Second quarter revenues were $1,485.6 million, a decline of 11% compared with $1,677.5 million in the second quarter of 2008, with foreign currency translation accounting for 3 percentage points of the decline. Net income in the current quarter was $75.5 million compared with $104.0 million in the prior year's quarter. Earnings per share declined to $.68 from $.94, with over half or $.14 per share of the decline due to higher pension expense and foreign currency translation impacts of $.11 and $.03 per share, respectively.

For the first half of 2009, revenues were $3,211.1 million, down 9% from the $3,523.8 million in the first half of 2008. Foreign currency translation accounted for 4 percentage points of the decline. Net income and earnings per share each declined 30%, to $176.5 million and $1.59 respectively. Over half or $.36 per share of the earnings per share decline was due to higher pension expense and foreign currency translation impacts of $.23 and $.13 per share, respectively.

"Business remains undeniably tough across most categories, channels and geographies, but I am pleased that our largest brands - Wrangler^(R), Lee^(R), The North Face^(R) and Vans^(R) - continue to gain share in most markets. I am also pleased by how our brands and businesses have risen to these challenging times by controlling costs, reducing inventories and remaining focused on the long-term drivers of growth," said Eric C. Wiseman, Chairman, President and Chief Executive Officer. "While we see some signs of stabilization occurring, we remain very cautious about the outlook for consumer spending for the balance of the year. We will continue to plan our business conservatively while investing in our brands and maximizing every effort to gain market share."

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