(Filed Under Financial and General Interest News). Boosted by a 17 percent increase in Calvin Klein net revenues, The Warnaco Group, Inc. posted a 14 percent increase in net revenues during the fourth quarter ended January 2, 2010; to $505.4 million. Net revenues in all major international markets grew by double-digits, with particular strength in Latin America. Income per diluted share from continuing operations was 29 cents compared 27-cent loss during the previous year’s fourth quarter.
By segment, Intimate Apparel Group net revenues rose 10 percent, to $179.1 million, driven by double digit growth in core intimates and high single digit growth in Calvin Klein Intimates. International growth in Calvin Klein net revenues, both wholesale and retail, helped offset modest declines in U.S. sales, which the company attributed to lower department store replenishment. Sportswear Group and Swimwear Group net revenues increased a respective 17 percent and 10 percent, with Calvin Klein up 22 percent in sportswear. Swimwear was boosted by gains in both Speedo and Calvin Klein Swim.
The Warnaco Group, Inc. designs, sources, markets and sells intimate apparel and other merchandise under owned and licensed brands including Calvin Klein men’s and women’s underwear; Warners; Olga; and Speedo, among others. For further information, contact Deborah Abraham, vice president of investor relations with the company, by calling (212) 287-8289.
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