Headlines

Phillips-Van Heusen to Close 175 Stores

Apparel brand maker will also lay off 400 workers after 4Q loss

Published

15 years ago

January 23, 2009

VMSD Staff

Phillips-Van Heusen Corp. (New York), owner of the Calvin Klein, Izod, Bass and Van Heusen clothing brands, has announced it will close 175 stores and lay off 400 employees due to the recession.

The company expects the moves will save about $40 million per year before taxes.

The company said it will be reporting a fourth quarter loss and an 8-10 percent drop in same-store sales.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design