HONG KONG: Tommy Hilfiger Swings To Q4 Loss, Sales Slip
Famous fashion house Tommy Hilfiger Corp on Thursday revealed it swung to a fourth quarter net loss as it was hit by a hefty write-down at its US wholesale unit. The Hong Kong-based firm posted a net loss of a net loss of $113.8 million, or $1.26 per share, versus a net profit of $40.7m, or 45 cents per share, in the year-ago period. Excluding the write-down, earnings were $28.3m, or 31 cents per share.
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