Warnaco (WRNC) Repositions Swimwear Group; Updates Guidance

September 18, 2007 4:57 PM EDT
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Price: $50.13 --0%

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Warnaco Group, Inc. (NASDAQ: WRNC) said it is repositioning of its Swimwear Group designed to enhance the Company's future growth and profitability. Additionally, the Company announced that it will explore strategic alternatives for its Lejaby business.

On an adjusted (non-GAAP) basis, the Company now expects revenues for Fiscal 2007 to grow 9 - 11% over comparable Fiscal 2006 levels and expects income per diluted share from continuing operations of $2.05 - $2.15 (assuming minimal pension expense).

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