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October 31, 2007
Liz Claiborne's Q3 Earnings Plunge 65 Percent
Third quarter earnings at Liz Claiborne Inc. plunged 65% to $33.1 million as buyers backed away from its partnered brands. The company is in the middle of a restructuring to rid itself of moderate brands such as Ellen Tracy and Dana Buchman in order to focus on key lines.
A look at the numbers indicates that this is a good idea. Sales of the company’s direct brands increased 18% in the quarter to $629 million. These brands include Juicy Couture, Lucky Brand Jeans, Kate Spade and Mexx.
Posted by Blacks on October 31, 2007 09:40 AM
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