Sportswear sales drive growth at Warnaco
The Warnaco Group has posted higher fourth quarter sales, driven by a significant rise in sportswear revenues.
Net revenues for the quarter were $505.4 million, up 14% compared with the prior-year quarter.
Sportswear group revenues rose 17% during the quarter to $275.6 million. Net revenues for Calvin Klein grew 22%, with notable strength in Europe and Latin America, offsetting a 4% decline in Chaps net revenues. Intimate apparel group revenues increased 10% to $179.1 million, while swimwear group net revenues also increased 10%, totalling $50.8 million and reflecting gains in both Speedo and Calvin Klein Swim.
For the year, net revenues were $2 billion, down 2% from the prior year.
Joe Gromek, Warnaco’s president and chief executive officer, said: “Looking ahead, we begin 2010 in a position of strength and confidence. Our brands and businesses are performing at a high level and are supporting our long-term growth objectives.”
