Fashion group Tommy Hilfiger today reported a drop in fiscal first-quarter earnings and revenue, but said its slightly better-than-expected results were aided by improvements in its product offerings.
The New York-based apparel designer and retailer said net income for the first quarter ended June 30th was $9 million, or 10 cents per share, compared with $9.7 million, or 10 cents per share, a year ago.
Revenues fell to $355.7 million from $399.9 million in the year-ago first quarter.
Shares of Tommy Hilfiger closed at $13.10 on the New York Stock Exchange on Friday. The stock has fallen about 13 per cent since it reported flat fiscal fourth-quarter earnings in May.