Net income inched 1.5% higher to $8,285,000 against$8,161,000 for the period ended March 3 as total sales increased 21% to$183,416,000 from $150,591,000. Excluding Saucony integration costs andinventory write-up costs, net income would have been $10.6 million.
Segment results were buoyed by a 21% sales increase atSperry Top-Sider to $23,588,000 and a 159% gain in international revenues to$22,818,000 on strong sales of Tommy Hilfiger in Latin America and Saucony inEurope and Canada. Meanwhile, licensed Tommy Hilfiger sales dipped 18% to$14,993,000; wholesale Children’s Group sales tumbled 17% to $21,156,000 andKeds revenues slid 8% to $41,991,000 as department store sales declined on atough comparison. ... Log in to view full article.