Women’s Wear Daily
04.24.2014
fashion-scoops
fashion-scoops

Warnaco Net Down 7.8% in Third Quarter

Helen McCluskey, president and chief executive officer, cited "currency and macro challenges."

fashion-scoops/news

WARNACO POSTS Q3 RESULTS: Warnaco Group Inc., which last week said it will be acquired by PVH Corp. in a deal valued at $2.9 billion, said net income for the third quarter ended Sept. 29 fell 7.8 percent to $41.1 million, or 98 cents a diluted share, from $44.6 million, or $1.03, last year. Net revenues declined 5.2 percent to $611.5 million from $645.1 million.

Helen McCluskey, president and chief executive officer, said, “Gross margin expansion and expense discipline more than offset a decline in net revenues, driven primarily by the impact of currency and macro challenges.”

By segment, the sportswear group’s net revenues fell 5.7 percent to $337.4 million, while the intimate apparel group declined 6.3 percent to $232.2 million. The smallest segment, the swimwear group, was also its best performing business, gaining 6.7 percent to $42 million.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.

Ads by Google

Newsletters
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

Publications

ArticleFinder

Fashion


Choose By

Clear

How it works

Close

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.


Or