USA: Nautica Swings To Q4 Profit As Sales Rise
Apparel giant Nautica Enterprises Inc on Thursday revealed it swung to a fourth quarter profit as solid sales of jeans, children's clothing and sleepwear offset a hefty charge related to the restructuring of its European unit. The New York-based company, whose brands include Earl Jean and John Varvatos, posted a net profit of $5.6 million, or 16 cents per share, for the quarter to March 1 versus a loss of $8.4m, or 25 cents per share, in the year prior.
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