By  on August 21, 2008

Phillips-Van Heusen Corp. on Wednesday posted a drop in second-quarter profits due in part to declines in the wholesale and retail heritage brand businesses that were offset by strong growth in its Calvin Klein licensing operation.

For the three months ended Aug. 3, income declined by 25.3 percent to $29.2 million, or 56 cents a diluted share, from $39.1 million, or 68 cents, in the same year-ago period. Earnings were also negatively impacted by $5 million in start-up costs associated with the firm’s Timberland wholesale men’s sportswear business and Calvin Klein specialty retail stores.

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