CALVIN KLEIN JEANS HELP WARNACO POST Q3 PROFIT.

Daily News Record, November, 2004 by Malone, Scott

Byline: SCOTT MALONE

NEW YORK -- Citing a surge in its sportswear business -- including the Calvin Klein Jeans brand -- Warnaco Group swung to a profit in the third quarter on 10.5 percent sales growth.

The firm posted net income of $1.6 million, or 3 cents a diluted share, for the three months ended Oct. 2, compared with a net loss of $7.2 million, or 16 cents a share, a year earlier. Sales were up 10.5 percent to $324.4 million in the period. The third-quarter profit came in a penny below analysts' consensus estimates, according to Thomson First Call.

Joe Gromek, president and chief executive officer, said a change in the firm's approach to designing the Calvin Klein Jeans brand helped drive that line's 30 percent sales growth.

...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.