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Liz Claiborne 1Q Sales -21.5%

(Filed Under Financial and General Interest News). Sales remained weak for Liz Claiborne, Inc. during the first quarter of 2010. The company cited a 21.5 percent drop in net sales, which totaled $608 million. In the Domestic-Based Direct Brands segment, which includes Kate Spade, Juicy Couture and Lucky brand retail-based operations, sales were $243 million, a 6.4 percent drop.

By segment, Juicy Couture sales decreased 12 percent, primarily driven by drops in wholesale apparel and non-apparel and partially offset by an increase in outlet. Lucky Brand sales decreased 5.5 percent. Kate Spade sales, however, increased 15.1 percent, driven by increases in specialty retail and outlet.

The International-Based Direct Brands segment—consisting of operations of mexx, the company’s international retail-based operating segment—dropped 13.1 percent. Sales in the Partnered Brands segment were down 40 percent, which Liz Claiborne attributed primarily to a decrease in its family of brands resulting from the transition to the licensing models under the JCPenney and QVC arrangements, which the company announced last fall.

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Published 05-06-2010 by -

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