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current news

Warnaco 4q Revenue Up 17%

(Filed Under Financial and General Interest News). Propelled by international, Calvin Klein and direct to consumer growth, The Warnaco Group Inc. cited a 17 percent net revenue increase during the fourth quarter ended January 1, 2011: to $591.5 million. During the fiscal year also ended January 1, net revenues jumped 14 percent: to $2.3 billion.

During the fourth quarter, the group’s international businesses increased by 22 percent, driven by growth in the Calvin Klein and direct to consumer divisions. Worldwide Calvin Klein revenues were up 18 percent, and direct to consumer comparable store sales increased 6 percent. The group’s non-Calvin Klein revenue was up 14 percent, reflecting double digit increases in Chaps and Speedo.

Throughout the year, Calvin Klein, international and direct to consumer revenues increased 14, 16 and 25 percent, respectively. “During 2010, we further developed our Calvin Klein brand in existing geographies as well as in new markets, expanding our direct to consumer footprint, and engaged consumers worldwide with innovative product offerings supported by memorable marketing campaigns,” said Joe Gromek, president and C.E.O of Warnaco.

For 2011, Warnaco anticipates net revenue growth of 7 to 9 percent.

more Financial and General Interest News >>

Published 03-03-2011 by Amanda Torres Price

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