Warnaco anticipates the review will result in a restructuring of the European business. While early in the process, Warnaco expects the review will identify considerable cost savings and operating efficiencies, and will, over time, result in improved profitability.
Helen McCluskey, President and Chief Executive Officer of the Warnaco Group, said, “Our Calvin Klein Jeans and Calvin Klein Underwear businesses are powerful and continue to resonate with European consumers. We expect these actions will enable the Company to better execute against our strategic plans. We will provide an update on our European performance and the status of the review process on our second quarter investor call.”
The Warnaco Group, Inc., headquartered in New York, is a leading global apparel company engaged in the business of designing, sourcing, marketing and selling men’s, women’s and children’s sportswear and accessories, swimwear and intimate apparel under such owned and licensed brands as Calvin Klein, Speedo, Chaps, Warner's and Olga.
The Warnaco Group Inc
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