Apparel company Tommy Hilfiger Corporation has reported results for the third quarter of its fiscal year ending March 31, 2006.
The net revenue for the third quarter of fiscal 2006 was $396.6 million compared to $430.7 million for the third quarter of fiscal 2005, a decrease of 7.9 percent. Operating income was $22.6 million for the third quarter of fiscal 2006 compared to $20.5 million in the prior year's third quarter, an increase of 10.2 percent.
The company earned net income of $15.5 million as compared to $20.2 million for the same period of fiscal 2005, a decrease of approximately 23 percent. Third quarter results for fiscal 2006 results included an income tax provision of $6.0 million or a 28 percent effective tax rate compared with a tax credit of $5.5 million in the comparable prior year's quarter.
Retail revenue for the third quarter of fiscal 2006 was $185.8 million compared to $165.3 million a year earlier, an increase of 12.4 percent. Comparable sales at US company stores, the largest retail division, increased in the low single digit percentage range for the quarter.
As of December 31st 2005, the company's worldwide store count was 223, including 169 company stores and 54 specialty stores, compared to 198 stores a year earlier, consisting of 158 company stores and 40 specialty stores. Included in the current year's total are eight stores that the Company opened in the third quarter of fiscal 2006, as well as two closures.
marketing@alchempro.com
