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Warnaco Reports 4q Results

(Filed Under Financial and General Interest News). The Warnaco Group, Inc. announced a 4 percent decrease in net revenues for the fourth quarter ended January 3, 2009 in comparison to the same period last year.

Net revenues dropped to $445.9 million in the fourth quarter, said the company, but net revenues for the year were $2.1 billion, up 14 percent from the prior year.

“Fiscal 2008 represented another year of important progress for Warnaco and we are pleased with our results, particularly in light of the recent economic downturn,” said Joe Gromek, Warnaco’s president and CEO. “Powerful growth in our Calvin Klein businesses and continued improvement in the performance of our heritage businesses contributed to these results.”

Intimate apparel for the company saw an 8 percent decrease in net revenues from $176.9 million in the prior year quarter to $163.3 million in fiscal 2008 fourth quarter. On the other hand, net revenues for the swimwear increased by 5 percent to $46.2 million.

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Published 02-27-2009 by Bruna Fernandes

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