78239--3/31/2010--PHILLIPS_VAN_HEUSEN_CORP_/DE/

related topics
{customer, product, revenue}
{property, intellectual, protect}
{condition, economic, financial}
{personnel, key, retain}
{product, market, service}
{operation, international, foreign}
{provision, law, control}
{cost, operation, labor}
{competitive, industry, competition}
{debt, indebtedness, cash}
{product, liability, claim}
{product, candidate, development}
Recent and future economic conditions, including turmoil in the financial and credit markets, may adversely affect our business. A substantial portion of our revenue and gross profit is derived from a small number of large customers and the loss of any of these customers could substantially reduce our revenue. We may not be able to continue to develop and grow our Calvin Klein business in terms of revenue and profitability. The success of Calvin Klein depends on the value of our Calvin Klein brands, and if the value of those brands were to diminish, our business could be adversely affected. Our level of debt could impair our financial condition. Our business is exposed to foreign currency exchange rate fluctuations. We primarily use foreign suppliers for our products and raw materials, which poses risks to our business operations. If our manufacturers fail to use acceptable ethical business practices, our business could suffer. Our reliance on independent manufacturers could cause delay and damage customer relationships. We are dependent on a limited number of distribution facilities. If one becomes inoperable, our business, financial condition and operating results could be negatively impacted. A significant portion of our revenue is dependent on royalties and licensing. Our licensing business makes us susceptible to the actions of third parties over whom we have limited control. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop. We may be unable to protect our trademarks and other intellectual property rights. Our success is dependent on the strategies and reputation of our licensors. We face intense competition in the apparel industry. The loss of members of our executive management and other key employees could have a material adverse effect on our business. Acquisitions may not be successful in achieving intended benefits and synergies. Provisions in our certificate of incorporation and our by-laws and Delaware General Corporate Law could make it more difficult to acquire us and may reduce the market price of our common stock.

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