Sales decline for sixth straight quarter; more Tommy stores might be the answer
Posted July 31, 2001
Sales fell 11 percent for The Tommy Hilfiger Corp. in its fiscal first quarter ended June 30, 2001, and net income fell 7.2 percent. It was the sixth consecutive quarterly earnings decline for the once-powerful apparel brand.
The company says it is shifting its focus to classic styles like solid-color polo shirts and khaki pants. And it says it is opening more stores to help increase sales. Sales at the company's nearly 100 outlet and full-priced stores rose 6.6 percent in the quarter.