MANUFACTURING – WINNERS AND LOSERS
October 1st, 2010
BY KEITH NUTHALL
WINNERS
PHILIPS-VAN HEUSEN
This was a Champagne year for Philips-Van Heusen, owner of Calvin Klein, Arrow, Bass and, since May, Tommy Hilfiger. Its acquisition of Netherlands-based Tommy Hilfiger helped it more than double sales for the third quarter - to $1.5bn, (although profits slipped year-on-year to $80.7m from $86.6m the previous year). But that is yesterday, and with Tommy Hilfiger in its portfolio, Philips-Van Heusen will be the company to watch in 2011. After the $3bn sale Hilfiger CEO Fred Gehring declared: "This is an ...
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