News
« Fendi To Foray Into New Categories, Markets | | Jones Profits From Better Market, Barneys »
May 02, 2007
Claiborne's Earnings Drop On Wholesale Slowdown
Liz Claiborne Inc.’s first quarter earnings dropped nearly 66 percent to $16 million due to weak wholesale demand for its women’s sportswear, the retailer said this week.
Sales of wholesale apparel dipped 7.4 percent, due to the dwindling market for bridge lines such as Ellen Tracy and Sigrid Olsen and retailers’ increased use of private label brands, the company said.
The good news was that retail sales were up 15.6 percent thanks to the addition of new locations.
Posted by Blacks on May 2, 2007 09:41 AM
