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April 29, 2006
Liz's Profits Plunge On Slower Sales
Liz Claiborne Inc.’s profits plunged 34.3 percent in the first quarter of this year on sales that slipped 3.4 percent.
The U.S. apparel company pinned the performance on fewer departments store orders and costs related to its own restructuring program.
Liz, which licenses brands Juicy Couture and Ellen Tracy among others, reported revenue of $1.17 billion for the quarter, compared to $1.21 for the year-ago period. Looking ahead, the company expects revenue to be flat or slightly up in the second quarter.
Posted by Blacks on April 29, 2006 11:58 AM
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