NEW YORK — Lower U.S. sales at Tommy Hilfiger Corp. cut into Tommy Hilfiger’s fiscal 2003 compensation, while former chief executive officer Joel Horowitz’s pay was reduced by lower corporate earnings.

Hilfiger’s salary last year fell 8 percent to $20.6 million from $22.4 million a year ago. That’s because his compensation is tied to the net revenues of TH USA and its subsidiaries. While overall corporate revenues rose 0.6 percent to $1.89 billion, net revenues of TH USA and affiliated firms dipped 7.7 percent to $1.15 billion. As usual, Hilfiger took no bonus.

Horowitz saw his salary plus bonus fall by almost a quarter, or 22.5 percent, to $8.3 million from $10.7 million last year. While his salary remained constant at $662,678, Horowitz’s bonus is tied to operating earnings and fell 24 percent to $7.6 million from $10 million last year as the firm posted a loss before taxes and items of $69.4 million.

Under his contract, Horowitz receives a bonus equal to 5 percent of the firm’s “consolidated earnings before depreciation, interest on financing of fixed assets, non-operating expenses and taxes.” As reported, he recently relinquished the post of ceo to former Lands’ End ceo David Dyer.

Last year, Levi Strauss & Co. ceo Phil Marineau supplanted Hilfiger as the top earner among executives at U.S.-based apparel firms.

Pay levels at Hilfiger were disclosed in a proxy filing with the Securities and Exchange Commission. Hilfiger’s annual meeting will take place Nov. 3 at The Sandy Lane Hotel in St. James, Barbados, the proxy said.

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