"Compared to just a year ago, their business has experienced explosive revenue growth, more than doubling its volume in the period. We continue to be very excited about the prospects of this business both domestically and internationally."
Mr. Marciano concluded, "On a consolidated basis, we increased net earnings by 71.9%, driven by earnings growth in all of our businesses around the world. Our earnings were well balanced and our performance once again demonstrates the power of our diversified business model."
Total net revenue for the first quarter of fiscal 2008 increased 42.3% to $377.9 million from $265.7 million in the prior-year period. The Company's retail stores in the U.S. and Canada generated revenue of $179.5 million in the first quarter of fiscal 2008, a 19% increase from $150.9 million in the same period a year ago.
Comparable store sales increased 13.6% for the quarter ended May 5, 2007, compared to the thirteen weeks ended May 6, 2006. The Company operated 336 retail stores in the U.S. and Canada at the end of the first quarter of fiscal 2008 versus 316 stores a year earlier.
Net revenue from the Company's wholesale segment, which includes the Company's Asian operations, increased 77.4% to $59.2 million in the first quarter of fiscal 2008, from $33.4 million in the prior-year period.
Net revenue from the Company's European segment increased 77.2% to $118.9 million in the first quarter of fiscal 2008, compared to $67.1 million in the prior-year period.
Licensing segment net revenue increased 41.5% to $20.3 million in the first quarter of fiscal 2008, from $14.3 million in the prior-year period.
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
