Categories: Headlines

Phillips-Van Heusen to Close 175 Stores

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.

VMSD Staff

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