By and  on June 26, 2009

NEW YORK — Phillips-Van Heusen Corp. is freezing development of Calvin Klein full-price retail stores as the company continues to downsize its outlet retail operation, Emanuel Chirico, PVH chairman and chief executive officer, said Thursday.

Although Calvin Klein is a highly profitable growth engine for PVH, contributing $154.6 million, or 46 percent, of operating income in 2008, PVH’s outlet retail business has been a drag on financial performance.

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