Some Wind in Nautica's Sales

Nautica Enterprises Inc. (New York) announced a 14 percent net sales increase for its fourth quarter 2002 ended March 1, 2003.

For the full year, the apparel designer, manufacturer and retailer realized a practically flat sales increase of less than one percent.

“We are pleased to report that our earnings performance for the fourth quarter and full year were in line with analysts' consensus estimates,” said chairman, president and ceo Harvey Sanders. “We experienced stronger than originally anticipated selling in some of our divisions, which enabled us to post a double-digit sales increase for the quarter. Driving this performance was Earl Jean, Nautica Men's Jeans, Nautica Children's and the entire Nautica Sleepwear division. We are encouraged that these results were achieved during one of the retail sector's most challenging holiday periods.”