By  on May 6, 2011

The Warnaco Group Inc. on Thursday posted a decline in first-quarter income, but said it has been investing in the business to drive revenue growth and raised fiscal year 2011 guidance.

For the three months ended April 2, income was $44 million, or 97 cents a diluted share, down from $48 million, or $1.02, last year. Excluding restructuring charges and other expense items, income per diluted share from continuing operations was $1.10 versus $1.09 a year ago. Revenues rose 12.6 percent to $662.2 million from $588.2 million, while comparable store sales rose 8 percent.

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