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current news

Claiborne 4q Sales -14.5%

(Filed Under Financial and General Interest News). For the fourth quarter of 2009, Liz Claiborne Inc. cited net sales of $779 million, a 14.5 percent drop from net sales in the comparable 2008 period, which the company attributed primarily to decreases in its International-Based Direct Brands and Partnered Brands segments. Net sales for International-Based Direct Brands dropped 11.7 percent, driven by decreases in Mexx Europe wholesale, while Partnered Brands fell 29.1 percent.

In the Domestic-Based Direct Brands segment, consisting of retail, outlet, wholesale apparel, wholesale non-apparel, e-commerce and licensing operations for the Juicy Couture, Kate Spade and Lucky Brand operating segments, net sales dropped 3 percent, to $340 million. Juicy Couture and Lucky Brand experienced respective net sales drops of 5 and 4.4 percent, while Kate Spade’s sales increased 10 percent. Comparable store sales decreased 3 percent for Juicy Couture and 10 percent for Lucky Brand, while Kate Spade’s comparable store sales increased 5 percent.

For the full year of fiscal 2009, net sales decreased 24.4 percent, to approximately $3.012 billion.

more Financial and General Interest News >>

Published 02-23-2010 by Amanda Torres Price

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