USA: Warnaco FY Loss Widens To $965m, Cuts Debt
Leading clothing manufacturer Warnaco Group Inc on Friday reported a wider net loss for 2002 but revealed it had slashed its debt since emerging from Chapter 11 bankruptcy in early February. The New York-based maker of brand-name apparel such as Calvin Klein jeans, Speedo underwear and Chaps by Ralph Lauren, posted a net loss of $964.9 million, or $18.21 a share, for 2002, versus a net loss of $861.2m, $16.28 a share, in 2001.
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