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<SEC-DOCUMENT>0000078239-05-000024.txt : 20050627
<SEC-HEADER>0000078239-05-000024.hdr.sgml : 20050627
<ACCEPTANCE-DATETIME>20050627154248
ACCESSION NUMBER:		0000078239-05-000024
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041231
FILED AS OF DATE:		20050627
DATE AS OF CHANGE:		20050627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHILLIPS VAN HEUSEN CORP /DE/
		CENTRAL INDEX KEY:			0000078239
		STANDARD INDUSTRIAL CLASSIFICATION:	MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS [2320]
		IRS NUMBER:				131166910
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0129

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07572
		FILM NUMBER:		05917515

	BUSINESS ADDRESS:	
		STREET 1:		200 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		2123813500

	MAIL ADDRESS:	
		STREET 1:		200 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>elevenkpr62005.htm
<TEXT>
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<HEAD>
<TITLE>Financial Statements</TITLE>
<META NAME="author" CONTENT="William B. Daniel">
<META NAME="date" CONTENT="06/27/2005">
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<P style="margin-top:14pt; margin-bottom:28pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, DC 20549</B></P>
<P style="margin-top:0pt; margin-bottom:24pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>_____________</B></P>
<P style="margin-top:14pt; margin-bottom:28pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>FORM 11-K</B></P>
<P style="margin-top:14pt; margin-bottom:98pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>ANNUAL REPORT<BR>
PURSUANT TO SECTION 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin:0pt; font-family:Times New Roman"><B>(Mark One):</B></P>
<P style="margin-top:12pt; margin-bottom:0pt; padding-right:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt"><B>&#253;</B><FONT FACE="Times New Roman Bold"><B> &nbsp;ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996].</B></FONT></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><B><BR></B></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>For the fiscal year ended <U>&nbsp;&nbsp;&nbsp;December 31, 2004</U></B></P>
<B><U><P style="margin-top:0pt; margin-bottom:12pt; text-indent:432pt; font-family:Times New Roman; font-size:12pt"><BR></U></B></P>
<P style="margin-top:0pt; margin-bottom:24pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>OR</B></P>
<P style="margin-top:12pt; margin-bottom:0pt; line-height:14pt; font-family:Wingdings; font-size:12pt"><B>o</B><FONT FACE="Times New Roman"><B> &nbsp;TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED].</B></FONT></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><B><BR></B></P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>For the transition period from __________ to __________</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:72pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Commission file number <U>&nbsp;&nbsp;&nbsp;1-724&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>A. &nbsp;Full title of the plan and the address of the plan, if different from that of the issuer named below: &nbsp;<U>PVH Associates Investment Plan For Residents Of The Commonwealth Of Puerto Rico</U></B></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B><U><BR></U></B></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>B. &nbsp;Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: <U>Phillips-Van Heusen Corporation, 200 Madison Avenue, New York, New York 10016</U></B></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B><BR></B></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin-top:14pt; margin-bottom:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>SIGNATURES</B></P>
<P style="margin-top:12pt; margin-bottom:48pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><I>The Plan.</I> &nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<B><P style="margin:0pt; text-indent:194.4pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">PHILLIPS-VAN HEUSEN CORPORATION</B></P>
<B><P style="margin:0pt; text-indent:194.4pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">ASSOCIATES INVESTMENT PLAN FOR</B></P>
<B><P style="margin:0pt; text-indent:194.4pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">RESIDENTS OF THE COMMONWEALTH</B></P>
<B><P style="margin:0pt; text-indent:194.4pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">OF PUERTO RICO</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B><BR></B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-16pt; line-height:16pt; font-family:Times New Roman; font-size:12pt">Date: &nbsp;June 27, 2005</P>
<P style="margin-top:0pt; margin-bottom:-16pt; text-indent:194.4pt; line-height:16pt; font-family:Times New Roman; font-size:12pt"><B></B>By</P>
<P style="margin-top:0pt; margin-bottom:-16pt; text-indent:265.5pt; line-height:16pt; font-family:Times New Roman; font-size:12pt"><U>/s/ Pamela N. Hootkin</U></P>
<P style="margin:0pt; text-indent:442.8pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U><BR></U></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Pamela N. Hootkin, Member of</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Administrative Committee</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR>
<BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Phillips-Van Heusen Corporation</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Associates Investment Plan for Residents <BR>
of the Commonwealth of Puerto Rico</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Financial Statements</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Years ended December 31, 2004 and 2003</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>Contents</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Report of Independent Registered Public Accounting Firm</P>
<P style="margin:0pt; text-indent:415.35pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>F-2</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Statements of Net Assets Available for Benefits </P>
<P style="margin:0pt; padding-left:9pt; text-indent:406.35pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">F-3</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Statements of Changes in Net Assets Available for Benefits </P>
<P style="margin:0pt; padding-left:9pt; text-indent:406.35pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">F-4</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Notes to Financial Statements</P>
<P style="margin:0pt; padding-left:9pt; text-indent:406.35pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>F-5</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Supplemental Schedules</P>
<P style="margin:0pt; padding-left:9pt; text-indent:400.35pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>F-11</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>F-1</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center>[Letterhead of Ernst &amp; Young LLP]</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Report of Independent Registered Public Accounting Firm</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Administrative Committee of the Plan</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Phillips-Van Heusen Corporation </P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Associates Investment Plan for Residents </P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>of the Commonwealth of Puerto Rico</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>We have audited the accompanying statements of net assets available for benefits of the Phillips-Van Heusen Corporation Associates Investment Plan for Residents of the Commonwealth of Puerto Rico (the &#147;Plan&#148;) as of December 31, 2004 and 2003, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan&#146;s management. Our responsibility is to express an opinion on these financial statements based on our audits.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan's internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and eva
luating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2004 and 2003, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. &nbsp;The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2004, is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor&#146;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. &nbsp;This supplemental schedule is the responsibility of the Plan&#146;s management. &nbsp;The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.</P>
<P style="margin:0pt; line-height:10pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; padding-left:225pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>/s/Ernst &amp; Young LLP</P>
<P style="margin:0pt; padding-left:225pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">May 31, 2005</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>F-2</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:9pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Phillips-Van Heusen Corporation</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Associates Investment Plan for Residents</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center>of the Commonwealth of Puerto Rico</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B><BR></B></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Statements of Net Assets Available for Benefits</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=192 colspan=2><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>December 31</B></P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2004</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2003</B></P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></B></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Assets</B></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investments, at fair value <I>(Notes A and E):</I></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investments held by State Street Bank:</P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Stable Value Funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:24pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>$21,360</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:27pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Mutual Funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:30pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>27,422</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:60pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>&#150;</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:27pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investment in Phillips-Van Heusen Corporation Associates Investment Plans Master Trust</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<B><P style="margin:0pt; text-indent:30pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">28,015</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
<P style="margin:0pt; text-indent:60pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#150;</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investments held by UMB Trust:</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Money Market Funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:60pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>&#150;</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:30pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>14,898</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Mutual Funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:60pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>&#150;</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:30pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>27,942</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:27pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investment in Phillips-Van Heusen Corporation<BR>
Associates Investment Plans Master Trust</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<B><P style="margin:0pt; text-indent:60pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#150;</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
<P style="margin:0pt; text-indent:30pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">18,716</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Participant loans receivable</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>4,704</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:60pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>&#150;</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Contributions receivable</P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; text-indent:45pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>611</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><B><P style="margin:0pt; text-indent:45pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>664</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Net assets available for benefits </P>
</TD><TD style="border-bottom:3pt double #000000" valign=top width=96><P style="margin:0pt; text-indent:24pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>$82,112</B></P>
</TD><TD style="border-bottom:3pt double #000000" valign=top width=96><B><P style="margin:0pt; text-indent:24pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>$62,220</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><I>See notes to financial statements.</I></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:12pt" align=right>F-3</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:12pt" align=right><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:9pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Phillips-Van Heusen Corporation</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Associates Investment Plan for Residents</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center>of the Commonwealth of Puerto Rico</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B><BR></B></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Statements of Changes in Net Assets Available for Benefits</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=192 colspan=2><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Year ended December 31</B></P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2004</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2003</B></P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Additions</B></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:63pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Contributions:</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:63.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96>&nbsp;</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Employer, net of forfeitures</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:15pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>$ &nbsp;4,793</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:15pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>$ &nbsp;3,929</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Employees </P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>10,710</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>10,957</P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>15,503</B></P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><B><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>14,886</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Loan repayments, interest</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:42pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>82</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Interest and investment income</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:27pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>1,794</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>878</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Total additions</P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>17,379</B></P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><B><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>15,764</P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Deductions</B></P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Payments to participants</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:27pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>8,863</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:51pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>&#150;</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Total deductions</P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; text-indent:27pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>8,863</B></P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><B><P style="margin:0pt; text-indent:51pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>&#150;</P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=96><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Net realized and unrealized appreciation of investments</P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>11,376</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><B><P style="margin:0pt; text-indent:27pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>9,748</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Net increase</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>19,892</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>25,512</P>
</TD></TR>
<TR><TD valign=top width=384>&nbsp;</TD><TD valign=top width=96><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Net assets available for benefits at beginning of year</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>62,220</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:21pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>36,708</P>
</TD></TR>
<TR><TD valign=top width=384><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Net assets available for benefits at end of year</P>
</TD><TD style="border-top:0.75pt solid #000000; border-bottom:3pt double #000000" valign=top width=96><P style="margin:0pt; text-indent:15pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>$82,112</B></P>
</TD><TD style="border-top:0.75pt solid #000000; border-bottom:3pt double #000000" valign=top width=96><B><P style="margin:0pt; text-indent:15pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>$62,220</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><I>See notes to financial statements.</I></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>F-4</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Phillips-Van Heusen Corporation</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Associates Investment Plan for Residents</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center>of the Commonwealth of Puerto Rico</P>
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<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Notes to Financial Statements</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>December 31, 2004</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>A. &nbsp;Description of the Plan</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The following description of the Phillips-Van Heusen Corporation (the &#147;Company&#148;) Associates Investment Plan for Residents of the Commonwealth of Puerto Rico (the &#147;Plan&#148;) provides only general information. &nbsp;Participants should refer to the Plan Document for a more complete description of the Plan&#146;s provisions.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Change in Trustee and Recordkeeper</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Effective January 1, 2004, the Plan&#146;s Trustee changed from UMB Bank (the &#147;Predecessor Trustee&#148;) to State Street Bank (the &#147;Trustee&#148; or &#147;Successor Trustee&#148;). &nbsp;Subsequent to 2004, on January 1, 2005, Wells Fargo acquired Strong Retirement Plan Services and as a result, Wells Fargo Retirement Solutions became the &#147;Recordkeeper&#148; and Wells Fargo Bank became the &#147;Trustee&#148;.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Master Trust</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Phillips-Van Heusen Corporation Associates Investment Plans Master Trust (the &#147;Master Trust&#148;) was established for the investment of the Company&#146;s Common Stock Fund. &nbsp;The Plan is one of three plans participating in the Master Trust. &nbsp;</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>General</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Plan is a defined contribution plan covering salaried and hourly retail field workers who are residents of the Commonwealth of Puerto Rico who are at least age 21 or older, have completed at least three consecutive months of service and are regularly scheduled to work at least 20 hours per week. The Plan is subject to the reporting and disclosure requirements of the Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;). &nbsp;</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Each year, participants may contribute up to 10% of pre-tax annual compensation, as defined by the Plan, limited to $8,000 per annum in 2004 and 2003, respectively. &nbsp;The Company matches 100% of the first 2% of eligible compensation that a participant contributed to the Plan plus 25% of the next 4% of eligible compensation contributed by the participant.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>A. &nbsp;Description of the Plan (continued)</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Each participant&#146;s account is credited with the participant&#146;s contributions and allocations of (a)&nbsp;the Company&#146;s contributions and (b)&nbsp;Plan earnings. &nbsp;Forfeited balances of terminated participants&#146; nonvested accounts are used to reduce future Company contributions.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Vesting</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Amounts attributable to employee contributions and the allocated earnings thereon are immediately vested. &nbsp;Participants become 25%, 50%, 75% and 100% vested in Company contributions after two, three, four and five years of service, respectively. &nbsp;Upon death, permanent disability, or reaching age 65, participants or their beneficiaries become 100% vested in Company contributions.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Investment Options</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Upon enrollment in the Plan, a participant may direct employee contributions into any of eight investment options. &nbsp;Effective July 1, 2004, three new investment options were added to the Plan, for a total of eleven options. &nbsp;A participant may contribute a maximum of 25% of employee contributions into the Phillips-Van Heusen Corporation Common Stock Fund.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Company contributions are invested in any fund offered by the Plan as elected by the participant. &nbsp;However, existing balances contributed to the Company&#146;s Common Stock Fund as of March 31, 1999 were required to remain in the fund until participants reach the age of 55 or older. &nbsp;Effective December 30, 2004, all restrictions on Company Match invested in the PVH Stock Fund were removed and participants are allowed to transfer all Company Match monies to other investment options in the Plan.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>A. &nbsp;Description of the Plan (continued)</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Participant Loans Receivable</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Participants may borrow from the Plan, with certain restrictions, using their vested account balance as collateral. &nbsp;The minimum loan amount is $1,000 and the maximum loan amount is the lesser of (i)&nbsp;$50,000 reduced by the participant&#146;s highest outstanding loan balance during the previous 12&nbsp;months, or (ii)&nbsp;50% of the vested value of the participant&#146;s account. Interest is fixed for the term of the loan at the prime rate plus 1%. &nbsp;Loan repayments are made through payroll deductions which may be specified for a term of 1&nbsp;to 5&nbsp;years or up to 15&nbsp;years for the purchase of a primary residence.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Contributions made on behalf of non-vested or partially vested employees who have terminated are retained by the Plan and are used to reduce the Company&#146;s future matching contributions. </P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Payment of Benefits</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Participants electing final distributions will receive payment in the form of a lump sum amount equal to the value of their vested account.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Plan Termination</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. &nbsp;In the event of Plan termination, participants will become 100% vested in their accounts.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>B. &nbsp;Significant Accounting Policies</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The accounting records of the Plan are maintained on the accrual basis.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Substantially all administrative expenses are paid by the Company.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>B. &nbsp;Significant Accounting Policies (continued)</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>In accordance with the Rules and Regulations of the Department of Labor, investments are included in the accompanying financial statements at market value as determined by quoted market prices or at fair value as determined by the trustee. &nbsp;Purchases and sales of securities are reflected on a trade date basis.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>All assets of the Plan are held by the Trustee and are segregated from the assets of the Company. &nbsp;The Master Trust holds the investments in Employers Common Stock. &nbsp;The Plan shares in the Master Trust interest and investment income based upon its participants&#146; shares of the Master Trust net assets available for benefits.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. &nbsp;Actual results could differ from those estimates.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>C. &nbsp;Transactions with Parties-in-Interest</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>During the years ended December 31, 2004 and 2003, the Master Trust purchased 15,616 and 12,631 shares, respectively, of the Company&#146;s common stock and received $ 168,641 and $172,798, respectively, from the Company as payment of dividends on its common stock. &nbsp;The AIP Master Trust also sold 64,342 and 25,016 shares of the Company&#146;s common stock during the years ended December 31, 2004 and 2003, respectively.</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>D. &nbsp;Investments</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>During 2004 and 2003, the Plan&#146;s investments (including investments purchased, sold, as well as held during the year) appreciated in fair value as determined by quoted market prices as follows:</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=336>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=211.2 colspan=2><P style="margin:0pt; padding-right:2.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>&nbsp;<B>Net Realized and Unrealized Appreciation in Fair Value<BR>
of Investments</B></P>
</TD></TR>
<TR><TD valign=top width=336>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2004</B></P>
</TD><TD valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2003</B></P>
</TD></TR>
<TR><TD valign=top width=336>&nbsp;</TD><TD valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; text-indent:52.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; text-indent:67.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:7.2pt; text-indent:-4.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Common stock &#150; Employer Company Fund</P>
</TD><TD valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; text-indent:13.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>$ &nbsp;9,484</B></P>
</TD><TD valign=top width=105.6><B><P style="margin:0pt; padding-right:2.75pt; text-indent:19.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>$6,317</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:7.2pt; text-indent:-4.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Shares of registered investment companies</P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; text-indent:25.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>1,892</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=105.6><B><P style="margin:0pt; padding-right:2.75pt; text-indent:25.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>3,431</P>
</TD></TR>
<TR><TD valign=top width=336>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=top width=105.6><P style="margin:0pt; padding-right:2.75pt; text-indent:13.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>$11,376</B></P>
</TD><TD style="border-bottom:2pt double #000000" valign=top width=105.6><B><P style="margin:0pt; padding-right:2.75pt; text-indent:19.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>$9,748</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Investments that represent 5% or more of the fair value of the Plan&#146;s net assets are as follows:</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=336>&nbsp;</TD><TD valign=top width=192 colspan=2><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>&nbsp;<B>December 31</B></P>
</TD></TR>
<TR><TD valign=top width=336>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2004</B></P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>2003</B></P>
</TD></TR>
<TR><TD valign=top width=336>&nbsp;</TD><TD valign=top width=96><P style="margin:0pt; text-indent:67.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:67.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investment in Phillips-Van Heusen Corporation Associates Investment Plans PVH Stock Master Trust</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:53.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<B><P style="margin:0pt; text-indent:53.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
<B><P style="margin:0pt; text-indent:14.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">$28,015</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:53.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
<P style="margin:0pt; text-indent:53.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:14.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">$18,716</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Dodge &amp; Cox Balanced Fund</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>7,748</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>7,759</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Dreyfus Appreciation Fund</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>5,875</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>6,362</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Strong Advisor Bond</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>8,313</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>9,773</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Strong Stable Value</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:32.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>* &nbsp;&nbsp;&nbsp;&nbsp;</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:20.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>14,898</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Wells Fargo Stable Return </P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:20.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>21,360</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:35.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>* &nbsp;&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=336><P style="margin:0pt; padding-left:9.9pt; text-indent:-9.9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Shares of registered companies representing <BR>
less than 5%</P>
</TD><TD valign=top width=96><P style="margin:0pt; text-indent:53.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<B><P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5,486</B></P>
</TD><TD valign=top width=96><B><P style="margin:0pt; text-indent:53.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></B></P>
<P style="margin:0pt; text-indent:26.1pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">4,048</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; padding-left:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>* </B>Investment represented less than 5% of the Plan&#146;s net assets at this time.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>F-9</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<H1>Table of Contents</H1>
<DIV style="font-family:Arial"><UL style="margin:0pt"><UL style="margin:0pt"><LI><A HREF="#T00014C">Supplemental Schedule</A><BR>
</UL></UL></DIV>
<A NAME="T00001C"></A><P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:12pt">E. &nbsp;Non-Participant-Directed Investments</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B><BR></B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The following schedule depicts activity within the Master Trust as of December 31, 2003 and for the year then ended. &nbsp;The Master Trust consisted of participant directed investments along with all non-participant directed investments through December 30, 2004 at which date all restrictions on these funds were eliminated. &nbsp;Changes in the Phillips-Van Heusen Corporation Associates Investment Plans Master Trust net assets held during the year ended December 31, 2003 were as follows:</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:8pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=295.2>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=140.4><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B>December 31, 2003</B></P>
</TD></TR>
<TR><TD valign=top width=295.2>&nbsp;</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:63pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:9.5pt; text-indent:-9.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Net assets:</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:63pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Phillips-Van Heusen common stock</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">$20,279,641</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Money Market Fund</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:42.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">752,382</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Other</P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=140.4><P style="margin:0pt; text-indent:54.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">2,617</P>
</TD></TR>
<TR><TD valign=top width=295.2>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=top width=140.4><P style="margin:0pt; text-indent:21.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">$21,034,640</P>
</TD></TR>
<TR><TD valign=top width=295.2>&nbsp;</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:63.8pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=295.2>&nbsp;</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=140.4><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B>Year ended December 31, 2003</B></P>
</TD></TR>
<TR><TD valign=top width=295.2>&nbsp;</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:63.8pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:9.5pt; text-indent:-9.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Net assets at beginning of year</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:21.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">$13,884,372</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:9.5pt; text-indent:-9.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Changes in net assets:</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:81.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Contributions</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:33.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">1,207,958</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Loan repayments, interest</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:54.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">8,056</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Loan repayments, principal</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:48.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">52,457</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Earnings and net realized and unrealized <BR>
depreciation in fair value</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:81.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:33.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">7,302,014</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Distributions to participants</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:34.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">(913,378)</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:18.5pt; text-indent:-8.5pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Transfers to participant directed investments</P>
</TD><TD valign=top width=140.4><P style="margin:0pt; text-indent:34.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">(506,839)</P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Net assets at end of year</P>
</TD><TD style="border-top:0.75pt solid #000000; border-bottom:3pt double #000000" valign=top width=140.4><P style="margin:0pt; text-indent:21.45pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">$21,034,640</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>F. &nbsp;Income Tax Status</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Plan has received a determination letter from the Internal Revenue Service dated April 27, 1995 stating that the Plan is qualified under Section&nbsp;401(a) of the Internal Revenue Code (the &#147;Code&#148;) and, therefore, the related trust is exempt from taxation. &nbsp;Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. &nbsp;The Plan has been amended since receiving the determination letter and a new determination letter has been applied for. &nbsp;The plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and the related trust is tax-exempt.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>F-10</P>
<A NAME="T00002C"></A><P style="margin:0pt; font-family:Times New Roman; font-size:24pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right><BR></P>
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<A NAME="T00014C"></A><P style="margin:0pt; line-height:26pt; font-family:Times New Roman; font-size:24pt" align=center>Supplemental Schedule</P>
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<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:12pt" align=right>EIN: 13-1166910</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>Plan No: 014</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:14pt" align=center>Phillips-Van Heusen Corporation</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Associates Investment Plan for Residents <BR>
of the Commonwealth of Puerto Rico</P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Schedule H, Line 4i--Schedule of Assets (Held at End of Year)</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>December 31, 2004</P>
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<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=220><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B>Identity of Issue, Borrower, <BR>
Lessor or Similar Party</B></P>
</TD><TD valign=top width=260><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B>Description of Investment, <BR>
Including Maturity Date, <BR>
Rate of Interest, <BR>
Par or Maturity Value</B></P>
</TD><TD valign=top width=104><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B>Current</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:12pt" align=center><B>Value</B></P>
</TD></TR>
<TR><TD style="border-top:0.75pt solid #000000" valign=top width=220>&nbsp;</TD><TD style="border-top:0.75pt solid #000000" valign=top width=260>&nbsp;</TD><TD style="border-top:0.75pt solid #000000" valign=top width=104>&nbsp;</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Barclays Global Equity Index; <BR>
201.4380 shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:18pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">$ &nbsp;2,272</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Dodge &amp; Cox Balanced Fund; <BR>
97.6451 shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:30pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">7,748</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Dreyfus Appreciation Fund; <BR>
151.8590 shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:30pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">5,875</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Oakmark International Fund; <BR>
&nbsp;&nbsp;66.5568 shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:30pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">1,406</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Advisor Small Cap Value;<BR>
57.3783 shares </P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:30pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">1,687</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:9pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Advisor Bond; <BR>
749.5907 shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:30pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">8,313</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Dodge &amp; Cox Income Fund;<BR>
9.4248 &nbsp;shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:39pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">121</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Wells Fargo Stable Value Fund;<BR>
577.2244 shares</P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:24pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">21,360</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">PVH Master Associates Investment Plan<BR>
Master Trust; 15,052.5545 units </P>
</TD><TD valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:24pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">28,015</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Strong Retirement Plan Services</P>
</TD><TD valign=top width=260><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Loan Fund; 4704 units, <BR>
maturity dates through: 2009,<BR>
interest rate: 5%</P>
</TD><TD style="border-bottom:0.75pt solid #000000" valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:30pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">4,704</P>
</TD></TR>
<TR><TD valign=top width=220><P style="margin:0pt; padding-left:10.8pt; text-indent:-9pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">Total investments held by State Street Bank</P>
</TD><TD valign=top width=260>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=top width=104><P style="margin:0pt; text-indent:57pt; line-height:13pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:18pt; line-height:13pt; font-family:Times New Roman; font-size:12pt">$81,501</P>
</TD></TR>
</TABLE>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>F-12</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>EXHIBIT INDEX</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>Exhibit No.</U></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:13.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>23.1</P>
<P style="margin:0pt; text-indent:108pt; line-height:20pt; font-family:Times New Roman; font-size:12pt" align=justify>Consent of Independent Auditors</P>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>exh23pr11k62005.htm
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<TITLE>Exhibit 23</TITLE>
<META NAME="author" CONTENT="pvh">
<META NAME="date" CONTENT="06/27/2005">
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>Exhibit 23.1</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center>Consent of Independent Registered Public Accounting Firm</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>We consent to the incorporation by reference in the Registration Statement (Form&nbsp;S-8 No.&nbsp;333-125694) pertaining to the Phillips-Van Heusen Corporation Associates Investment Plan for Residents of the Commonwealth of Puerto Rico of our report dated May 31, 2005, with respect to the financial statements of the Phillips-Van Heusen Corporation Associates Investment Plan for Associates who are residents of the Commonwealth of Puerto Rico included in this Annual Report (Form&nbsp;11-K) for the year ended December&nbsp;31, 2004.</P>
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<P style="margin:0pt; padding-left:225pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; padding-left:225pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>/s/Ernst &amp; Young LLP</P>
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<P style="margin:0pt; padding-left:225pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>June 22, 2005</P>
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