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Tommy Hilfiger U.S.A. Issues Statement
NEW YORK, Sept. 24 /PRNewswire-FirstCall/ -- Tommy Hilfiger U.S.A., Inc.
("THUSA"), a wholly-owned subsidiary of Tommy Hilfiger Corporation (NYSE: TOM),
announced that it received yesterday a grand jury subpoena issued by the U.S.
Attorney's Office for the Southern District of New York seeking documents
generally relating to THUSA's domestic and/or international buying office
commissions since 1990. Certain of THUSA's current and former employees have
also received subpoenas. THUSA pays buying office commissions to a non-U.S.
subsidiary of Tommy Hilfiger Corporation to provide or otherwise secure certain
services, including product development, sourcing, production scheduling and
quality control functions. It appears that the investigation is focused on
whether the commission rate is appropriate.
THUSA is responding to the investigation, including by providing documents
requested by the subpoena. THUSA is unable to predict the timing or outcome of
the investigation.
Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and
markets men's and women's sportswear, jeanswear and childrenswear under the
Tommy Hilfiger trademarks. Through a range of strategic licensing agreements,
the Company also offers a broad array of related apparel, accessories,
footwear, fragrance and home furnishings. The Company's products can be found
in leading department and specialty stores throughout the United States,
Canada, Europe, Mexico, Central and South America, Japan, Hong Kong, Australia
and other countries in the Far East, as well as the Company's own network of
outlet and specialty stores in the United States, Canada and Europe.
CONTACT:
Investor Relations Public Relations
Joseph Scirocco/Valerie Martinez Ruth Pachman/Wendi Kopsick
(212) 548-1570/1811 (212) 521-4891/4867
DATASOURCE: Tommy Hilfiger U.S.A., Inc.
CONTACT: Investors, Joseph Scirocco, +1-212-548-1570, or Valerie
Martinez, +1-212-548-1811, or Public Relations, Ruth Pachman, +1-212-521-4891,
or Wendi Kopsick, +1-212-521-4867, all for Tommy Hilfiger U.S.A., Inc.