By  on August 21, 2009

Phillips-Van Heusen Corp. increased its cash balance by $109.1 million over the past year, bringing it to $369.6 million at the end of the second quarter — and now the firm is looking to spend it.

On a conference call with analysts on Thursday to discuss the quarter’s results, PVH chief executive officer Emanuel Chirico said the money is likely earmarked for potential acquisitions.

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