Phillips-Van Heusen Corp. shares slid 13.1 percent Tuesday after the company forecasted fourth-quarter and 2008 earnings below Wall Street expectations.
The apparel maker said in its earnings release after the market closed Monday that it expects fourth-quarter earnings in the range of 51 cents to 53 cents a diluted share, and 2008 earnings in the range of $3.55 to $3.65 a diluted share. Wall Street was predicting 55 cents in the fourth quarter and $3.66 for 2008.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"