NEW YORK — While its line of women’s jeans and casualwear awaits a scheduled March debut at wholesale, Tommy Hilfiger Corp. continues to rack up powerful gains in its men’s wear businesses. Profits in the third quarter ended Dec. 31 rose 41.9 percent on a 47.1 percent gain in sales.
Earnings in the three months were $17.6 million, or 47 cents a share, beating Wall Street estimates of 42 cents. A year earlier, Hilfiger earned $12.4 million, or 34 cents. Sales in the latest quarter soared to $130.5 million from $88.7 million.
Joel J. Horowitz, chief executive officer, noted in a statement that both the men’s and boy’s in-house product lines contributed to the sales increase and licensed products, including Tommy fragrance, did well.
In the nine months, profits jumped 53 percent to $43.6 million, or $1.17, from $28.5 million, or 78 cents. Sales climbed 51.9 percent to $352 million from $231.7 million.
As reported, the women’s line is being developed under a licensing deal with the firm’s sister company, Pepe Jeans London Corp. Designer Hilfiger stated in an interview in December that he expects wholesale sales to hit $80 million to $100 million the first year. — Fairchild News Service