Liz Claiborne Inc. shored up its finances with an amended bank facility and narrowed first-quarter losses, but a weaker-than-expected outlook and general market turmoil helped push the stock down 15.2 percent.
Claiborne reduced its revolving credit facility to $350 million from $600 million, but the expiration date was pushed out to August 2014 from May 2011 and the springing fixed-charge coverage covenant was eliminated, leaving chief executive officer William L. McComb additional room to operate.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)