04 Mar. 2009

LOSSES MOUNT FOR LIZ CLAIBORNE

Liz Claiborne’s net sales for Q4 were approximately $911 million, a decrease of $261 million, or 22.2%, from the same period last year. Overall, net sales for 2008 were $3.985 billion, a decrease of $457 million, or 10.3% from the 2007 full year, due primarily to decreases in its partnered brands segment, offset by increases to its domestic-based direct brands segment. In that segment, Juicy Couture recorded net sales of $605 million, a 22.4% increase over the last year, while Lucky took in $477 million, a 13.1% increase. Kate Spade achieved net sales of $126 million, a 39.3% increase. All figures exclude the impact of licensing its fragrance operations in the second quarter of 2008. Net sales for the Company’s international-based direct brands segment, that is, Mexx, were $1.203 billion, a 3.9% decrease compared to 2007. Net loss in the full 2008 year was $952 million, inclusive of losses related to discontinued operations of $138 million. The previous year’s net loss was $373 million.

—TY

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