NEW YORK — Nautica Enterprises Inc. Wednesday posted second-quarter profits that leaped over charge-depleted year-ago results and beat Wall Street expectations by a penny but said it plans a write-off for impairment at its disappointing...
NEW YORK — Nautica Enterprises Inc. Wednesday posted second-quarter profits that leaped over charge-depleted year-ago results and beat Wall Street expectations by a penny but said it plans a write-off for impairment at its disappointing Rockefeller Plaza store.
For the three months ended Aug. 31, earnings climbed 17.2 percent to $10.4 million, or 30 cents per share, from $8.9 million, or 26 cents, a year ago. The company last year took an aftertax charge of $6.2 million, or 18 cents, in connection with its Nautica Europe business. Analysts polled by Thomson First Call had expected earnings per share in the 29-cent range. Sales were down 8.5 percent to $182.2 million from $199.3 million.
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