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Article: HILFIGER IMPRESSES WALL STREET WITH 58.8% PROFIT RISE: MEN'S WEAR SALES, DRIVEN BY JEANS, ROSE 13.1 PERCENT TO $214.3 MILLION IN 3D QUARTER.(Company Profile)
- Article from:
- Daily News Record
- Article date:
- February 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 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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NEW YORK -- Tommy Hilfiger Corp. handily outstripped Wall Street estimates, reporting third-quarter earnings soared 58.8 percent.
In the quarter ended Dec. 31, earnings rose to $57.8 million, or $1.22 a share, from $36.4 million, or 97 cents, a year ago. Results exceeded Wall Street estimates by 7 cents a share.
"It was an unbelievably good quarter by any measure," said Faye Landes at Salomon Smith Barney. "They had good business momentum, great backlogs and margins were up. It's an analyst's dream."
"So far Tommy has been close to perfect," added Larry Leeds Jr. at Buckingham Research. "Men's is seeing more modest growth, but the company has ...