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current news

Warnaco’s Intimates Revenues Drop

(Filed Under Financial and General Interest News). For the first quarter ended April 4th, Warnaco has reported a 5 percent decrease in net revenues to $538.4 million from $568.7 million during the prior year’s quarter.

In the company’s sportswear segment, net revenues dropped by 7 percent to $280.1 million from $300.1 million in the first quarter ended April 2008. Intimate apparel net revenues decreased by 3 percent to $162.4 million from $167 million; and swimwear net revenues fell by 5 percent to $95.9 million from $100.5 million.

Despite the decreases, Warnaco’s president and CEO Joe Gromek said the company is content with the quarterly results and will continue to focus on the expansion of its Calvin Klein business. “We are confident in the strength of the Calvin Klein brand and the powerful global platform we have developed to support our Calvin Klein business will enable us to gain market share and create long-term shareholder value,” he said.

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more Financial and General Interest News >>

Published 05-13-2009 by Bruna Fernandes

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