Tommy Trips

Tommy Hilfiger Corp. reported that net revenue and net income tumbled in its third quarter of fiscal 2001 ending Dec. 31, 2000. Despite the 8 percent revenue-drop and 28 percent income-drop, however, the performance exceeded analysts'expectations.

Revenues for the quarter increased 12.6 percent in the company's retail segment, driven by sales in newly opened and expanded outlet stores, which more than offset declines in comparable store sales. Licensing segment revenues were up 2.5 percent compared to last year. However, these increases were more than offset by anticipated decreases in the men's and women's components, which amounted to 16.1 percent and 12.3 percent, respectively, as well as a decline of 13.7 percent in childrenswear – a result, the company said, of unanticipated weakness in the category.