Kellwood reshuffles Oakland Operation to focus on developing Koret brand
28 Jul '05
6 min read
Repatriation of Foreign Earnings
The Company also announced it plans to take full advantage of the 2004 American Jobs Creation Act during the second half of fiscal 2005 by repatriating approximately $150 million of foreign earnings. Kellwood has previously included in its tax provision a portion of these foreign earnings that was not considered to be permanently reinvested in foreign operations.
As a result, the Company expects to recognize a one-time tax benefit of approximately $13 million or $0.46 per share during the second quarter, which will partially offset the restructuring charge previously discussed.
Missouri based Kellwood is a marketer of apparel and consumer soft goods with sales in excess of $2 billion. Kellwood specializes in branded as well as private label products, and markets to all channels of distribution with product specific to a particular channel.
Kellwood outfits the American family next door from coast to coast with apparel and consumer soft goods. They may not be aware that their homes are stocked with Kellwood products — branded as well as private label — but they are. Lifestyle brands that can be found in every channel of distribution, at every price point, for babies, kids, teens, and adults.
marketing@alchempro.com
