Warnaco's five-year strategic plan targets $1.5 billion revenue growth

By Lisa Kerner

Charlotte, N.C., March 22 - Warnaco Inc. president and chief executive office Helen McCluskey outlined the company's plan to grow revenue to $4 billion in 2016 from $2.5 billion today during the company's 2012 Investor Day presentation on Thursday.

The five-year strategic plan involves building a "consumer-centric" organization and focuses on growing the direct-to-consumer platform, expanding global reach, optimizing the Calvin Klein brand, gaining share in Heritage brands and managing cash to enhance shareholder value.

Chief financial officer Larry Rutkowski said Warnaco will primarily use cash to drive growth initiatives in the international and direct-to-consumer businesses, to repurchase shares and for strategic acquisitions.

Over the past five years, Warnaco has used more than $400 million of cash to repurchase more than 9 million shares. It purchased 4.3 million shares for $200 million in 2011.

The company is positioned for an acquisition of "significant scale," according to Rutkowski.

Warnaco is a New York-based manufacturer of intimate apparel, sportswear and swimwear.

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