USA: Tommy Hilfiger records $7.6 loss for 1Q

NEW YORK: Tommy Hilfiger Corp. (TOM) has recorded a first-quarter loss of $7.6 million, or 8 cents a share. The company had expected its first-quarter loss to range from 10 cents to 13 cents a share.

Hilfiger President and Chief Executive David Dyer stated that the company had speculated the loss before hand and still the loss is slightly better than the forecast.
 
Hilfiger's first-quarter revenue decreased to $328.6 million from $367.2 million a year ago.

The company continues to expects its fiscal 2005 income before items to decrease in the mid-teen percentage range from the $1.50 a share earned last year. Wall Street expects Hilfiger to earn $1.27 a share for the year ending in March.

Hilfiger also backed its fiscal 2005 revenue guidance calling for a high single digit percentage decrease from the $1.88 billion generated last year. Analysts expect Hilfiger to generate revenue of $1.73 billion.

Tommy Hilfiger expects capital expenditures of about $70 million for fiscal 2005. The programs include expansion and maintenance of in-store shops and fixtured areas.

Hilfiger said it seeks to consolidate and enhance some facilities. The efforts could result in non-recurring charges of about 3 cents a share for the rest of the year. These deals could require additional capital expenditures of $10 million to $15 million for the year, the company added.

Source: Bharattextile.com News Service


Send your News/Releases for publication to [email protected]
Added: August 4, 2004
Start script - 1513039537.5472 Start news id check - 1513039537.5472 After news id check - 1513039537.5477 After cookie_code - 1513039538.0902 Before news detail - 1513039538.0902 After news detail - 1513039538.0906 Start cat select - 1513039538.0907 After cat select - 1513039538.0909 before preg replace - 1513039538.0909 After preg replace - 1513039538.0909 Before tag engine - 1513039538.0909 After tag engine - 1513039538.0945 Before mptt engine - 1513039538.0945 After mptt engine - 1513039538.0945 Before related engine - 1513039538.0945 After related engine - 1513039538.0962 Before update hits - 1513039538.0962 After update hits - 1513039538.0965 After update news_hits - 1513039538.0969 After mem_only_views - 1513039538.097 -------------------------------------------------- Total Exec time:- 0.54989981651306
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2017. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 12-12-2017