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Article: Warnaco Reports Third Quarter 2009 Results.
- Article from:
- Business Wire
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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Company Raises Adjusted Fiscal 2009 Guidance
NEW YORK -- The Warnaco Group, Inc. (NYSE: WRC) today reported results for the third quarter ended October 3, 2009.
For the third quarter:
* Net revenues were $520.9 million, down 5% from the prior year quarter
* Net revenues, on a constant currency basis, fell less than 1% compared to the prior year quarter
* Gross margin decreased 260 basis points to 44% of net revenues
* Selling, general & administrative (SG&A) expense, as a percent of net revenues, declined 550 basis points to 32%