By  on January 6, 2011

Shares of Liz Claiborne Inc. dropped more than 18 percent in after-hours trading Thursday after the firm cut fourth-quarter estimates following a weak December marked by declines in comparable-store sales.

The apparel firm now expects adjusted operating losses for the fourth quarter to fall between $5 million and $15 million, from a $15 million deficit in the 2009 quarter. That will translate into an improvement in second-half operating income of between $40 million and $50 million, versus prior guidance for an $80 million improvement.

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