(Filed Under Financial and General Interest News). Driven by increases in its Calvin Klein, Chaps and core intimates businesses, The Warnaco Group’s net revenue rose 15 percent during the third quarter ended October 2, 2010.
The Calvin Klein business, which represented 79 percent of the company’s total net revenue, cited a 12 percent revenue increase, reflecting the strength of new product launches, such as Calvin Klein X Underwear, and continued momentum and in its international and direct-to-consumer channels, Warnaco said.
The company’s Heritage business grew by 24 percent, led by a 32 percent increase in Chaps and mid-teen growth in core intimates. The company attributed these increases to expanded distribution and a positive consumer response to new product launches.
International net revenues grew 12 percent, driven by a 21 percent increase in the direct-to-consumer channel. Comparable store sales increased 9 percent, with particular strength in Europe, Latin America and China.
In reflection of these results, Warnaco raised its fiscal 2010 earnings outlook, now anticipating that net revenues will increase 11 to 13 percent.
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