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PVH [Phillips-Van Heusen Corp.] TO SHUTTER 200 OUTLETS.( )

NEW YORK -- Phillips-Van Heusen Corp. Thursday continued its shift toward higher-margin businesses by disclosing plans to shut about 200 factory outlet stores and exit the wholesale footwear business.

In a statement, Bruce Klatsky, chairman and chief executive of PVH, noted that "the cash generated from exiting these underperforming businesses will support our strategic initiatives to capitalize on the growth opportunities for the Calvin Klein brand and further enhance our wholesale dress shirt and sportswear businesses."

PVH, the world's largest marketer of dress shirts, acquired Calvin Klein this year and is in the process of launching and licensing various ...

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