Warnaco Group

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Warnaco to Present at the Telsey Advisory Group Consumer Conference : Warnaco News

The Warnaco Group, Inc. (NYSE: WRC) announced today that it will present at the Telsey Advisory Group Consumer Conference on Wednesday, March 30, 2011.

Warnaco's presentation will begin at approximately 9:05am EDT. The presentation will be webcast and may be accessed via the investor relations page of Warnaco's website at www.warnaco.com. For those unable to participate, an archived broadcast will be available shortly following the presentation.

ABOUT WARNACO

The Warnaco Group, Inc., headquartered in New York, is a leading global apparel company engaged in the business of designing, sourcing, marketing and selling men's, women's and children's sportswear and accessories, intimate apparel, and swimwear under such owned and licensed brands as Calvin Klein(R), Speedo(R), Chaps(R), and Warner's(R) and Olga(R

Learn more about The Warnaco Group Inc. on Apparel Search.

Joe Gromek, President and Chief Executive Officer of The Warnaco Group, Inc. (NYSE: WRC), announced today that Helen McCluskey has been appointed Chief Operating Officer. Ms. McCluskey previously served as Warnaco's Group President-Intimate Apparel and Swimwear.

The Warnaco Group, Inc. (NYSE: WRC) today reported results for the second quarter ended July 3, 2010.

Highlights for the quarter:

  • Net revenues were up 14% from the prior year quarter
  • Gross margin increased 270 basis points, to 44%, compared to the prior year quarter
  • Income per diluted share from continuing operations increased 63% to $0.65 compared to $0.40 in the prior year quarter which includes the benefit of approximately $0.07 from the effect of fluctuations in foreign currency exchange rates
  • Income per diluted share from continuing operations on an adjusted, non-GAAP basis was $0.71 compared to $0.47 in the prior year quarter (both of which exclude restructuring expenses, pension expense, costs related to repurchase of debt, certain tax related items and other items)
  • The Company redeemed the remaining $110.9 million of its 8-7/8% Senior Notes on June 15, 2010
  • The Company's Board of Directors approved a new five million share stock repurchase plan

The Warnaco Group, Inc. (NYSE: WRC) today announced the appointment of James B. Gerson as President of its Swimwear division. Mr. Gerson will oversee all aspects of the Speedo(R) and Calvin Klein(R) Swimwear businesses and will report directly to Helen McCluskey, Group President, Intimate Apparel and Swimwear. He will be based out of the Warnaco Swimwear Group's headquarters in Los Angeles, CA.

The Warnaco Group, Inc. (NYSE: WRC) announced yesterday that it will present at the Piper Jaffray 30th Annual Consumer Conference on Wednesday, June 9, 2010.

Warnaco Names Hans Schmitt Managing Director, Europe

The Warnaco Group, Inc. (NYSE: WRC) today announced the appointment of Hans Schmitt to the position of Managing Director, Europe. Schmitt, who is scheduled to join Warnaco in August, will oversee all elements of Warnaco's commercial business in Europe, reporting directly to Joe Gromek, Warnaco's President and Chief Executive Officer.

Schmitt joins Warnaco from Hugo Boss, where he most recently held the position of Senior Vice President, EMEA (Europe, Middle East and Africa). In this role, Schmitt had responsibility for both the Company's wholesale and retail businesses in the region. During his twelve-year career at Hugo Boss, Schmitt held a number of different positions in Europe and Asia, including Japan.

"We are pleased to welcome Hans to the Warnaco team. His strong leadership skills and understanding of the European retail and wholesale market will be an asset as we continue to expand our successful Calvin Klein businesses," commented Mr. Gromek.

About Warnaco

The Warnaco Group, Inc., headquartered in New York, is a leading apparel company engaged in the business of designing, sourcing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men's and women's sportswear and accessories under such owned and licensed brands as Warner's(R), Olga(R), and Speedo(R), as well as Chaps(R) sportswear and denim, and Calvin Klein(R) men's and women's underwear, men's and women's bridge apparel and accessories, men's and women's jeans and jeans accessories, junior women's and children's jeans and men's and women's swimwear.

The Warnaco Group, Inc. (NYSE: WRC) today reported results for the fourth quarter and fiscal year ended January 2, 2010.

For the fourth quarter:

  • Net revenues were $505.4 million, up 14% from the prior year quarter
  • Net revenues, on a constant currency basis, rose 8% compared to the prior year quarter
  • Gross margin increased 160 basis points from the prior year quarter to 44% of net revenues
  • Selling, general and administrative (SG&A) expense decreased 360 basis points to 34% of net revenues
  • Operating income was $28.0 million compared to an $11.9 million loss in the prior year quarter, and operating margin was 6% of net revenues.
  • Income per diluted share from continuing operations was $0.29 compared to a loss of $0.27 in the prior year quarter and includes costs related to pension expense, restructuring expenses, certain tax related items and other items of $0.35 and $0.55 per diluted share, respectively
  • On an adjusted, non-GAAP basis excluding the items above, income per diluted share from continuing operations was $0.64 compared to $0.28 for the prior year quarter.

Warnaco to Participate at JP Morgan SMID Cap Conference

The Warnaco Group, Inc. (NYSE: WRC) is scheduled to present at the JP Morgan 2009 SMID Cap Conference on Wednesday, December 2, 2009.

Warnaco’s presentation is scheduled to begin at approximately 10:15 am EST on Wednesday, December 2, 2009. The presentation will be webcast and may be accessed via the investor relations page of Warnaco’s website at www.warnaco.com. For those unable to participate, an archived broadcast will be available shortly following the presentation.

ABOUT WARNACO

The Warnaco Group, Inc., headquartered in New York, is a leading apparel company engaged in the business of designing, sourcing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men’s and women’s sportswear and accessories under such owned and licensed brands as Warner’s®, Olga® and Speedo®, as well as Chaps® sportswear and denim, and Calvin Klein® men’s and women’s underwear, men’s and women’s bridge apparel and accessories, men’s and women’s jeans and jeans accessories, junior women’s and children’s jeans and men’s and women’s swimwear.

The Warnaco Group, Inc. (NYSE: WRC) is scheduled to present at the 14th Annual Morgan Stanley Global Consumer and Retail Conference on Thursday, November 19, 2009.
The Warnaco Group, Inc. (NYSE: WRC) today announced the appointment of Michael Prendergast as President of its Chaps® division. Mr. Prendergast will oversee design, development, merchandising, marketing and sales for the Chaps® brand and will report directly to Frank Tworecke, President of the Sportswear Group.
The Warnaco Group, Inc. (NYSE: WRC) today reported results for the second quarter ended July 4, 2009.

For the second quarter:

  • Net revenues were $455.9 million, down 9% from the prior year quarter
  • Net revenues, on a constant currency basis, fell 0.5% compared to the prior year quarter
  • Gross margin decreased 320 basis points to 41% of net revenues
  • Selling, general & administrative (SG&A) expense, as a percent of net revenues, declined 260 basis points to 32%
  • Operating income was $40.7 million, or 9% of net revenues, compared to $48.9 million, or 10% of net revenues, in the prior year quarter
  • Income per diluted share from continuing operations was $0.40 compared to $0.56 in the prior year quarter, and include $0.08 and $0.14, respectively, of costs related to restructuring expenses, pension expense, certain tax related items and other items
  • Adjusted, non-GAAP (excluding the items above) income per diluted share from continuing operations was $0.48 compared to $0.70 for the prior year quarter


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