Barclays Maintains an 'Overweight' on Warnaco Group (WRC); Succession Plan Unfolds

Barclays maintains an 'Overweight' on Warnaco Group (NYSE: WRC) price target of $65.00.

Barclays analyst says, "While timing was previously uncertain, we believe that Ms. McCluskey's 2010 promotion to COO was a clear indication of the company's ultimate succession plan for the role of CEO. We have great respect for Ms. McCluskey, and look forward to working with her as the Chief Executive Officer. Helen McCluskey originally joined Warnaco in 2004 as the President of Intimate Apparel, and has since doubled revenue in the Calvin Klein Underwear business over a four-year period, overseen a number of key product launches, and restored growth to the Speedo brand."

For an analyst ratings summary and ratings history on Warnaco Group click here. For more ratings news on Warnaco Group click here.

Shares of Warnaco Group closed at $49.78 yesterday.

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