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But acquisitions, which often operate simply as a new division under the firm’s corporate umbrella, are an exception.
Kellwood also is looking to close at least one more acquisition within the next six months. In February, Kellwood acquired Briggs and last year picked up Gerber Childrenswear.
For the half, earnings catapulted 120.6 percent to $27.5 million, or $1.03 a diluted share, from $12.5 million, or 52 cents, a year ago. Sales during the six months expanded 17.6 percent to $1.22 billion from $1.03 billion a year ago.
For the third quarter, Kellwood is looking for profits of $28 million to $29 million, or $1.05 to $1.10 a diluted share. That still makes for an increase of as much as 24.5 percent over a year ago, before certain one-time items. The consensus estimate from the four analysts polled by Thomson Financial First Call had the firm pegged at profits of $1.17 for the quarter.
Sales for the third quarter are slated to rise to $670 million to $680 million, a gain of as much as 7.4 percent over a year ago.