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| Date:  June 29, 2011 | By:     /s/  Dana M. Perlman                                                            |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           | Dana M. Perlman                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                           | Member of Plan Committee                                                                                                                                                                                                                                                                                                                                                                                                          |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Page                                                             |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------|
| Report of Independent Registered Public Accounting Firm................................... Financial Statements Statements of Net Assets Available for Benefits............................................ Statement of Changes in Net Assets Available for Benefits Notes to Financial Statements................................................................. Supplemental Schedule Schedule H, Line 4i--Schedule of Investments Held at Year End at Fair Value......... | F-1   F-2 F-3 F-4   F-14 |

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|                                                      | 2010                                                                                        | 2009                                                                                              |
|-----------------------------------------------------------|---------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|
|                                                      |                                                                                        |                                                                                              |
| Assets                                                    |                                                                                        |                                                                                              |
|                                                      |                                                                                        |                                                                                              |
| Cash                                                      | $          123                            | $          150                                  |
| Participant-directed investments, at fair value           | 304,810                                                                                     | 246,813                                                                                           |
| Receivables:                                              |                                                                                        |                                                                                              |
| Notes from participants                                   | 33,669                                                                                      | 22,376                                                                                            |
| Contributions, employer                                   | 157                                                                                         | 161                                                                                               |
| Contributions, employee                                   | 285                                                                                         | 302                                                                                               |
| Due from broker                                           | 172                                                                                         | -                                                                                                 |
| Loan interest                                             |                - |                 3 |
| Total receivables                                         |        34,283                                            |        22,842                                                  |
|                                                      |                                                                                        |                                                                                              |
| Total assets                                              |      339,216                                                       |      269,805                                                             |
|                                                      |                                                                                        |                                                                                              |
| Liabilities                                               |                                                                                        |                                                                                              |
|                                                      |                                                                                        |                                                                                              |
| Miscellaneous payables                                    |             236                 |             124                       |
|                                                      |                                                                                        |                                                                                              |
| Total liabilities                                         |             236                 |             124                       |
|                                                      |                                                                                        |                                                                                              |
| Net assets available for benefits, at fair value          | 338,980                                                                                     | 269,681                                                                                           |
|                                                      |                                                                                        |                                                                                              |
| Adjustment from fair value to contract value for interest |                                                                                        |                                                                                              |
| in common/collective trust relating to fully              |                                                                                        |                                                                                              |
| benefit-responsive investment contracts                   |         (2,953)                                     |          4,702                                       |
|                                                      |                                                                                        |                                                                                              |
| Net assets available for benefits                         | $   336,027                                                                  | $   274,383                                                                        |

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| Additions                                                  |                                                  |
|------------------------------------------------------------|-------------------------------------------------------|
|                                                       |                                                  |
| Contributions:                                             |                                                  |
|      Employer, net of forfeitures | $   21,151                             |
|      Employees                    | 36,868                                                |
| Interest and investment income                             | 2,196                                                 |
| Loan interest                                              |         1,702 |
|                                                       |                                                  |
| Total additions                                            |       61,917            |
|                                                       |                                                  |
| Deductions                                                 |                                                  |
|                                                       |                                                  |
| Payments to participants                                   |       32,285            |
|                                                       |                                                  |
| Total deductions                                           |      32,285                  |
|                                                       |                                                  |
| Net realized and unrealized appreciation                   |                                                  |
|     of investments                     |       32,012            |
|                                                       |                                                  |
| Net increase in net assets available for benefits          | 61,644                                                |
|                                                       |                                                  |
| Net assets available for benefits at beginning of year     |     274,383                       |
|                                                       |                                                  |
| Net assets available for benefits at end of year           | $  336,027                                  |

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|                                     |   |                                                            | Fair Value Measurements at |                                                                      |
|------------------------------------------|--------|-----------------------------------------------------------------|----------------------------|---------------------------------------------------------------------------|
|                                     |   |                                                            | December 31, 2010          |                                                                      |
| Asset Category                           |   | Total                                                           |                       | Quoted PricesIn ActiveMarkets forIdentical Assets(Level 1)                |   | SignificantObservableInputs(Level 2) |   | SignificantUnobservableInputs(Level 3) |
|                                     |   |                                                            |                       |                                                                      |   |   |   |   |
| Common Collective Trust Funds:(1)        |   |                                                            |                       |                                                                      |   |   |   |   |
| Stable Value                             |   | $ 135,821                                                       |                       | $          -            |   | $ 135,821 |   | $            - |
| U.S. Equity Index                        |   |   9,676                                               |                       | -                                                                         |   | 9,676 |   | - |
| Mutual Funds:(2)                         |   |                                                            |                       |                                                                      |   |   |   |   |
| U.S. Equity                              |   | 40,072                                                          |                       | 40,072                                                                    |   | - |   | - |
| International Equity                     |   | 14,337                                                          |                       | 14,337                                                                    |   | - |   | - |
| Fixed Income                             |   | 34,574                                                          |                       | 34,574                                                                    |   | - |   | - |
| Balanced                                 |   | 13,391                                                          |                       | 13,391                                                                    |   | - |   | - |
| Real Estate                              |   | 2,689                                                           |                       | 2,689                                                                     |   | - |   | - |
| Phillips-Van Heusen Stock Fund(3)        |   | 53,685                                                          |                       | 53,685                                                                    |   | - |   | - |
| Money Market Funds(4)                    |   |           565 |                       |             - |   |            565 |   |              - |
|                                     |   |                                                            |                       |                                                                      |   |   |   |   |
| Total Investments Measured at Fair Value |   | $ 304,810                                                       |                       | $ 158,748                                                                 |   | $ 146,062 |   | $           - |

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|                                     |   |                                            | Fair Value Measurements at |
|------------------------------------------|--------|-------------------------------------------------|----------------------------|
|                                     |   |                                            | December 31, 2009          |
| Asset Category                           |   | Total                                           |                       | Quoted PricesIn ActiveMarkets forIdentical Assets(Level 1) |   | SignificantObservableInputs(Level 2) |   | SignificantUnobservableInputs(Level 3) |
|                                     |   |                                            |                       |   |   |   |   |   |
| Common Collective Trust Funds:(1)        |   |                                            |                       |   |   |   |   |   |
| Stable Value                             |   | $ 122,692                                       |                       | $          - |   | $ 122,692 |   | $           - |
| U.S. Equity Index                        |   | 7,336                                           |                       | - |   | 7,336 |   | - |
| Mutual Funds:(2)                         |   |                                            |                       |   |   |   |   |   |
| U.S. Equity                              |   | 30,758                                          |                       | 30,758 |   | - |   | - |
| International Equity                     |   | 10,332                                          |                       | 10,332 |   | - |   | - |
| Fixed Income                             |   | 25,672                                          |                       | 25,672 |   | - |   | - |
| Balanced                                 |   | 10,507                                          |                       | 10,507 |   | - |   | - |
| Real Estate                              |   | 2,039                                           |                       | 2,039 |   | - |   | - |
| Phillips-Van Heusen Stock Fund(3)        |   | 35,717                                          |                       | 35,717 |   | - |   | - |
| Money Market Funds(4)                    |   |        1,760 |                       |            - |   |        1,760 |   |              - |
|                                     |   |                                            |                       |   |   |   |   |   |
| Total Investments Measured at Fair Value |   | $ 246,813                                       |                       | $ 115,025 |   | $ 131,788 |   | $           - |

| (1) | Valued at the net asset value of the fund(s) as determined by a pricing vendor or the fund family.  The Plan has no unfunded commitments related to these common collective trust funds.  These funds invest in (a) guarantee contracts and instruments and (b) securities that make up the S&P 500 Index in the same proportion as the index.  These funds are redeemable on a daily basis without restriction. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Valued at the net asset value of the fund(s), as determined by the closing price in the active market in which the individual fund is traded. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|  (3) | Valued at the closing price of Phillips-Van Heusen common stock. |
|-----------|------------------------------------------------------------------|

| (4) | Valued at the net asset value of the fund(s), as determined by a pricing vendor or the fund family.  The Plan has no unfunded commitments related to these funds.  These funds invest in short-term, high quality fixed income securities issued by banks, corporations and the U.S. government and maintain a constant $1 net asset value.  These funds are redeemable on a daily basis without restriction. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Mutual Funds                           | $          8,664            |
|----------------------------------------|-------------------------------------------------------------------------------|
| Phillips-Van Heusen Stock Fund         |           19,335            |
| Common Collective Trust Funds          |             4,013 |
|                                   |                                                                          |
| Total realized/unrealized appreciation | $        32,012                       |

|                                     | 2010                                       | 2009                           |
|------------------------------------------|--------------------------------------------|--------------------------------|
|                                     |                                       |                           |
| Wells Fargo Stable Return                | $  135,821                       | $  24,806            |
| Phillips-Van Heusen Stock Fund           |       53,685 |     35,717 |
| Metropolitan West Total Return Bond Fund |      34,574       | -                              |
| American Beacon Large Cap Value Fund     |      17,277       |    13,787       |
| Bond Fund of America                     | -                                          |    25,672       |
| SEI Stable Asset Fund                    | -                                          |    97,886       |

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|                                                | 2010                                                  | 2009                                        |
|-----------------------------------------------------|-------------------------------------------------------|---------------------------------------------|
| Net assets available for benefits per the financial |                                                  |
| statements                                          | $  336,027                             | $  274,383                   |
| Less adjustment to contract value                   |         2,953 |       (4,702) |
|                                                |                                                  |                                        |
| Net assets available for benefits per the           |                                                  |                                        |
| Form 5500                                           | $  338,980                                  | $  269,681                        |
|                                                |                                                  |                                        |

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|   | (b)                                                       |                                                                                                                                   |   | (e)                                                        |
|--------|-----------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------|
|   | Identity of issuer, borrower,                             | (c)                                                                                                                                    | (d)    | Current                                                    |
| (a)    | lessor or similar party                                   | Description of Investment                                                                                                              | Cost   | Value                                                      |
|   |                                                      |                                                                                                                                   |   |                                                       |
|   | American Beacon Funds                                     | American Beacon US Government MM; 121.4800                                                                                             |   |                                                       |
|   |                                                      | shares                                                                                                                                 | **     | $         121 |
|   | American Beacon Funds                                     | American Beacon Large Cap Value Fund; 932.3730                                                                                         |   |                                                       |
|   |                                                      | shares                                                                                                                                 | **     | 17,277                                                     |
|   | American Funds                                            | Growth Fund of America Fund; 466.0900 shares                                                                                           | **     | 14,071                                                     |
|   | Dodge & Cox Funds                                     | Dodge & Cox Balanced Fund; 190.6980 shares                                                                                         | **     | 13,391                                                     |
|   | Federated Securities Corp.                                | Federated Capital Reserves Fund; 443.32 shares                                                                                         | **     | 443                                                        |
|   | Hartford Series Funds                                     | Hartford HLS Small Cap Fund; 105.6830 shares                                                                                           | **     | 2,243                                                      |
|   | Lazard Funds                                              | Lazard Funds Emerging Markets; 67.2080 shares                                                                                          | **     | 1,491                                                      |
|   | Metropolitan West                                         | Metropolitan West Total Return Bond Fund;                                                                                              |   |                                                       |
|   |                                                      | 3,330.8390 shares                                                                                                                      | **     | 34,574                                                     |
|   | Neuberger & Berman                                    | Neuberger & Berman Genesis Trust; 0.2880 shares                                                                                    | **     | 14                                                         |
|   | State Street Global Advisors                              | State Street Bank S&P 500 Index Fund;                                                                                              |   |                                                       |
|   |                                                      | 266.3990 shares                                                                                                                        | **     | 9,676                                                      |
|   | Thornburg Investment                                      | Thornburg International Value Fund;                                                                                                    |   |                                                       |
|   |   Management                                    | 448.5210 shares                                                                                                                        | **     | 12,846                                                     |
|   | Virtus Mutual Funds                                       | Virtus Real Estate Securities Fund; 96.5380 shares                                                                                     | **     | 2,689                                                      |
|   | Wells Fargo Funds                                         | Wells Fargo Small Cap Value Fund; 198.5860                                                                                             |   |                                                       |
|   |                                                      | shares                                                                                                                                 | **     | 6,468                                                      |
|   | Wells Fargo Funds                                         | Wells Fargo Stable Return; 2,905.6250 shares                                                                                           | **     | 135,821                                                    |
| *      | Phillips-Van Heusen Corp                                  | Investment in Phillips-Van Heusen                                                                                                      |   |                                                       |
|   |                                                      | Stock Fund; 852.0000 shares                                                                                                            | **     |       53,685                 |
|   |                                                      |                                                                                                                                   |   |                                                       |
|   |                                                      | Total investments, at fair value                                                                                                       |   | $  304,810                                       |
|   |                                                      |                                                                                                                                   |   |                                                       |
|   | Notes Receivable from    Participants | Participant Notes Receivable;  loans maturing at various dates through 2016 and bearing interest at rates from 4.25% to 9.0% | **     | $     33,669                      |
|   |                                                      |                                                                                                                                   |   |                                                       |

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| Exhibit No. |
|-------------|
|        |
| 23.1        | Consent of Independent Auditors |