Hilfiger grapples with slump

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Tommy Hilfiger Corp., New York, announced several moves to fight off a financial slump, including hiring an investment banker to review possible acquisitions. The apparel company said it will postpone the fall launch of a women's career line, Hilfiger by Tommy Hilfiger, and restructure its retail stores to expand and relocate outlets in major cities. Hilfiger also hired Morgan Stanley Dean Witter & Co. to review strategic options including acquisitions and new businesses; the company didn't elaborate on the study but said results are expected in early March. Hilfiger, one of the few apparel companies viewed favorably by Wall Street, posted only a 2.2% increase in net income for the quarter ended Dec. 31.; the company blamed department store holiday promotions.

Copyright February 2000, Crain Communications Inc.

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