Despite a 5% drop in sales, the manufacturer of New York announces a 12% increase in profits in the third quarter. A report obtained by developing the activity Calvin Klein and a policy of cost reduction.
The group posted a net profit of 29.7 million against 26.5 million the previous year. The sales figure for his share back to 520.9 million dollars, with a broad impact of exchange rates. The fall affects all sectors, sportswear (-1% to 312.9 million dollars) in underwear (-11% to $ 177.8 million) through the swimwear (-5% $ 30.2 million). Offset by a decline in the broad policy of reducing costs, initiated last year. A result which pushed the company to raise its annual forecast, the collapse of the announced earnings are now 3-5% against 7-9% previously.
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“We’re very early in the fourth quarter and we’re encouraged and optimistic about our growth prospects for the end of 2009 and the arrival of 2010. Our disciplined efforts to control our spending and our team manager brought a great success in reducing our inventories from one year to another. We are confident that our international platform, with its cash and its strong balance sheet, we will provide significant opportunities to improve the value of our shares. “
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Tags: Calvin Klein, swimwear, underwear, Warnaco