USA: Nautica Enterprises Announces Second Quarter Results
Nautica Enterprises, Inc (NASDAQ: NAUT) today reported sales and earnings for its second quarter ended September 2, 2000. For the second quarter, net sales increased 11.3 per cent to $169.4m from $152.2m in the second quarter of last fiscal year. Net earnings were $13.4m compared to $14m in the prior year period. Diluted earnings per share increased to $0.41 from $0.38 and basic earnings per share increased to $0.43 from $0.41 in the second quarter of last year. For the six months ended September 2, 2000, net sales increased 15.6 per cent to $290.6m from $251.5m in the same period last year. Net earnings were $16.5m compared to $18.4m in the prior year period. Diluted earnings per share remained constant at $0.50 and basic earnings per share were $0.51 compared to $0.53 in the same period last year. Harvey Sanders, chairman and CEO of Nautica Enterprises said: "We continue to successfully execute our business diversification strategy and, during the second quarter, began to realize the benefit from investments made in our newer growth vehicles. Of particular note, our men's jeanswear line has been well received at retail and continues to gain significant door growth."Mr Sanders concluded: "Our core Nautica sportswear brand remains an important resource among our retail partners and has served as a platform from which we are able to incubate a pipeline of meaningful growth concepts. In a difficult retail environment, we remain optimistic regarding the second half of fiscal 2001 and our prospects for fiscal 2002."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Rana Plaza four years on – Timeline of change
- Trump and Brexit get a dose of pragmatism
- Why collaboration is key to fashion supply chains
- Industry groups reaffirm commitment to Bangladesh
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- Adidas and Reebok top transparency index
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective