January 9, 2011

Liz Claiborne cuts H2 operating income growth forecast

Jan 6 - Liz Claiborne Inc cut its adjusted operating income growth forecast for the second half of 2010 as lower traffic and an aggressive promotional environment hurt its December sales.

Juicy Couture: one of the brands owned by Liz Claiborne Inc

Shares of the clothing maker fell nearly 20 percent to $5.54 in extended trade, after closing at $6.90 on Thursday on the New York Stock Exchange.

Bad weather hurt traffic, especially in Europe and some of the merchandises did not resonate well with shoppers, the company said.

Comparable sales and gross profit in December at Juicy Couture, Lucky Brand and Mexx Europe were "clearly disappointing," Chief Executive William McComb said in a statement.

The company said it now sees adjusted operating income to grow $40-$50 million in the second half of 2010, compared with its prior view of a growth of $80 million.

(Reporting by Renju Jose in Bangalore; Editing by Unnikrishnan Nair)

archives Liz Claiborne

4/26/12
Liz Claiborne revenues fall as Juicy Couture struggles
...Liz Claiborne Inc reported lower quarterly revenue as its largest brand, Juicy Couture, continued to struggle.
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4/12/12
Maidenform opens up to French retail network for Spring-Summer 2013
...(formerly of Liz Claiborne-Mexx) – last January, its European development is taking shape. Already well-established in Great Britain, Scandinavia, Benelux and Spain thanks not only to its own brand but also its...
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4/3/12
Liz Claiborne shares up on report of buyout talks
...Liz Claiborne Inc shares rose as much as 21 percent on Friday after the Wall Street Journal reported that the clothier and retailer had held buyout talks with private equity.
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3/29/12
Jack Spade opens in London
...(formerly Liz Claiborne) is to open its first European store in the British capital this Friday.
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3/19/12
JC Penney begins overhaul
...such as Liz Claiborne, Martha Stewart and L'Amour Nanette Lepore. She will work with Bill Gentner, also senior vice president of strategic brands, but in charge of brands such as The Original Arizona Jean...
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3/18/12
Liz Claiborne taps Hilfiger exec to be CFO, COO
...Liz Claiborne Inc tapped a former Tommy Hilfiger executive as its new finance and operations chief starting next month, saying his combined experience in both fields is important as the clothesmaker and retailer...
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1/22/12
Analysis: New pricing strategy could be Penney wise, but risky
...Stewart, Liz Claiborne and St. John's Bay are unlikely to create major new excitement or draw many new shoppers, and that Penney needs to build on the success of exclusives like its in-store Sephora cosmetics...
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1/10/12
Liz Claiborne cuts outlook, shares drop 12 percent
...Liz Claiborne Inc, which recently announced a name change, cut its outlook for the year as the company expects to push more of its cost cuts to 2013, sending its shares down 12 percent after the bell.
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12/8/11
Penney adds Martha Stewart brand in shot at Macy's
...away the Liz Claiborne brand from Macy's to become the exclusive department store to carry the label.Penney bought 11 million newly issued shares of Martha Stewart Living for $3.50 per share, or a 12 percent...
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11/15/11
Elizabeth Arden profit helped by cost cuts
...brands from Liz Claiborne Inc (LIZ.N) and lower the effective royalty rate it pays to make other fragrance brands under the Juicy Couture and Lucky Brand names. The company made a $58.4 million payment to Liz...
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11/15/11
Penney sees tepid holiday, to lay out turnaround
...buy the Liz Claiborne brand outright. It has said the Claiborne brand is selling well. Penney continued to build out new locations within its stores for Sephora's cosmetics boutiques and MNG by Mango's...
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11/10/11
Liz Claiborne's lean look yields surprise profit
...Liz Claiborne Inc's new streamlined model helped the company post an adjusted quarterly profit, as the owner of the Juicy Couture, kate spade and Lucky Brands revamps itself to cut debt and focus on its core...
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11/7/11
Liz Claiborne completes sale of its eponymous brand
...of its Liz Claiborne and Monet brands to JC Penney.
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11/1/11
Penney bets on finer offerings for holiday season
...exclusive Liz Claiborne brand and offer fancier watches made of rose gold. Other new additions include national toy brands such as Mattel Inc's Barbie dolls for the first time in 20 years. Analysts expect...
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10/12/11
Claiborne sheds namesake brand, cuts down debt
...Liz Claiborne Inc plans to sell off more of its major brands, including its namesake line and slash its debt by nearly two-thirds to focus on three key brands.
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9/3/11
Liz Claiborne finds new owner for global Mexx business
...Liz Claiborne Inc said it would sell its money losing international Mexx business to a joint venture with Gores Group LLC, allowing the women's clothing maker to cut down on debt and focus on its core brands.
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8/22/11
Foreign brands widen London super-prime retail map
...such as Liz Claiborne Inc.'s Kate Spade, Limited Brands Inc's Victoria's Secret, Polo Ralph Lauren Corp.'s Rugby have taken stores in the last 12 months. European companies looking for store...
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8/12/11
Penney issues weak forecast
...such as Liz Claiborne (LIZ.N) clothing and stores-within-its-stores for cosmetics seller Sephora and Spain's fast-fashion chain Mango. Macy's and Kohl's credited their exclusive lines for their...
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8/11/11
Claiborne sells perfume names to Arden to lower debt
...Liz Claiborne Inc said on Thursday it would sell the trademarks of some of its perfumes, including Curve, to Elizabeth Arden Inc in part to lower the size of its debt.
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8/11/11
Elizabeth Arden profit helped by cost cuts
...brands from Liz Claiborne Inc and lower the effective royalty rate it pays to make other fragrance brands under the Juicy Couture and Lucky Brand names. The change in the licensing agreement with Liz Claiborne...
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