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TOMMY HILFIGER REPORTS FISCAL 1994 FIRST QUARTER RESULTS

 HONG KONG, Aug. 5 /PRNewswire/ -- Tommy Hilfiger Corporation (NYSE: TOM) today reported its first quarter results for the fiscal year ending March 31, 1994.
 For the first quarter ended June 30, 1993, net revenues increased 51.9 percent to $39.8 million, compared to $26.2 million for the same quarter last year. Net income increased 42.9 percent to $3.0 million, compared to $2.1 million in the same period last year. Earnings per share increased 11.1 percent to $.20 from $.18 in the comparable period last year. Tommy Hilfiger Corporation had 14,983,000 shares outstanding on a weighted average basis during the quarter, versus 11,400,000 shares during the comparable quarter last year.
 Joel J. Horowitz, president and chief operating officer of Tommy Hilfiger Corporation, said, "This quarter is well in line with our expectations and we are pleased that even with the increased number of shares outstanding our earnings per share were greater than last year. The in-store shop program continues its strong expansion, demonstrated by our opening 85 new in-store shops in the first quarter, bringing our total number of shops, as of June 30, 1993, to 303."
 The company also began shipping its boys collection in the first quarter. "Our initial sales for the boys collection at the retail level are encouraging," Mr. Horowitz said.
 In addition, in the first quarter the company signed a license agreement with Hartmarx Corporation. This marks the expansion of the Hilfiger line to include tailored clothing, which is expected to be available in stores in the Fall of 1994. "We are very excited about entering a new segment of the men's apparel business," Mr. Horowitz said.
 Tommy Hilfiger Corporation, through its subsidiaries, sources and markets men's sportswear and boyswear under the Tommy Hilfiger- trademark. The company's products are sold in the United States, Canada, Japan, and Central and South America.
 TOMMY HILFIGER CORPORATION
 Selected Financial Information
 (In millions, except per share amounts)
 Three months ended June 30 1993 1992
 Net revenues $39.8 $26.2
 Income before income taxes 4.9 3.4
 Provisions for income taxes 1.9 1.3
 Net income $3.0 $2.1
 Earnings per share $0.20 $0.18
 Weighted average number of shares
 outstanding 15.0 11.4
 TOMMY HILFIGER CORPORATION
 Selected Financial Information
 Balance Sheet Data
 (In thousands)
 6/30/93 3/31/93
 Working Capital $55,285 $53,748
 Total Assets 87,611 84,704
 Short-term Debt 7,619 8,068
 Shareholders' Equity 74,360 68,700
 Notes: On Sept. 29, 1992, the company issued 3,565,000 ordinary shares in an initial public offering.
 Earnings per share for the periods ended June 30, 1993 and 1992 are based on the weighted average number of ordinary shares outstanding.
 -0- 8/5/93
 /CONTACT: Joel J. Horowitz of Tommy Hilfiger U.S.A., Inc., 212-840-8888/
 (TOM)


CO: Tommy Hilfiger Corporation ST: New York IN: TEX SU: ERN

SM -- NY015 -- 9730 08/05/93 09:07 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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