WRC: The Warnaco Group, Inc. Market Currents Page 2

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Tuesday, September 11, 2012, 8:49 AM The double whammy of a downgrade on Coach and a biting profit warning from British luxury player Burberry (BURBY.PK) is cutting a wide swath of selling in the sector. Though some of Burberry's struggles are pegged as "self-afflicted," the company's weakening sales in Europe and China has to be considered alarming for high-end sellers. Premarket: COH -3.4%, RL -2.7%, WRC -0.7%, KORS -1.2%,, TIF -2.5%. Comment! [Consumer, On the Move]
Monday, August 6, 2012, 6:22 PM More on Warnaco Group (WRC): Q2 earnings come in mixed, beating on the bottom line but missing on top line results. Net earnings plunged 79% Y/Y, weighed down by debt charges tied to the sale of its Lejaby lingerie brand, plus challenging market conditions - particularly in the U.S. and Europe - and adverse currency impact. The company also cut its full-year outlook, lowering the top end of its EPS to a range of $4 to $4.15 on net revenue of down 2% to flat. Shares -1.5% AH. Comment! [Earnings, On the Move]
Monday, August 6, 2012, 5:49 PM Warnaco Group (WRC): Q2 EPS of $0.72 beats by $0.08. Revenue of $564M (-4.6% Y/Y) misses by $7M. (PR) Comment! [Earnings, Consumer]
Wednesday, May 23, 2012, 2:00 PM Warnaco (WRC -0.6%) fares slightly better than the overall market after Brean Murray upgraded the shares to Buy on valuation earlier today. Brean says the company has turned a corner and the worst may be over for them. Comment! [On the Move]
Tuesday, May 8, 2012, 10:44 AM Shares of Ralph Lauren (RL -8.2%), Michael Kors (KORS -5.2%), and Coach (COH -2.7%) all get hit hard after Fossil drops a bombshell on the luxury sector with weak sales in Europe. While FOSL was the spark, the selloff appears to be rooted in something deeper as it spills over to taint names not associated with selling just the highest-end clothing. Decliners: PERY -2.7%, OXM -2.7%, LIZ -5.5%, WRC -5.5%, GPS -3.1%, ANF -6.1%. 3 Comments [On the Move, Consumer]
Thursday, May 3, 2012, 8:31 PM Warnaco Group (WRC): Q1 EPS of $0.90 misses by $0.06. Revenue of $615.5M (-7.1% Y/Y). (PR) Comment! [Earnings, Consumer]
Thursday, March 22, 2012, 4:00 PM Warnaco Group (WRC +0.7%) ticks up after saying earlier it's hired former Gap (GPS +0.7%) Senior Vice President Karyn Hillman to lead the merchandising of its Calvin Klein business as the apparel company looks to expand into new markets. Comment! [On the Move]
Monday, March 5, 2012, 10:01 AM Phillips-Van Heusen (PVH +0.4%) unit Calvin Klein plans to reacquire licenses from Warnaco (WRC +0.8%) in order to help it re-establish its brand in Europe. The company sees sales in Europe reaching as high as $500M within 5 to 7 years for the CK line. Comment! [Consumer]
Tuesday, February 28, 2012, 6:31 PM More on Warnaco (WRC): Q4 misses across the board on higher restructuring and pension charges as the apparel company's sales growth was driven almost exclusively by its Calvin Klein brand. The company also issues downbeat guidance for 2012, now expecting to earn between $4.20 - $4.45 per share on revenue growth of 4% - 6% over 2011 levels. Street estimates are for an EPS of $4.47 and revenue growth of around 7%. Comment! [Consumer, Earnings]
Tuesday, February 28, 2012, 6:09 PM Warnaco Group (WRC): Q4 EPS of $0.97 misses by $0.02. Revenue of $615M (+3.9% Y/Y) misses by $12M. (PR) Comment! [Earnings, Consumer]
Friday, February 24, 2012, 2:35 PM Benchmark is cutting Warnaco (WRC -0.1%) to Hold ahead of its Q4 report next week, saying it's expecting inline numbers, but for guidance to fall short for a host of reasons, including headwinds from Olympic marketing, a highly promotional environment, FX headwinds and the company's exposure to southern Europe. Comment! [Consumer]
Tuesday, February 7, 2012, 11:47 AM Street expectations are too high for Urban Outfitters (URBN -1%), Fossil (FOSL -0.1%) and Warnaco (WRC -1.1%), Brean Murray says in cutting its outlook on the three retailers. At URBN, the departure of CEO Glen Senk "almost ordain(s) that there will be no material turn until Holiday 2012, at the latest," while FOSL and WRC have overheated expectations despite strong market positions. Comment! [Consumer, On the Move]
Thursday, January 12, 2012, 9:24 AM Warnaco (WRC) -6.9% premarket after CEO Helen McCluskey says Q4 results are expected to come in "a few pennies below" earlier estimates, due to factors including shortfalls in Europe and unfavorable currency rates. She says same-store sales improved throughout the quarter, with December same-store sales up 5%. Comment! [Consumer, Earnings, On the Move]
Wednesday, January 4, 2012, 12:26 PM Warnaco (WRC +5.1%) moves higher after Morgan Stanley ups the shares to Equalweight, citing fewer Q/Q promotions compared to its peers over the holidays, which it expects will boost Q4 gross margins. Comment! [On the Move]
Wednesday, December 14, 2011, 5:44 AM Warnaco (WRC) announced yesterday that COO Helen McCluskey would succeed Joseph Gromek as chief executive, effective Feb. 1. McCluskey hopes to double the company's revenue (~$2.3B last fiscal year) over the next 6-7 years through acquisitions, expansion into emerging markets and the addition of more Warnaco-owned retail stores. Comment! [Consumer]
Thursday, November 3, 2011, 4:20 PM The Warnaco Group (WRC): Q3 EPS of $1.07 in-line. Revenue of $645M (+8% Y/Y) misses by $11M. Shares -0.2% AH. (PR) Comment! [Earnings, Consumer]

WRC The Warnaco Group, Inc.

WRC

The Warnaco Group, Inc.