Warnaco strips down swimwear brands
19/09/2007
Despite revenue increases in the second quarter, reports indicate that New York-based apparel company Warnaco Group Inc. is to dispense with several of its swimwear brands.
Restructuring developments will see Calvin Klein and Speedo retained, while its Catalina, Anne Cole and Cole of California brands will be sold. The company has revealed that all of its private-label and designer swimwear businesses will be terminated by June 30, 2008.
It has also raised its earnings forecast for 2007, with sales now expected to increase by 9-11%, year-on-year, compared with the earlier prediction of 7-9% growth.
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