The Warnaco Group, Inc. (NYSE: WRC) today reported results for the second quarter ended July 2, 2011.
Highlights for the second quarter:
- Net revenues increased 14%, to $591.4 million, compared to the prior year quarter
- International net revenues increased 32% compared to the prior year quarter
- Direct to consumer net revenues increased 38% compared to the prior year quarter
- Income per diluted share from continuing operations was $1.01 compared to $0.65 in the prior year quarter
- Income per diluted share from continuing operations on an adjusted, non-GAAP, basis was $0.82 compared to $0.71 in the prior year quarter (both of which exclude restructuring expenses, pension expenses, tax related items and other items)
- The Company purchased approximately 1.1 million shares of its common stock for approximately $58.5 million pursuant to its share repurchase program