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Article: ACQUISITION-HUNGRY KELLWOOD SEES EARNINGS INCREASE 20%.
- Article from:
- WWD
- Article date:
- June 4, 2004
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amy Zimmerman, With contributions from Evan Clark, New York
ST. LOUIS -- Kellwood Co., which continues to look for growth in acquisitions, posted a 20.2 percent rise in first-quarter earnings Thursday.
For the three months ended May 1, earnings tallied $25 million, or 90 cents a diluted share, versus $20.8 million, or 78 cents, a year ago. Sales for the quarter rose 2 percent to $686.1 million from $672.3 million. The Feb. 3 acquisition of Phat Fashions pumped up sales by $9 million.
"As always, we are looking at opportunities to grow and are confident we will make another acquisition in the next nine to 12 months," Hal J. Upbin, ...