US wholesale revenue for the third quarter of fiscal 2006 was $107.5 million compared to $168.8 million for the third quarter of fiscal 2005, a decrease of 36.3 percent. Volume declined in each of the menswear, womenswear and childrenswear divisions primarily as a result of lower order levels from US department stores. Approx. $13.5 million of this reduction is attributed to the company's exit of the Young Men's Jeans wholesale business during fiscal 2005.
International wholesale revenue, consisting of the company's European and Canadian wholesale businesses, totaled $80.6 million for the third quarter of fiscal 2006 versus $77.4 million for the third quarter of fiscal 2005, an increase of 4.1 percent. The increase was driven primarily by continued momentum in Europe. A year over year decline in the Euro versus the US Dollar partially offset this increase.
For the nine months ended December 31, 2005, net revenue decreased 5.8 percent to $1,218.4 million from $1,293.7 million for the same period of fiscal 2005.
The company continues to expect consolidated revenue for the full fiscal year ending March 31, 2006 to decrease in the mid to high single digit percentage range.
The company's current outlook for the year ending March 31, 2007 is for revenue to increase in the mid single digit percentage range as compared to our expected revenue in fiscal 2006.
Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets men's and women's sportswear, jeanswear and childrenswear.
Tommy Hilfiger Corporation
marketing@alchempro.com
