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Apparel company Phillips-Van Heusen Corp. (NYSE: ), best known for its Calvin Klein brand, shares are down more than 3% ahead of its earnings announcement tomorrow. A look ahead at what to expect from the New York, New York company:

Earnings per share: Expected to be 65 cents, with the eleven analysts’ opinions tightly grouped from a high estimate of 66 cents to a low estimate of 63 cents. If on target at 65 cents, Phillips-Van Heusen will have had earnings drop more than 4% compared to the same period a year earlier.

Revenue: Expected to increase by 5% from the second quarter of 2007 to $580.68 million – with estimates ranging from $573.1 million to $585 million.

Earnings track record: Phillips-Van Heusen has beaten expectations in four out of the last four quarters – though usually by rather small margins such as 2.3% and 1.9%.

Analyst recommendations: Wall Street’s average recommendation on Phillips-Van Heusen is “buy” with an average price target of $46.89 despite the difficult retail environment.

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