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TheStreet Open House

Phillips-Van Heusen's CEO Presents At 14th Annual ICR XChange Conference (Transcript)

Stocks in this article: PVH

Phillips-Van Heusen Corporation (PVH)

14th Annual ICR XChange Conference Call

January 12, 2011 2:00 pm ET

Executives

Emanuel Chirico – Chairman and Chief Executive Officer

Analysts

Robert Ohmes – Bank of America/Merrill Lynch

Presentation

Robert Ohmes – Bank of America/Merrill Lynch

We’re good. Okay, everybody, I’m Robbie Ohmes from Bank of America Merrill Lynch. I’m the Apparel and Footwear analyst here. It is my privilege to introduce Phillips-Van Heusen Corp. We have Manny Chirico, Chairman and CEO. I think a lot of you know him. We also have Dana Perlman, who heads up Treasury and IR for the company. With that, I’ll turn it over to Manny.

Emanuel Chirico

Thanks, Robbie. We get started here. Safe Harbor, I’m sure as the lawyers have told me, I can tell you, you make sure you read this. It basically says about all our filings are online; they’re available, financials, where we need. So just bring that to your attention as we go forward.

These are just talks about us from our performance post the Tommy transaction. How that has really changed us on a pro forma basis about $5.3 billion in revenues at the time of the acquisition. Today, the company consolidated guidance was to be about $5.8 billion to $5.9 billion in revenues.

When you look at how we are broken out as a company, this gives you a real sense of the business, 51% of our revenues are Tommy, 31% are Heritage, and about 20% is Calvin Klein. And when you look at the profitability, the point I’d really make here is that our Heritage business is over 80%, our Calvin and Tommy business represent over 80% of our profits. And by the time we get to the year-end this year, I’d expect it to be closer to 85%.

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