Restructuring moves in its wholesale and retail divisions left Phillips-Van Heusen Corp. with a fourth-quarter loss, but its Calvin Klein licensing operation boosted results despite a small decline in royalties.
For the three months ended Feb. 1, the New York-based firm incurred a net loss of $37.9 million, or 74 cents a diluted share, versus net income of $30.3 million, or 55 cents, in the year-ago quarter. Stripping out $53.6 million in after-tax charges to cover items including the downsizing of the retail division and the elimination of domestic machine-made neckwear production, the company posted a profit of 30 cents a share, 2 cents higher than expected by analysts.
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