Tommy Hilfiger U.S.A. Issues Statement
24 September 2004 - 11:31PM
PR Newswire (US)
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.
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