Q1 profits fall at Warnaco
13/05/2008
Revenues for the sportswear group increased 28% to $300.1 million, driven by continued momentum in Calvin Klein Jeans, with notable strength in Europe and Asia. However, operating income fell to $22.1 million, or 7%, of the division's net revenues.
Intimate apparel group revenues rose 22% to $167.6 million and operating income increased to $32.4 million, or 19%, of the division's revenues.
Swimwear group revenues fell five percent year-on-year to $107.2 million, while operating income fell to $14.8 million, or 14%, of swimwear group revenues. Calvin Klein swim revenues were sharply higher, driven by strong European demand. Speedo revenues were flat, while Speedo operating income was down.
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