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Exhibit 99.1


Investor Relations:		Deborah Abraham
		Vice President, Investor Relations
		(212) 287-8289

FOR IMMEDIATE RELEASE

WARNACO REPORTS THIRD QUARTER 2009 RESULTS
Company Raises Adjusted Fiscal 2009 Guidance

NEW YORK — November 4, 2009 — The Warnaco Group, Inc. (NYSE: WRC) today reported results for the third quarter ended October 3, 2009.

For the third quarter:

	•		Net revenues were $520.9 million, down 5% from the prior year quarter

	•		Net revenues, on a constant currency basis, fell less than 1% compared to the prior year quarter

	•		Gross margin decreased 260 basis points to 44% of net revenues

	•		Selling, general & administrative (SG&A) expense, as a percent of net revenues, declined 550 basis points to 32%

	•		Operating income was $60.3 million, or 12% of net revenues, compared to $48.0 million, or 9% of net revenues, in the prior year quarter

	•		Income per diluted share from continuing operations was $0.66 compared to $0.62 in the prior year quarter, and the Company’s reported tax rate was 40% compared to 31% in the prior year quarter

	•		Adjusted, non-GAAP income per diluted share from continuing operations (as detailed in the accompanying tables) was $0.75 compared to $0.72 for the prior year quarter

	•		GAAP and non-GAAP income per diluted share from continuing operations were negatively affected by a $3.6 million charge, or $0.05 per diluted share, associated with inventory write-downs related to racing swimwear that has been banned from use in competition

	•		Net inventories were down 11% and cash and cash equivalents were up $100 million on a year-over-year basis

The accompanying tables provide a reconciliation of actual results to the as adjusted results.

The Company believes it is valuable for users of the Company’s financial statements to be made aware of the as adjusted financial information, as such measures are used by

management to evaluate the operating performance of the Company’s continuing businesses on a comparable basis.

“Our strong third quarter results, in the midst of a challenging environment, reflect the continuing positive contribution of our long-term growth initiatives,” stated Joe Gromek, Warnaco’s President and Chief Executive Officer. “During the quarter, our global expansion of Calvin Klein^® continued as total international revenues rose 6% in constant currency over the prior year quarter, accounting for 61% of our total revenues. Also, our direct-to-consumer initiative continued to advance as we opened 40 new points of distribution and remain on track to grow square footage by over 20%, or an additional 120,000 square feet, this year. Our growth at wholesale and retail, coupled with expense and inventory management across all channels, contributed to a 280 basis point increase in operating margin and adjusted income per share from continuing operations that surpassed the prior year quarter.”

Mr. Gromek continued, “We are off to a strong start to the fourth quarter and are encouraged and optimistic about the prospects for growth as we end 2009 and move into 2010. As a result, we have raised our annual guidance. Our disciplined efforts to control expense and manage working capital have yielded great success with year-over-year inventory reductions of $34 million, contributing to cash on hand of $229 million, an increase of over $100 million. We are confident that our global platform together with this strong cash position and solid balance sheet will afford us significant opportunities to enhance shareholder value.”

Fiscal 2009 Outlook

For fiscal 2009, on an adjusted basis (excluding restructuring expense and certain tax related items and assuming minimal pension income):

	•		The Company now anticipates net revenues will decline 3% -5% and expects constant dollar net revenues to increase 1%-2%.

	•		Based on recent currency exchange rates, the Company now expects diluted earnings per share from continuing operations in the range of $2.70 - $2.80

	•		The Company’s prior guidance was for net revenue declines in the range of 7%-9% and diluted earnings per share from continuing operations of $2.60 - $2.75 per share

The accompanying tables provide a reconciliation of expected diluted earnings per share from continuing operations, on a GAAP basis (and based on recent currency exchange rates) of $2.45 - $2.51 per diluted share (assuming minimal pension income), to the adjusted fiscal 2009 outlook above.

Third Quarter Highlights

Total Company

Net revenues fell 5%, and in constant dollars fell less than 1%, compared to the prior year quarter. Growth in almost every international region, which led to a 6% increase in

constant dollars, helped to offset 10% domestic declines related to a shift in timing of membership club sales and continued economic challenges in the U.S. market. Ongoing expansion of the Company’s international Calvin Klein businesses, particularly in Europe, China and Central and South America, contributed to total international revenue growth in the mid-single digits, in constant currency.

Gross margin decreased 260 basis points to 44% of net revenues. Gross margin was adversely affected by currency exchange rates and a shift in revenue mix toward lower-margin businesses. Additionally, gross margin was adversely impacted by a $3.6 million charge related to the write-down of inventory associated with the Company’s LZR Racer and related swimsuits, after FINA’s (competitive swimming’s governing body) ruling banned the use of these suits in competition.

SG&A expense declined 19% to $165.7 million. SG&A as a percent of net revenues decreased 550 basis points to 32% of net revenues. The decrease reflects the ongoing benefit of the Company’s expense reduction initiatives and the effects of currency exchange rates, partially offset by increased expense related to the opening of additional retail stores. The prior year quarter also included approximately $15.0 million of currency related expense.

Operating income increased 26% to $60.3 million, or 12% of net revenues, compared to $48.0 million, or 9% of net revenues, in the prior year quarter. Operating income for the third quarter of fiscal 2009 and 2008 was adversely affected by $1.5 million and $4.2 million, respectively, of restructuring charges and pension expense.

The Company’s reported tax rate was 39.5% compared to 31.1% in the prior year quarter. The lower reported tax rate in the prior year period was due to a $6 million one-time tax benefit. The Company’s normalized tax rate was 33.9% for the quarter compared to 31.9% in the prior year quarter, reflecting a shift in earnings to jurisdictions with higher tax rates.

Income from continuing operations was $31.2 million, or $0.66 per diluted share, compared to $29.4 million, or $0.62 per diluted share, in the prior year period.

Income from continuing operations, on an adjusted basis (excluding costs related to restructuring expenses, pension expense and certain tax related items), as detailed in the accompanying schedules, was $0.75 per diluted share compared to $0.72 per diluted share in the prior year period.

The impact of foreign currency exchange rates negatively affected fiscal 2009 third quarter net revenues, gross profit, SG&A and operating income by approximately $22.1 million, $20.8 million, $7.6 million and $13.2 million, respectively, and decreased income from continuing operations by approximately $9.8 million, or $0.21 per diluted share.

Segment Results

Sportswear

While Sportswear Group net revenues fell 1% to $312.9 million on a reported basis, net revenues were up 4% on a constant currency basis. Operating income increased 21% to $48.5 million, or 16% of Sportswear Group net revenues. Sportswear results benefited from reductions in SG&A expense and reduced restructuring expense partially offset by a decline in gross profit, primarily the result of currency exchange rates. The Company continued the global expansion of its Calvin Klein Jeans business, both at wholesale and retail, reporting international constant currency net revenue growth approaching 12%.

Intimate Apparel

Intimate Apparel Group net revenues fell 11% to $177.8 million on a reported basis and were down 8% on a constant currency basis. Operating margin was 18% of Intimate Apparel Group net revenues, up 80 basis points compared to the prior year quarter. Currency exchange rates and a challenging domestic department store environment adversely affected net revenues of the Calvin Klein Underwear wholesale business, and were partially offset by the continued global expansion of Calvin Klein Underwear’s retail initiative. The results of the Intimate Apparel Group’s Core brands were adversely affected by decreased sales in the mid-tier channel (due to the prior year quarter benefiting from expanded distribution) and weaker department store replenishment related to the economy.

Swimwear

Swimwear Group net revenues fell 5% to $30.2 million on a reported basis and were down 3% on a constant currency basis. The Swimwear Segment reported an operating loss of $7.4 million, a 27% improvement compared to the prior year quarter. The operating loss includes a $3.6 million charge related to the recent FINA ruling, which banned the LZR Racer and similar swimsuits from competition. Lower sales into the Sporting goods channel, as 2008 Olympic related sales did not recur in 2009, was the primary factor adversely affecting Swimwear Group net revenues.

Balance Sheet

Cash and cash equivalents at October 3, 2009 rose to $229.3 million compared to $122.9 million at October 4, 2008. At quarter-end the Company had no borrowings under its revolvers and was in a net cash position of $20.4 million compared to a net debt position of $124.9 million in the prior year quarter.

Accounts receivable, net, were $326.4 million at October 3, 2009, virtually unchanged from $326.6 million at October 4, 2008.

Net inventories were down 11% to $281.2 million at October 3, 2009 compared to $315.6 million at October 4, 2008.

“We ended the third quarter in a strong financial position. Our disciplined execution and focus on net operational working capital, which is down $45 million compared to the prior year quarter, put us in a positive net cash position,” commented Larry Rutkowski,

Warnaco’s Executive Vice President and Chief Financial Officer. “We will continue to evaluate the best uses for our cash to drive shareholder value.”

Conference Call Information

Stockholders and other persons are invited to listen to the third quarter earnings conference call scheduled for today, Wednesday, November 4, 2009, at 9:00 a.m. EST. To participate in Warnaco’s conference call, dial (877) 692-2592 approximately five to ten minutes prior to the 9:00 a.m. start time. The call will also be broadcast live over the Internet at www.warnaco.com. An online archive will be available following the call.

This press release was furnished to the SEC (www.sec.gov) and may also be accessed through the Company’s internet website: www.warnaco.com.

ABOUT WARNACO

The Warnaco Group, Inc., headquartered in New York, is a leading apparel company engaged in the business of designing, sourcing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men’s and women’s sportswear and accessories under such owned and licensed brands as Warner’s^®, Olga^®, and Speedo^®, as well as Chaps^® sportswear and denim, and Calvin Klein^® men’s and women’s underwear, men’s and women’s bridge apparel and accessories, men’s and women’s jeans and jeans accessories, junior women’s and children’s jeans and men’s and women’s swimwear.

FORWARD-LOOKING STATEMENTS

The Warnaco Group, Inc. notes that this press release, the conference call scheduled for November 4, 2009 and certain other written, electronic and oral disclosure made by the Company from time to time, may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties and reflect, when made, the Company’s estimates, objectives, projections, forecasts, plans, strategies, beliefs, intentions, opportunities and expectations. Actual results may differ materially from anticipated results, targets or expectations and investors are cautioned not to place undue reliance on any forward-looking statements. Statements other than statements of historical fact, including, without limitation, future financial targets, are forward-looking statements. These forward-looking statements may be identified by, among other things, the use of forward-looking language, such as the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,” “project,” “scheduled to,” “seek,” “should,” “will be,” “will continue,” “will likely result,” “targeted”, or the negative of those terms, or other similar words and phrases or by discussions of intentions or strategies.

The following factors, among others and in addition to those described in the Company’s reports filed with the SEC (including, without limitation, those described under the headings “Risk Factors” and “Statement Regarding Forward-Looking Disclosure,” as such disclosure may be modified or supplemented from time to time), could cause the Company’s actual results to differ materially from those expressed in any forward-looking statements made by it: the Company’s ability to execute its repositioning and sale initiatives (including achieving enhanced productivity and profitability) previously announced; economic conditions that affect the apparel industry, including the recent turmoil in the financial and credit markets; the Company’s failure to anticipate, identify or promptly react to changing trends, styles, or brand preferences; further declines in prices in the apparel industry; declining sales resulting from increased competition in the Company’s markets; increases in the prices of raw materials; events which result in difficulty in procuring or producing the

Company’s products on a cost-effective basis; the effect of laws and regulations, including those relating to labor, workplace and the environment; changing international trade regulation, including as it relates to the imposition or elimination of quotas on imports of textiles and apparel; the Company’s ability to protect its intellectual property or the costs incurred by the Company related thereto; the risk of product safety issues, defects or other production problems associated with our products; the Company’s dependence on a limited number of customers; the effects of consolidation in the retail sector; the Company’s dependence on license agreements with third parties; the Company’s dependence on the reputation of its brand names, including, in particular, Calvin Klein; the Company’s exposure to conditions in overseas markets in connection with the Company’s foreign operations and the sourcing of products from foreign third-party vendors; the Company’s foreign currency exposure; the Company’s history of insufficient disclosure controls and procedures and internal controls and restated financial statements; unanticipated future internal control deficiencies or weaknesses or ineffective disclosure controls and procedures; the effects of fluctuations in the value of investments of the Company’s pension plan; the sufficiency of cash to fund operations, including capital expenditures; the Company’s ability to service its indebtedness, the effect of changes in interest rates on the Company’s indebtedness that is subject to floating interest rates and the limitations imposed on the Company’s operating and financial flexibility by the agreements governing the Company’s indebtedness; the Company’s dependence on its senior management team and other key personnel; the Company’s reliance on information technology; the limitations on purchases under the Company’s share repurchase program contained in the Company’s debt instruments, the number of shares that the Company purchases under such program and the prices paid for such shares; the Company’s inability to achieve its financial targets and strategic objectives, as a result of one or more of the factors described above, changes in the assumptions underlying the targets or goals, or otherwise; the failure of acquired businesses to generate expected levels of revenues; the failure of the Company to successfully integrate such businesses with its existing businesses (and as a result, not achieving all or a substantial portion of the anticipated benefits of such acquisitions); and such acquired businesses being adversely affected, including by one or more of the factors described above and thereby failing to achieve anticipated revenues and earnings growth.

The Company encourages investors to read the section entitled “Risk Factors” and the discussion of the Company’s critical accounting policies under “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Discussion of Critical Accounting Policies” included in the Company’s Annual Report on Form 10-K, as such discussions may be modified or supplemented by subsequent reports that the Company files with the SEC. The discussion in this press release is not exhaustive but is designed to highlight important factors that may affect actual results. Forward-looking statements speak only as of the date on which they are made, and, except for the Company’s ongoing obligation under the U.S. federal securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Schedule 1

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Dollars in thousands, excluding per share amounts)
(Unaudited)


	As Reported			Restructuring						As Adjusted
	Three Months Ended			Charges and						Three Months Ended
	October 3, 2009			Pension (a)			Taxation (c)			October 3, 2009 (d)


Net revenues	$	520,905					$	—		$	520,905
Cost of goods sold (b)		292,083			(34	)					292,049

Gross profit		228,822			34			—			228,856
Selling, general and administrative expenses		165,720			(874	)					164,846
Amortization of intangible assets		2,278									2,278
Pension expense		566			(566	)					—

Operating income		60,258			1,474			—			61,732
Other expense (income)		761									761
Interest expense		5,899									5,899
Interest income		(196	)								(196	)

Income from continuing operations before provision for income taxes and noncontrolling interest		53,794			1,474			—			55,268
Provision for income taxes		21,246						(2,510	)		18,736

Income from continuing operations before noncontrolling interest		32,548			1,474			2,510			36,532
Loss from discontinued operations, net of taxes		(1,562	)								(1,562	)

Net Income		30,986			1,474			2,510			34,970
Less: Net income attributable to the noncontrolling interest		(1,330	)								(1,330	)

Net income attributable to Warnaco Group, Inc.	$	29,656		$	1,474		$	2,510		$	33,640


Amounts attributable to Warnaco Group Inc. common shareholders:
Income from continuing operations, net of tax		31,218			1,474			2,510			35,202
Discontinued operations, net of tax		(1,562	)		—			—			(1,562	)

Net income		29,656			1,474			2,510			33,640


Basic income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.68								$	0.76
Loss from discontinued operations		(0.04	)								(0.03	)

Net income	$	0.64								$	0.73


Diluted income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.66								$	0.75
Loss from discontinued operations		(0.03	)								(0.03	)

Net income	$	0.63								$	0.72


Weighted average number of shares outstanding used in computing income per common share:
Basic		45,451,366									45,451,366

Diluted		46,419,729									46,419,729


(a)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of restructuring charges of $908 or pension expense. See note (d) below.

(b)		Includes a charge of $3,556 recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by the Federation Internationale de Natation (“FINA”). FINA is the international organization responsible for, among other things, administering swimming competitions.

(c)		Adjustment to reflect the Company’s income from continuing operations at a normalized tax rate of 33.9% which reflects the Company’s estimated tax rate for Fiscal 2009 excluding the effects of restructuring charges, pension income, and certain other tax related items. See Note (d) below.

(d)		The “As Adjusted” statement of operations is used by management to evaluate the operating performance of the Company’s continuing operations on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitution for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its results to provide investors with an additional tool to evaluate the Company’s operating results.

Schedule 1a

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Dollars in thousands, excluding per share amounts)
(Unaudited)


	As Reported			Restructuring									As Adjusted
	Three Months Ended			Charges and			Other						Three Months Ended
	October 4, 2008			Pension (a)			Items (b)			Taxation (c)			October 4, 2008 (d)


Net revenues	$	547,626					$	—		$	—		$	547,626
Cost of goods sold		292,988			(281	)								292,707

Gross profit		254,638			281			—			—			254,919
Selling, general and administrative expenses		204,444			(4,137	)		(1,645	)					198,662
Amortization of intangible assets		2,409												2,409
Pension income		(203	)		203									—

Operating income		47,988			4,215			1,645			—			53,848
Other expense (income)		(1,196	)					(2,169	)					(3,365	)
Interest expense		6,853												6,853
Interest income		(909	)											(909	)

Income from continuing operations before provision for income taxes and noncontrolling interest		43,240			4,215			3,814			—			51,269
Provision for income taxes		13,465									2,941			16,406

Income from continuing operations before noncontrolling interest		29,775			4,215			3,814			(2,941	)		34,863
Loss from discontinued operations, net of taxes		(2,897	)											(2,897	)

Net Income		26,878			4,215			3,814			(2,941	)		31,966
Less: Net income attributable to the noncontrolling interest		(367	)											(367	)

Net income attributable to Warnaco Group, Inc.	$	26,511		$	4,215		$	3,814		$	(2,941	)	$	31,599


Amounts attributable to Warnaco Group Inc. common shareholders:
Income from continuing operations, net of tax		29,408			4,215			3,814			(2,941	)		34,496
Discontinued operations, net of tax		(2,897	)		—			—			—			(2,897	)

Net income		26,511			4,215			3,814			(2,941	)		31,599


Basic income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.63											$	0.74
Loss from discontinued operations		(0.06	)											(0.06	)

Net income	$	0.57											$	0.68	(e)


Diluted income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.62											$	0.72
Loss from discontinued operations		(0.06	)											(0.06	)

Net income	$	0.56											$	0.66	(e)


Weighted average number of shares outstanding used in computing income per common share:
Basic		45,875,657												45,875,657

Diluted		47,112,635												47,112,635


(a)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of restructuring charges of $4,418 or pension income. See note (d) below.

(b)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of charges related to the refinancing of its debt facilities, during the Three Months Ended October 4, 2008 and an additional depreciation charge of $1,645 recorded during the Three Months Ended October 4, 2008 which amount related to the correction of amounts recorded in prior periods. The amount was not material to any prior period. See note (d) below.

(c)		Adjustment to reflect the Company’s income from continuing operations at a normalized tax rate of 32% which reflects the Company’s estimated tax rate for fiscal 2008 excluding the effects of restructuring charges, pension income/expense, costs related to the refinancing of its debt, an additional depreciation charge of $1,645 recorded during the Three Months Ended October 4, 2008 (which amount related to the correction of amounts recorded in prior periods) and certain other tax related items. See note (d) below.

(d)		The “As Adjusted” statement of operations is used by management to evaluate the operating performance of the Company’s continuing operations on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitution for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its results to provide investors with an additional tool to evaluate the Company’s operating results.

(e)		Effective January 4, 2009, the Company adopted the provisions of FSP EITF 03-6-1, Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities (“FSP EITF 03-6-1”), which clarifies that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and are required to be included in the computation of both basic and diluted earnings per share. All prior period earnings per share data are required to be adjusted retrospectively to give effect to FSP EITF 03-6-1. Consequently earnings per share data for the Three Months Ended October 4, 2008 was adjusted accordingly. The effect of the adoption of FSP EITF 03-6-1 resulted in a $0.01 decrease in both basic and diluted net income per share, on an “As Adjusted” basis, compared to amounts previously reported.

Schedule 2

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Dollars in thousands, excluding per share amounts)
(Unaudited)


	As Reported			Restructuring						As Adjusted
	Nine Months Ended			Charges and						Nine Months Ended
	October 3, 2009			Pension (a)			Taxation (c)			October 3, 2009 (d)
Net revenues	$	1,514,180		$	—		$	—		$	1,514,180
Cost of goods sold (b)		871,074			(1,718	)					869,356

Gross profit		643,106			1,718			—			644,824
Selling, general and administrative expenses		469,325			(9,235	)					460,090
Amortization of intangible assets		6,556									6,556
Pension expense		1,697			(1,697	)					—

Operating income		165,528			12,650			—			178,178
Other expense (income)		3,156									3,156
Interest expense		17,767									17,767
Interest income		(1,020	)								(1,020	)

Income from continuing operations before provision for income taxes and noncontrolling interest		145,625			12,650			—			158,275
Provision for income taxes		54,677						(1,022	)		53,655

Income from continuing operations before noncontrolling interest		90,948			12,650			1,022			104,620
Loss from discontinued operations, net of taxes		(3,461	)								(3,461	)

Net Income		87,487			12,650			1,022			101,159
Less: Net income attributable to the noncontrolling interest		(2,500	)								(2,500	)

Net income attributable to Warnaco Group, Inc.	$	84,987		$	12,650		$	1,022		$	98,659


Amounts attributable to Warnaco Group Inc. common shareholders:
Income from continuing operations, net of tax		88,448			12,650			1,022			102,120
Discontinued operations, net of tax		(3,461	)		—			—			(3,461	)

Net income		84,987			12,650			1,022			98,659


Basic income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	1.93								$	2.22
Loss from discontinued operations		(0.08	)								(0.07	)

Net income	$	1.85								$	2.15


Diluted income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	1.90								$	2.19
Loss from discontinued operations		(0.07	)								(0.07	)

Net income	$	1.83								$	2.12

Weighted average number of shares outstanding used in computing income per common share:
Basic		45,388,159									45,388,159

Diluted		46,009,417									46,009,417


(a)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of restructuring charges of $10,953 or pension expense. See note (d) below.

(b)		Includes a charge of $3,556 recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA.

		FINA is the international organization responsible for, among other things, administering swimming competitions.

(c)		Adjustment to reflect the Company’s income from continuing operations at a normalized tax rate of 33.9% which reflects the Company’s estimated tax rate for Fiscal 2009 excluding the effects of restructuring charges, pension income, and certain other tax related items. See Note (d) below.

(d)		The “As Adjusted” statement of operations is used by management to evaluate the operating performance of the Company’s continuing operations on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitution for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its results to provide investors with an additional tool to evaluate the Company’s operating results.

Schedule 2a

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Dollars in thousands, excluding per share amounts)
(Unaudited)


	As Reported			Restructuring									As Adjusted
	Nine Months Ended			Charges and			Other						Nine Months Ended
	October 4, 2008			Pension (b)			Items (c)			Taxation (d)			October 4, 2008 (e)


Net revenues	$	1,617,571					$	—		$	—		$	1,617,571
Cost of goods sold		884,634			(1,120	)								883,514

Gross profit		732,937			1,120			—			—			734,057
Selling, general and administrative expenses		572,996			(29,615	)		(1,084	)					542,297
Amortization of intangible assets		7,383												7,383
Pension income		(785	)		785									—

Operating income		153,343			29,950			1,084			—			184,377
Other expense		3,062						(5,329	)					(2,267	)
Interest expense		23,329												23,329
Interest income		(2,513	)											(2,513	)

Income from continuing operations before provision for income taxes and noncontrolling interest		129,465			29,950			6,413			—			165,828
Provision for income taxes		65,347	(a)								(12,282	)		53,065

Income from continuing operations before noncontrolling interest		64,118			29,950			6,413			12,282			112,763
Income from discontinued operations, net of taxes		192												192

Net Income		64,310			29,950			6,413			12,282			112,955
Less: Net income attributable to the noncontrolling interest		(726	)											(726	)

Net income attributable to Warnaco Group, Inc.	$	63,584		$	29,950		$	6,413		$	12,282		$	112,229


Amounts attributable to Warnaco Group Inc. common shareholders:
Income from continuing operations, net of tax		63,392			29,950			6,413			12,282			112,037
Discontinued operations, net of tax		192			—			—			—			192

Net income		63,584			29,950			6,413			12,282			112,229


Basic income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	1.38											$	2.44
Income from discontinued operations		0.01												0.01

Net income	$	1.39											$	2.45	(f)


Diluted income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	1.34											$	2.37
Income from discontinued operations		—												—

Net income	$	1.34											$	2.37	(f)


Weighted average number of shares outstanding used in computing income per common share:
Basic		45,253,013												45,253,013

Diluted		46,759,628												46,759,628


(a)		Includes, among other items, a non-recurring tax charge of approximately $15,500 related to the repatriation (as a dividend distribution), to the United States, of the net proceeds received in connection with the sale of the Lejaby business.

(b)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of restructuring charges or pension income. See note (e) below.

(c)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of charges of $5,329 related to the repurchase of a portion of its debt during the Nine Months Ended October 4, 2008 and an additional depreciation charge of $1,084 recorded during the Nine Months ended October 4, 2008 which amount related to the correction of amounts recorded in prior periods. The amount was not material to any prior period. See note (e) below.

(d)		Adjustment to reflect the Company’s income from continuing operations at a normalized tax rate of 32% which reflects the Company’s estimated tax rate for fiscal 2008 excluding the effects of restructuring charges, pension income, costs related to the refinancing / repurchase of its debt facilities, an additional depreciation charge of $1,084 recorded during the Nine Months Ended October 4, 2008 (which amount related to the correction of amounts recorded in prior periods) and certain other tax related items (including a non-recurring tax charge of approximately $15,500 related to the repatriation, to the United States of the net proceeds received in connection with the sale of the Lejaby business). See note (f) below.

(e)		The “As Adjusted” statement of operations is used by management to evaluate the operating performance of the Company’s continuing operations on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitution for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its results to provide investors with an additional tool to evaluate the Company’s operating results.

(f)		Effective January 4, 2009, the Company adopted the provisions of FSP EITF 03-6-1, Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities (“FSP EITF 03-6-1”), which clarifies that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and are required to be included in the computation of both basic and diluted earnings per share. All prior period earnings per share data are required to be adjusted retrospectively to give effect to FSP EITF 03-6-1. Consequently earnings per share data for the Three Months Ended April 5, 2008 was adjusted accordingly. The effect of the adoption of FSP EITF 03-6-1 resulted in a $0.02 and $0.03 decrease in basic and diluted net income per share, respectively, on an “As Adjusted” basis, compared to amounts previously reported.

Schedule 3

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(Dollars in thousands)
(Unaudited)


	October 3, 2009		January 3, 2009			October 4, 2008
ASSETS
Current assets:
Cash and cash equivalents	$	229,330	$	147,627		$	122,904
Accounts receivable, net		326,431		251,886			326,560
Inventories		281,186		326,297			315,648
Assets of discontinued operations		2,762		6,279			7,537
Other current assets		156,698		156,777			166,487

Total current assets		996,407		888,866			939,136
Property, plant and equipment, net		119,436		109,563			108,773
Intangible and other assets		473,526		497,664			497,728

TOTAL ASSETS	$	1,589,369	$	1,496,093		$	1,545,637


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt	$	45,956	$	79,888		$	85,331
Accounts payable and accrued liabilities		317,123		314,922			304,421
Taxes		14,933		7,447			30,133
Liabilities of discontinued operations		12,111		12,055			13,809

Total current liabilities		390,123		414,312			433,694
Long-term debt		162,976		163,794			162,456
Other long-term liabilities		119,586		129,246			112,040
Total stockholders’ equity		916,684		788,741			837,447

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,589,369	$	1,496,093		$	1,545,637


NET CASH AND CASH EQUIVALENTS (NET DEBT)	$	20,398	$	(96,055	)	$	(124,883	)

Schedule 4

THE WARNACO GROUP, INC.
NET REVENUES AND OPERATING INCOME BY BUSINESS GROUP
(Dollars in thousands)
(Unaudited)


	Three Months Ended		Three Months Ended		Increase /			%			Constant $
	October 3, 2009		October 4, 2008		(Decrease)			Change			% Change (a)
Net revenues:
Sportswear Group	$	312,942	$	316,269	$	(3,327	)		-1.1	%		3.6	%
Intimate Apparel Group		177,773		199,724		(21,951	)		-11.0	%		-7.5	%
Swimwear Group		30,190		31,633		(1,443	)		-4.6	%		-2.9	%

Net revenues	$	520,905	$	547,626	$	(26,721	)		-4.9	%		-0.8	%


	Three Months Ended			% of Group			Three Months Ended			% of Group
	October 3, 2009			Net Revenues			October 4, 2008			Net Revenues
Operating income (loss):
Sportswear Group (b), (c)	$	48,534			15.5	%	$	40,042			12.7	%
Intimate Apparel Group (b), (c)		32,049			18.0	%		34,434			17.2	%
Swimwear Group (b), (c), (d)		(7,430	)		-24.6	%		(10,232	)		-32.3	%
Unallocated corporate expenses (c)		(12,895	)		na			(16,256	)		na

Operating income	$	60,258			na		$	47,988			na


Operating income as a percentage of total net revenues		11.6	%					8.8	%


(a)		Reflects the percentage increase (decrease) in net revenues for the Three Months Ended October 3, 2009 compared to the Three Months Ended October 4, 2008 where foreign based net revenues for the Three Months Ended October 3, 2009 are translated into U.S. dollars using the same foreign currency exchange rates that were used in the calculation of net revenues for the Three Months Ended October 4, 2008.

(b)		Includes an allocation of shared services expenses as follows:


	Three Months Ended		Three Months Ended
	October 3, 2009		October 4, 2008
Sportswear Group	$	5,067	$	5,474
Intimate Apparel Group	$	3,782	$	4,436
Swimwear Group	$	2,620	$	3,824


(c)		Includes restructuring charges as follows:


	Three Months Ended			Three Months Ended
	October 3, 2009			October 4, 2008
Sportswear Group	$	531		$	3,149
Intimate Apparel Group		488			204
Swimwear Group		(122	)		1,064
Unallocated corporate expenses		11			1

	$	908		$	4,418


(d)		Includes a charge of $3,556 recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA.

FINA is the international organization responsible for, among other things, administering swimming competitions.

Schedule 4a

THE WARNACO GROUP, INC.
NET REVENUES AND OPERATING INCOME BY BUSINESS GROUP
(Dollars in thousands)
(Unaudited)


	Nine Months Ended		Nine Months Ended		Increase /			%			Constant $
	October 3, 2009 (a)		October 4, 2008 (a)		(Decrease)			Change			% Change (b)
Net revenues:
Sportswear Group	$	815,552	$	864,766	$	(49,214	)		-5.7	%		2.3	%
Intimate Apparel Group		498,263		538,968		(40,705	)		-7.6	%		-0.7	%
Swimwear Group		200,365		213,837		(13,472	)		-6.3	%		-3.7	%

Net revenues	$	1,514,180	$	1,617,571	$	(103,391	)		-6.4	%		0.5	%


	Nine Months Ended			% of Group			Nine Months Ended			% of Group
	October 3, 2009 (a)			Net Revenues			October 4, 2008 (a)			Net Revenues
Operating income (loss):
Sportswear Group (c), (d)	$	100,874			12.4	%	$	85,868			9.9	%
Intimate Apparel Group (c), (d)		88,472			17.8	%		98,518			18.3	%
Swimwear Group (c), (d), (e)		13,297			6.6	%		12,244			5.7	%
Unallocated corporate expenses (d)		(37,115	)	na				(43,287	)	na

Operating income	$	165,528		na			$	153,343		na


Operating income as a percentage of total net revenues		10.9	%					9.5	%


(a)		The Nine Months Ended October 3, 2009 contained 39 weeks of operations while the Nine Months Ended October 4, 2008 contained 40 weeks of operations.

(b)		Reflects the percentage increase (decrease) in net revenues for the Nine Months Ended October 3, 2009 compared to the Nine Months Ended October 4, 2008 where foreign based net revenues for the Nine Months Ended October 3, 2009 are translated into U.S. dollars using the same foreign currency exchange rates that were used in the calculation of net revenues for the Nine Months Ended October 4, 2008.

(c)		Includes an allocation of shared services expenses as follows:


	Nine Months Ended		Nine Months Ended
	October 3, 2009		October 4, 2008
Sportswear Group	$	15,175	$	16,384
Intimate Apparel Group	$	11,330	$	13,297
Swimwear Group	$	7,884	$	11,472


(d)		Includes restructuring charges as follows:


	Nine Months Ended		Nine Months Ended
	October 3, 2009		October 4, 2008
Sportswear Group	$	3,917	$	26,246
Intimate Apparel Group		3,400		898
Swimwear Group		2,311		2,179
Unallocated corporate expenses		1,325		1,412

	$	10,953	$	30,735


(e)		Includes a charge of $3,556 recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA.

FINA is the international organization responsible for, among other things, administering swimming competitions.

Schedule 5

THE WARNACO GROUP, INC.
NET REVENUES AND OPERATING INCOME BY REGION
(Dollars in thousands)
(Unaudited)


	Net Revenues
	Three Months Ended		Three Months Ended		Increase /						Constant $ % Change
	October 3, 2009		October 4, 2008		(Decrease)			% Change			(a)
By Region:
United States	$	210,146	$	233,938	$	(23,792	)		-10.2	%		-10.2	%
Europe		166,584		166,412		172			0.1	%		5.8	%
Asia		85,994		88,735		(2,741	)		-3.1	%		3.1	%
Canada		25,796		27,765		(1,969	)		-7.1	%		-3.1	%
Mexico, Central and South America		32,385		30,776		1,609			5.2	%		25.1	%

Total	$	520,905	$	547,626	$	(26,721	)		-4.9	%		-0.8	%


	Operating Income
	Three Months Ended			Three Months Ended			Increase /
	October 3, 2009 (b)			October 4, 2008 (b)			(Decrease)			% Change
United States (c)	$	27,007		$	23,145		$	3,862			16.7	%
Europe		20,866			20,447			419			2.0	%
Asia		15,148			9,452			5,696			60.3	%
Canada (c)		5,045			6,980			(1,935	)		-27.7	%
Mexico, Central and South America (c)		5,087			4,220			867			20.5	%
Unallocated corporate expenses		(12,895	)		(16,256	)		3,361			-20.7	%

Total	$	60,258		$	47,988		$	12,270			25.6	%


(a)		Reflects the percentage increase (decrease) in net revenues for the Three Months Ended October 3, 2009 compared to the Three Months Ended October 4, 2008 where foreign based net revenues for the Three Months Ended October 3, 2009 are translated into U.S. dollars using the same foreign currency exchange rates that were used in the calculation of net revenues for the Three Months Ended October 4, 2008.

(b)		Includes restructuring charges as follows:


	Three Months			Three Months
	Ended October 3,			Ended October 4,
	2009			2008
United States	$	(150	)	$	1,241
Europe		524			3,175
Asia		118			1
Canada		319			—
Mexico, Central and South America		—			—
Unallocated corporate expenses		97			1

Total	$	908		$	4,418


(c)		Includes a charge of $3,556 ($3,170 in the United States, $336 in Canada and $50 in Mexico) recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA.

FINA is the international organization responsible for, among other things, administering swimming competitions.

Schedule 5a

THE WARNACO GROUP, INC.
NET REVENUES AND OPERATING INCOME BY REGION
(Dollars in thousands)
(Unaudited)

By Region:


	Net Revenues
	Nine Months		Nine Months
	Ended October		Ended October		Increase /						Constant $ %
	3, 2009 (a)		4, 2008 (a)		(Decrease)			% Change			Change (b)
United States	$	712,210	$	745,436	$	(33,226	)		-4.5	%		-4.5	%
Europe		407,573		458,368		(50,795	)		-11.1	%		-0.5	%
Asia		238,387		246,091		(7,704	)		-3.1	%		9.9	%
Canada		75,719		85,514		(9,795	)		-11.5	%		0.8	%
Mexico, Central and South America		80,291		82,162		(1,871	)		-2.3	%		23.5	%

Total	$	1,514,180	$	1,617,571	$	(103,391	)		-6.4	%		0.5	%


	Operating Income
	Nine Months			Nine Months
	Ended October			Ended October			Increase /			%
	3, 2009 (a), ( c)			4, 2008 (a), ( c)			(Decrease)			Change
United States (d)	$	103,824		$	84,967		$	18,857			22.2	%
Europe		40,811			43,813			(3,002	)		-6.9	%
Asia		34,930			36,465			(1,535	)		-4.2	%
Canada (d)		11,911			20,998			(9,087	)		-43.3	%
Mexico, Central and South America (d)		11,167			10,387			780			7.5	%
Unallocated corporate expenses		(37,115	)		(43,287	)		6,172			-14.3	%

Total	$	165,528		$	153,343		$	12,185			7.9	%


(a)		The Nine Months Ended October 3, 2009 contained 39 weeks of operations while the Nine Months Ended October 4, 2008 contained 40 weeks of operations.

(b)		Reflects the percentage increase (decrease) in net revenues for the Nine Months Ended October 3, 2009 compared to the Nine Months Ended October 4, 2008 where foreign based net revenues for the Nine Months Ended October 3, 2009 are translated into U.S. dollars using the same foreign currency exchange rates that were used in the calculation of net revenues for the Nine Months Ended October 4, 2008.

(c)		Includes restructuring charges as follows:


	Nine Months		Nine Months
	Ended October 3,		Ended October 4,
	2009		2008
United States	$	4,710	$	2,539
Europe		4,106		26,732
Asia		127		52
Canada		571		—
Mexico, Central and South America		30		—
Unallocated corporate expenses		1,409		1,412

Total	$	10,953	$	30,735


(d)		Includes a charge of $3,556 ($3,170 in the United States, $336 in Canada and $50 in Mexico) recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA. FINA is the international organization responsible for, among other things, administering swimming competitions.

Schedule 6

THE WARNACO GROUP, INC.
NET REVENUES AND OPERATING INCOME BY CHANNEL
(Dollars in thousands)
(Unaudited)

By Channel:


	Net Revenues
	Three Months		Three Months
	Ended October		Ended October		Increase /			%
	3, 2009		4, 2008		(Decrease)			Change
Wholesale	$	402,217	$	439,645	$	(37,428	)		-8.5	%
Retail		118,688		107,981		10,707			9.9	%

Total	$	520,905	$	547,626	$	(26,721	)		-4.9	%


	Operating Income
	Three Months			Three Months
	Ended October			Ended October			Increase /		%
	3, 2009 (a)			4, 2008 (a)			(Decrease)		Change
Wholesale (b)	$	61,499		$	57,284		$	4,215		7.4	%
Retail (b)		11,654			6,960			4,694		67.4	%
Unallocated corporate expenses		(12,895	)		(16,256	)		3,361		-20.7	%

Total	$	60,258		$	47,988		$	12,270		25.6	%


(a)		Includes restructuring charges as follows:


	Three Months			Three Months
	Ended October			Ended October
	3, 2009			4, 2008
Wholesale	$	890		$	4,359
Retail		(79	)		58
Unallocated corporate expenses		97			1

Total	$	908		$	4,418


(b)		Includes a charge of $3,556 ($3,456 in Wholesale and $100 in Retail) recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA. FINA is the international organization responsible for, among other things, administering swimming competitions.

Schedule 6a

THE WARNACO GROUP, INC.
NET REVENUES AND OPERATING INCOME BY CHANNEL
(Dollars in thousands)
(Unaudited)

By Channel:


	Net Revenues
	Nine Months		Nine Months
	Ended October		Ended October		Increase /			%
	3, 2009 (a)		4, 2008 (a)		(Decrease)			Change
Wholesale	$	1,196,156	$	1,298,395	$	(102,239	)		-7.9	%
Retail		318,024		319,176		(1,152	)		-0.4	%

Total	$	1,514,180	$	1,617,571	$	(103,391	)		-6.4	%


	Operating Income
	Nine Months			Nine Months
	Ended October			Ended October			Increase /			%
	3, 2009 (a), ( b)			4, 2008 (a), ( b)			(Decrease)			Change
Wholesale (c)	$	173,623		$	159,986		$	13,637			8.5	%
Retail (c)		29,020			36,644			(7,624	)		-20.8	%
Unallocated corporate expenses		(37,115	)		(43,287	)		6,172			-14.3	%

Total	$	165,528		$	153,343		$	12,185			7.9	%


(a)		The Nine Months Ended October 3, 2009 contained 39 weeks of operations while the Nine Months Ended October 4, 2008 contained 40 weeks of operations.

(b)		Includes restructuring charges as follows:


	Nine Months		Nine Months
	Ended October		Ended October
	3, 2009		4, 2008
Wholesale	$	9,185	$	28,929
Retail		359		394
Unallocated corporate expenses		1,409		1,412

Total	$	10,953	$	30,735


(c)		Includes a charge of $3,556 ($3,456 in Wholesale and $100 in Retail) recorded during the Three Months Ended October 3, 2009 related to the write-down of inventory associated with the Company’s LZR Racer and similar swimsuits which were banned by FINA. FINA is the international organization responsible for, among other things, administering swimming competitions.

Schedule 7

THE WARNACO GROUP, INC.
SUPPLEMENTAL SCHEDULE — FISCAL 2009 OUTLOOK
(Dollars in thousands, excluding per share amounts)
(Unaudited)

Percentages

(Unaudited)

NET REVENUE GUIDANCE

Estimated decline in net revenues in Fiscal 2009 compared to comparable Fiscal 2008 levels.

3.00

5.00

%(c)


	U.S. Dollars
	(Unaudited)
EARNINGS PER SHARE GUIDANCE
Diluted Income per common share from continuing operations
GAAP basis (assuming minimal pension expense / income)	$	2.45	to	$	2.51	(d)
Restructuring charges (a)		0.15	to		0.18
Tax items		0.10	to		0.11

As adjusted (Non-GAAP basis) (b)	$	2.70	to	$	2.80	(e)


(a)		Reflects between $7,000 to $8,000 of expected restructuring charges (net of an income tax benefit of between $3,000 and $4,000) for Fiscal 2009.

(b)		The Company believes it is useful for users of the Company’s financial statements to be made aware of the “As Adjusted” net revenue growth and per share amounts related to the Company’s income from continuing operations as such measures are used by management to evaluate the operating performance of the Company’s continuing businesses on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its projected results to provide investors with an additional tool to evaluate the Company’s operating results.

(c)		Previous guidance was 7% to 9%

(d)		Previous guidance was $2.31 to $2.42

(e)		Previous guidance was $2.60 to $2.75

Schedule 8

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Dollars in thousands, excluding per share amounts)
(Unaudited)


	As Reported			Restructuring						As Adjusted
	Three Months Ended			Charges and						Three Months Ended
	April 4, 2009			Pension (a)			Taxation (b)			April 4, 2009 (c)


Net revenues	$	537,844					$	—		$	537,844
Cost of goods sold		312,559			(1,483	)					311,076

Gross profit		225,285			1,483			—			226,768
Selling, general and administrative expenses		158,347			(7,087	)					151,260
Amortization of intangible assets		2,127									2,127
Pension expense		537			(537	)					—

Operating income		64,274			9,107			—			73,381
Other expense (income)		(404	)								(404	)
Interest expense		6,069									6,069
Interest income		(408	)								(408	)

Income from continuing operations before provision for income taxes and noncontrolling interest		59,017			9,107			—			68,124
Provision for income taxes		20,167						2,927			23,094

Income from continuing operations before noncontrolling interest		38,850			9,107			(2,927	)		45,030
Loss from discontinued operations, net of taxes		(1,020	)								(1,020	)

Net Income		37,830			9,107			(2,927	)		44,010
Less: Net income attributable to the noncontrolling interest		(258	)								(258	)

Net income attributable to Warnaco Group, Inc.	$	37,572		$	9,107		$	(2,927	)	$	43,752


Amounts attributable to Warnaco Group Inc. common shareholders:
Income from continuing operations, net of tax		38,592			9,107			(2,927	)		44,772
Discontinued operations, net of tax		(1,020	)		—			—			(1,020	)

Net income		37,572			9,107			(2,927	)		43,752


Basic income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.84								$	0.98
Loss from discontinued operations		(0.02	)								(0.02	)

Net income	$	0.82								$	0.96


Diluted income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.83								$	0.97
Loss from discontinued operations		(0.02	)								(0.02	)

Net income	$	0.81								$	0.95


Weighted average number of shares outstanding used in computing income per common share:
Basic		45,304,591									45,304,591

Diluted		45,651,170									45,651,170


(a)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of restructuring charges or pension expense. See note (c) below.

(b)		Adjustment to reflect the Company’s income from continuing operations at a normalized tax rate of 33.9% which reflects the Company’s estimated tax rate for Fiscal 2009 excluding the effects of restructuring charges and pension income. See note (c) below.

(c)		The “As Adjusted” statement of operations is used by management to evaluate the operating performance of the Company’s continuing operations on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitution for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its results to provide investors with an additional tool to evaluate the Company’s operating results.

Schedule 9

THE WARNACO GROUP, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Dollars in thousands, excluding per share amounts)
(Unaudited)


	As Reported			Restructuring						As Adjusted
	Three Months Ended			Charges and						Three Months Ended
	July 4, 2009			Pension (a)			Taxation (b)			July 4, 2009 (c)


Net revenues	$	455,432					$	—		$	455,432
Cost of goods sold		266,432			(201	)					266,231

Gross profit		189,000			201			—			189,201
Selling, general and administrative expenses		145,165			(1,274	)					143,891
Amortization of intangible assets		2,242									2,242
Pension expense		594			(594	)					—

Operating income		40,999			2,069			—			43,068
Other expense (income)		2,799									2,799
Interest expense		5,799									5,799
Interest income		(416	)								(416	)

Income from continuing operations before provision for income taxes and noncontrolling interest		32,817			2,069			—			34,886
Provision for income taxes		13,264						(1,438	)		11,826

Income from continuing operations before noncontrolling interest		19,553			2,069			1,438			23,060
Loss from discontinued operations, net of taxes		(882	)								(882	)

Net Income		18,671			2,069			1,438			22,178
Less: Net income attributable to the noncontrolling interest		(912	)								(912	)

Net income attributable to Warnaco Group, Inc.	$	17,759		$	2,069		$	1,438		$	21,266


Amounts attributable to Warnaco Group Inc. common shareholders:
Income from continuing operations, net of tax		18,641			2,069			1,438			22,148
Discontinued operations, net of tax		(882	)		—			—			(882	)

Net income		17,759			2,069			1,438			21,266


Basic income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.41								$	0.48
Loss from discontinued operations		(0.02	)								(0.02	)

Net income	$	0.39								$	0.46


Diluted income per common share attributable to Warnaco Group, Inc. common shareholders:
Income from continuing operations	$	0.40								$	0.48
Loss from discontinued operations		(0.02	)								(0.02	)

Net income	$	0.38								$	0.46


Weighted average number of shares outstanding used in computing income per common share:
Basic		45,412,175									45,412,175

Diluted		46,010,870									46,010,870


(a)		This adjustment seeks to present the Company’s consolidated condensed statement of operations on a continuing basis without the effects of restructuring charges or pension expense. See note (c) below.

(b)		Adjustment to reflect the Company’s income from continuing operations at a normalized tax rate of 33.9% which reflects the Company’s estimated tax rate for Fiscal 2009 excluding the effects of restructuring charges and pension income. See note (c) below.

(c)		The “As Adjusted” statement of operations is used by management to evaluate the operating performance of the Company’s continuing operations on a comparable basis. Management does not, nor should investors, consider such non-GAAP financial measures in isolation from, or as a substitution for, financial information prepared in accordance with GAAP. The Company presents such non-GAAP financial measures in reporting its results to provide investors with an additional tool to evaluate the Company’s operating results.


Delaware	001-10857	95-4032739

(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


501 Seventh Avenue, New York, New York		10018

(Address of principal executive offices)		(Zip Code)


	THE WARNACO GROUP, INC.
Date: November 4, 2009	By:	/s/ Lawrence R. Rutkowski
		Name:	Lawrence R. Rutkowski
		Title:	Executive Vice President and Chief Financial Officer


Exhibit No.		Document

99.1		Press Release, dated November 4, 2009