MIRA
INFORM REPORT
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Report Date : |
20.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE WARNACO GROUP, INC. |
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Registered Office : |
2711 Centerville Road, Suite 400, Wilmington, DE 19808 |
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Country : |
United States |
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Date of Incorporation : |
14.03.1986 |
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Com. Reg. No.: |
Delaware 2085832 |
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Legal Form : |
Public Company (NYSE=WRC) |
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Line of Business : |
Designs, Manufactures, Markets, Licenses, and Distributes a range of Intimate Apparel, Sportswear, and Swimwear Worldwide |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 3,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
THE WARNACO GROUP, INC.
Company acronym:
--
Contact Information
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Address |
501 7th Avenue USA |
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Telephone |
212-287-8250 |
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Fax |
212-287-8297 |
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Website |
www.warnaco.com |
Registration Data
|
Date of Registration |
03-14-1986 |
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Registration number |
Delaware 2085832 |
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Legal address |
c/o United States Corporation Company 2711 Centerville Road, Suite 400, Wilmington, DE 19808 |
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Legal Form |
Public Company (NYSE=WRC) |
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Share Capital |
The number of outstanding shares of the registrant’s common stock, par
value $0.01 per share, as of October 31, 2008 is as follows: 46,625,841.
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Shareholders
with Shares
The Company is quoted with the NYSE under symbol WRC.
Board/Executive
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Name |
Joseph R. GROMEK |
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Position within the company |
President and CEO |
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Name |
Lawrence R. Rutkowski |
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Position within the company |
CFO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
The Warnaco Group, Inc. designs, manufactures, markets, licenses, and
distributes a range of intimate apparel, sportswear, and swimwear worldwide.
The company offers sportswear for men, women, and juniors, including jeans
wear, knit and woven shirts, tops, and outerwear; intimate apparel, including
bras, panties, sleepwear, loungewear, shapewear, and daywear for women, and
underwear and sleepwear for men; and swimwear for men, women, juniors, and children
comprising swim accessories and fitness and active apparel. It primarily offers
its products under various brand names, such as Calvin Klein, Speedo, Chaps,
Warner’s, and Olga. The company distributes its products primarily to wholesale
customers through various distribution channels, including department stores,
independent retailers, chain stores, membership clubs, specialty and other
stores, and mass merchandisers, as well as through Internet. As of December 29,
2007, it operated 740 Calvin Klein retail stores consisting of 56 free-standing
stores, 68 outlet free-standing stores, 1 on-line store, and 615
shop-in-shop/concession stores; and 1 Speedo on-line store. The company also
had 388 Calvin Klein retail stores operated by third parties under retail
licenses or franchise and distributor agreements. The Warnaco Group, Inc. was
founded in 1874 and is based in New York, NY.
Staff
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Number of staff employed |
4,656 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, Far East |
Facilities
|
Rented |
Office |
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Premises Size |
10,000 sq. feet |
Subsidiaries
and Participation
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Parent Company |
Public Company (NYSE=GRC) |
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Subsidiaries |
There are more than 50 subsidiaries |
Branches
|
Address |
The Company maintains numerous stores in the U.S. |
Bankers
|
Bank |
The Bank of New York … |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
Documents on attachment
Reporter Comments
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Comments |
A S.E.C.
officer confirmed the good standing of the Company. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium Trade Risk and to be
fair. According to our credit analysts, during the last 6 months, 81% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 20 days
beyond terms. |
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MAX CREDIT |
USD 3,000,000+ |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
USD 3,000,000+ |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)