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Reuters
Published
Apr 26, 2012
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Liz Claiborne revenues fall as Juicy Couture struggles

By
Reuters
Published
Apr 26, 2012

Liz Claiborne Inc reported lower quarterly revenue as its largest brand, Juicy Couture, continued to struggle.


Juicy Couture spring-summer 2012 / Photo: Juicy Couture


Total sales from continuing operations fell 4.1 percent to $317.1 million during the quarter that ended on March 31, but above Wall Street estimates of $307.3 million. Comparable sales at Juicy fell in each month of the quarter.

The company on Thursday reported a first-quarter net loss of $60.6 million, or 60 cents a share, compared with a year-earlier loss of $96.3 million, or $1.02 a share.

Including only continuing operations, Claiborne had a loss of 22 cents per share, narrower than 32 cents a year earlier.

In the last few years, Liz Claiborne has sold off many brands, including its namesake, to lessen its debt load and to focus on the units in which it sees the most potential, making Juicy's performance crucial.

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