was exited during 2008. The net
pre-tax costs related to the operating results and exit costs associated with
the Company`s Geoffrey Beene outlet retail division were $17.7 million for the
full year in 2008, of which $0.6 million in pre-tax income relates to the first
quarter and $8.7 million in pre-tax costs relates to the second quarter. Revenue
related to the Geoffrey Beene outlet retail division was $94.9 million for the
full year 2008, of which $23.9 million relates to the first quarter and $25.9
million relates to the second quarter.

Please see reconciliations of GAAP to non-GAAP amounts later in this release.

The Company webcasts its conference calls to review its earnings releases. The
Company`s conference call to review its first quarter earnings release is
scheduled for Wednesday, May 20, 2009 at 9:00 a.m. EST. Please log on either to
the Company`s web site atwww.pvh.com and go to the News Releases page or to
www.companyboardroom.com to listen to the live webcast of the conference call.
The webcast will be available for replay for one year after it is held,
commencing approximately two hours after the live broadcast ends. Please log on
to www.pvh.com or www.companyboardroom.com as described above to listen to the
replay. In addition, an audio replay of the conference call is available for 48
hours starting one hour after it is held. The replay of the conference call can
be accessed by calling 1-888-203-1112 and using passcode #4759592. The
conference call and webcast consist of copyrighted material. They may not be
re-recorded, reproduced, re-transmitted, rebroadcast or otherwise used without
the Company`s express written permission. Your participation represents your
consent to these terms and conditions, which are governed by New York law.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: Forward-looking statements in this press release and made during the
conference call / webcast, including, without limitation, statements relating to
the Company`s future revenue, earnings and cash flows, plans, strategies,
objectives, expectations and intentions, are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Investors
are cautioned that such forward-looking statements are inherently subject to
risks and uncertainties, many of which cannot be predicted with accuracy, and
some of which might not be anticipated, including, without limitation, the
following: (i) the Company`s plans, strategies, objectives, expectations and
intentions are subject to change at any time at the discretion of the Company;
(ii) the levels of sales of the Company`s apparel, footwear and related
products, both to its wholesale customers and in its retail stores, the levels
of sales of the Company`s licensees at wholesale and retail, and the extent of
discounts and promotional pricing in which the Company and its licensees and
other business partners are required to engage, all of which can be affected by
weather conditions, changes in the economy, fuel prices, reductions in travel,
fashion trends, consolidations, repositionings and bankruptcies in the retail
industries, repositionings of brands by the Company`s licensors and other
factors; (iii) the Company`s plans and results of operations will be affected by
the Company`s ability to manage its growth and inventory, including the
Company`s ability to continue to develop and grow the Calvin Klein businesses in
terms of revenue and profitability; (iv) the Company`s operations and results
could be affected by quota restrictions and the imposition of safeguard controls
(which, among other things, could limit the Company`s ability to produce
products in cost-effective countries that have the labor and technical expertise
needed), the availability and cost of raw materials (particularly
petroleum-based synthetic fabrics, which are currently in high demand), the
Company`s ability to adjust timely to changes in trade regulations and the
migration and development of manufacturers (which can affect where the Company`s
products can best be produced), and civil conflict, war or terrorist acts, the
threat of any of the foregoing, or political and labor instability in the United
States or any of the countries where the Company`s products are or are planned
to be produced; (v) disease epidemics and health related concerns, which could
result in closed factories, reduced workforces, scarcity of raw materials and
scrutiny or embargoing of goods produced in infected areas; (vi) acquisitions
and issues arising with acquisitions and proposed transactions, including
without limitation, the ability to integrate an acquired entity into the Company
with no substantial adverse affect on the acquired entity`s or the Company`s
existing operations, employee relationships, vendor relationships, customer
relationships or financial performance; (vii) the failure of the Company`s
licensees to market successfully licensed products or to preserve the value of
the Company`s brands, or their misuse of the Company`s brands and (viii) other
risks and uncertainties indicated from time to time in the Company`s filings
with the Securities and Exchange Commission.

This press release includes, and the conference call/webcast will include,
certain non-GAAP financial measures, as defined under SEC rules. A
reconciliation of these measures is included in the financial information later
in this release, as well as in the Company`s Current Report on Form 8-K
furnished to the SEC in connection with this earnings release, which is
available on the Company`s website at www.pvh.com and on the SEC`s website at
www.sec.gov.

The Company does not undertake any obligation to update publicly any
forward-looking statement, including, without limitation, any estimate regarding
revenue, earnings or cash flows, whether as a result of the receipt of new
information, future events or otherwise.

PHILLIPS-VAN HEUSEN CORPORATION
Consolidated Income Statements
(In thousands, except per share data)
Quarter Ended Quarter Ended
5/3/09 5/4/08
Results Results
Under Non-GAAP Under Non-GAAP
GAAP Adjustments(1) Results GAAP Adjustments(2) Results

Net sales $ 475,745 $ 475,745 $ 543,169 $ 23,855 $ 519,314
Royalty revenue 58,918 58,918 59,988 59,988
Advertising and other revenue 22,762 22,762 22,541 22,541
Total revenue $ 557,425 $ 557,425 $ 625,698 $ 23,855 $ 601,843

Gross profit on net sales $ 190,146 $ (800 ) $ 190,946 $ 228,261 $ 13,315 $ 214,946
Gross profit on royalty, advertising
and other revenue 81,680 81,680 82,529 82,529
Total gross profit 271,826 (800 ) 272,626 310,790 13,315 297,475

Selling, general and administrative
expenses 222,712 3,920 218,792 230,081 12,736 217,345

Gain on sale of investments 1,864 1,864

Earnings (loss) before interest
and taxes 49,114 (4,720 ) 53,834 82,573 579 81,994

Interest expense, net 7,860 7,860 6,512 6,512

Pre-tax income (loss) 41,254 (4,720 ) 45,974 76,061 579 75,482

Income tax expense (benefit) 16,543 (1,812 ) 18,355 29,260 214 29,046

Net income (loss) $ 24,711 $ (2,908 ) $ 27,619 $ 46,801 $ 365 $ 46,436

Diluted net income per share(3) $ 0.48 $ 0.53 $ 0.90 $ 0.89

(1) Adjustments for the quarter ended May 3, 2009 represent the elimination of
the costs associated with the Company`s restructuring initiatives announced in
the fourth quarter of 2008, including the shutdown of domestic production of
machine-made neckwear, a realignment of the Company`s global sourcing
organizational structure, reductions in warehousing capacity and other
initiatives to reduce corporate and administrative expenses.

(2) Adjustments for the quarter ended May 4, 2008 represent the elimination of
the operations of the Company`s Geoffrey Beene outlet retail division, which the
Company exited during 2008.

(3) Please see Note 2a to the Notes to Consolidated Income Statements for a
reconciliation of diluted net income per share.

Notes to Consolidated Income Statements:

1. The Company believes presenting its 2009 results excluding the costs
associated with the Company`s restructuring initiatives announced in the fourth
quarter of 2008 and its 2008 results excluding the operating results of the
Company`s Geoffrey Beene outlet retail division, which both are on a non-GAAP
basis, provides useful additional information to investors. The Company believes
that the exclusion of such amounts facilitates comparing current results against
past and future results by eliminating amounts that it believes are not
comparable between periods, thereby permitting management to evaluate
performance and investors to make decisions based on the ongoing operations of
the Company. The Company believes that investors often look at ongoing
operations of an enterprise as a measure of assessing performance. The Company
uses its results excluding these amounts to evaluate its operating performance
and to discuss its business with investment institutions, the Company`s Board of
Directors and others. Such results are also the basis for certain incentive
compensation calculations.

2a. The Company computed its quarterly diluted net income per share as follows:

(In thousands, except per share data)

Quarter Ended Quarter Ended
5/3/09 5/4/08
Results Results
Under Non-GAAP Under Non-GAAP
GAAP Adjustments Results GAAP Adjustments Results

Net income (loss) $ 24,711 $ (2,908 )(1) $ 27,619 $ 46,801 $ 365((2 )) $ 46,436

Weighted average common
shares outstanding 51,511 51,511 51,337 51,337
Weighted average impact of
dilutive securities 371 371 942 942

Total shares 51,882 51,882 52,279 52,279

Diluted net income per share $ 0.48 $ 0.53 $ 0.90 $ 0.89

(1) Represents the impact on net income from the elimination of the costs
associated with the Company`s restructuring initiatives announced in the fourth
quarter of 2008, including the shutdown of domestic production of machine-made
neckwear, a realignment of the Company`s global sourcing organizational
structure, reductions in warehousing capacity and other initiatives to reduce
corporate and administrative expenses.

(2) Represents the impact on net income from the elimination of the operating
results of the Company`s Geoffrey Beene outlet retail division, which the
Company exited during 2008.

PHILLIPS-VAN HEUSEN CORPORATION
Consolidated Balance Sheets
(In thousands)
May 3, May 4,
2009 2008
ASSETS
Current Assets:
Cash and Cash Equivalents $ 282,005 $ 184,223
Receivables 222,521 257,837
Inventories 281,489 294,956
Other Current Assets 62,504 53,889
Total Current Assets 848,519 790,905
Property, Plant and Equipment 188,754 242,691
Goodwill and Other Intangible Assets 1,130,304 1,079,375
Other Assets 26,603 44,739
$ 2,194,180 $ 2,157,710

LIABILITIES AND STOCKHOLDERS` EQUITY
Accounts Payable and Accrued Expenses $ 315,304 $ 291,733
Other Liabilities 455,872 462,778
Long-Term Debt 399,572 399,556
Stockholders` Equity 1,023,432 1,003,643
$ 2,194,180 $ 2,157,710

PHILLIPS-VAN HEUSEN CORPORATION
Business Data
(In thousands)
Quarter Ended Quarter Ended
5/3/09 5/4/08
Results Results
Under Non-GAAP Under Non-GAAP
GAAP Adjustments(1) Results GAAP Adjustments(2) Results
Revenue - Wholesale and Retail
Net sales $ 470,204 $ 470,204 $ 536,031 $ 23,855 $ 512,176
Royalty revenue 5,158 5,158 6,245 6,245
Advertising and other revenue 1,445 1,445 1,895 1,895
Total 476,807 476,807 544,171 23,855 520,316

Revenue - Calvin Klein Licensing
Royalty revenue 53,760 53,760 53,743 53,743
Advertising and other revenue 21,317 21,317 20,646 20,646
Total 75,077 75,077 74,389 74,389

Revenue - Other(3)
Net sales 5,541 5,541 7,138 7,138
Total 5,541 5,541 7,138 7,138

Total Revenue
Net sales 475,745 475,745 543,169 23,855 519,314
Royalty revenue 58,918 58,918 59,988 59,988
Advertising and other revenue 22,762 22,762 22,541 22,541
Total $ 557,425 $ 557,425 $ 625,698 $ 23,855 $ 601,843

Earnings (loss) before interest
and taxes - Wholesale and Retail $ 29,860 $ (3,947 ) $ 33,807 $ 61,401 $ 579 $ 60,822

Earnings before interest and
taxes -Calvin Klein Licensing 35,709 35,709 35,346 35,346

Loss before interest and
taxes - Other(3) (16,455 ) (773 ) (15,682 ) (14,174 ) (14,174 )

Earnings (loss) before interest
and taxes $ 49,114 $ (4,720 ) $ 53,834 $ 82,573 $ 579 $ 81,994

The domestic and international components of earnings (loss) before interest and
taxes were as follows:

Quarter Ended Quarter Ended
5/3/09 5/4/08
GAAP Adjustments(1) Non-GAAP GAAP Adjustments(2) Non-GAAP

Domestic $31,234 $(4,106) $35,340 $57,348 $579 $56,769
% 64% 87% 66% 69% 100% 69%
International 17,880 (614) 18,494 25,225 25,225
% 36% 13% 34% 31% 31%
Total $49,114 $(4,720) $53,834 $82,573 $579 $81,994
% 100% 100% 100% 100% 100% 100%

(1) Adjustments for the quarter ended May 3, 2009 represent the elimination of
the pre-tax costs associated with the Company`s restructuring initiatives
announced in the fourth quarter of 2008, including the shutdown of domestic
production of machine-made neckwear, a realignment of the Company`s global
sourcing organizational structure, reductions in warehousing capacity and other
initiatives to reduce corporate and administrative expenses.

(2) Adjustments for the quarter ended May 4, 2008 represent the elimination of
the operations of the Company`s Geoffrey Beene outlet retail division, which the
Company exited during 2008.

(3) The results of the Company`s Calvin Klein Collection wholesale business and
corporate expenses not allocated to any reportable segments are included in
Other.

PHILLIPS-VAN HEUSEN CORPORATION

Reconciliations of GAAP to non-GAAP 2009 Estimates

The Company believes presenting its estimated 2009 results excluding the costs
associated with its restructuring initiatives announced in the fourth quarter of
2008, which is on a non-GAAP basis, provides useful additional information to
investors. The Company believes that the exclusion of such amounts facilitates
comparing current results against past and future results by eliminating amounts
that it believes are not comparable between periods, thereby permitting
management to evaluate performance and investors to make decisions based on the
ongoing operations of the Company. The Company believes that investors often
look at ongoing operations of an enterprise as a measure of assessing
performance. The Company has provided the reconciliations set forth below to
present its estimates of earnings per share on a GAAP basis and excluding these
amounts. The Company uses its results excluding these amounts to evaluate its
operating performance and to discuss its business with investment institutions,
the Company`s Board of Directors and others. The Company`s earnings per share
excluding these amounts is also the basis for certain incentive compensation
calculations. Additionally, the Company believes presenting its 2009 revenue
change from 2008 excluding Geoffrey Beene outlet retail, which is on a non-GAAP
basis, provides useful additional information to investors by eliminating
amounts that it believes are not comparable between periods due to the closure
of the Geoffrey Beene outlet retail division.

2009 Full Year Earnings Per Share

GAAP earnings per share estimated range $1.93 - $2.18

Estimated per share impact of restructuring initiatives
(pre-tax charges of approximately $10.0 million, or $6.2 million after-tax) $0.12

Estimated earnings per share range excluding restructuring initiatives $2.05 - $2.30

2009 Second Quarter Earnings Per Share

GAAP earnings per share estimated range $0.29 - $0.39

Estimated per share impact of restructuring initiatives
(pre-tax charges of approximately $5.3 million, or $3.3 million after-tax) $0.06

Estimated earnings per share range excluding restructuring initiatives $0.35 - $0.45

Full Year Revenue
(dollar amounts in millions)
Consolidated Company Combined Wholesale and
Retail Businesses
2009 2008 % Change 2009 2008 % Change

GAAP revenue $2,300.0 - $2,325.0 $2,491.9 (8)% - (7)% $1,980.0 - $2,000.0 $2,166.4 (9)% - (8)%

Geoffrey Beene outlet retail
division revenue $ 94.9 $ 94.9

Revenue excluding Geoffrey
Beene outlet retail division $2,300.0 - $2,325.0 $2,397.1 (4)% - (3)% $1,980.0 - $2,000.0 $2,071.6 (4)% - (3)%

Second Quarter Revenue
(dollar amounts in millions)
Consolidated Company Combined Wholesale and
Retail Businesses
2009 2008 % Change 2009 2008 % Change

GAAP revenue $510.0 - $520.0 $561.0 (9)% - (7)% $440.0 - $450.0 $485.0 (9)% - (7)%

Geoffrey Beene outlet retail
division revenue $ 25.9 $ 25.9

Revenue excluding Geoffrey
Beene outlet retail division $510.0 - $520.0 $535.0 (5)% - (3)% $440.0 - $450.0 $459.1 (4)% - (2)%

Phillips-Van Heusen Corporation
Michael Shaffer, 212-381-3523
Executive Vice President and Chief Financial Officer
www.pvh.com

Copyright Business Wire 2009