FINANCE

Liz Claiborne swings to Q4 profit on sale of brands, but revenue down

BY Marianne Wilson

New York City — Liz Claiborne Inc. swung to a fourth-quarter profit, buoyed by gains from sales of certain brands and trademarks, including the sale of its namesake brand to J.C. Penney. But the company’s total revenue came in well below expectations, hurt by the faltering performance of its Juicy Couture division.

Liz Claiborne, which is being renamed Fifth & Pacific Cos. as it focuses on its Juicy Couture, Kate Spade and Lucky Brand brands, earned $229.2 million in the quarter ended Dec. 31, compared with a loss of $30.1 million in the same period last year.

Revenue decreased 2.6% to $447.06 million from last year’s $458.8 million, with a 15.4% decrease in sales at Juicy Couture. Lucky Brand’s sales rose 23.2% and Kate Spade’s sales were up 73.4%.

The company said it is seeing improving sales of Juicy Couture for the spring season.

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T.John says:
Mar-28-2012 03:59 pm

Are these retailers directly
Are these retailers directly tied to chains like Target? Like how could Target be a strong buy and the retailers it sells not be? Still a good market to turn and sell for a profit http://www.dmnews.com/golden-gate-buys-norm-thompson/article/90590/

T.John says:
Mar-28-2012 03:59 pm

Are these retailers directly tied to chains like Target? Like how could Target be a strong buy and the retailers it sells not be? Still a good market to turn and sell for a profit http://www.dmnews.com/golden-gate-buys-norm-thompson/article/90590/

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REAL ESTATE

Gordman’s expanding into Utah

BY Marianne Wilson

New York City — Gordman’s will open its first stores in Utah, in March, according to The Salt Lake Tribune.

The value-priced department store operator will open a store in Farmington’s Station Park shopping center on March 23, and also one in The District shopping center in South Jordan, the report said. A third store is set to open, in Riverdale, in July.

“The Salt Lake MSA [metropolitan statistical area between Ogden and Provo] we see as a significant opportunity for us,” CEO Jeff Gordman said, in the report.

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REAL ESTATE

Casual Male DestinationXL format to make Middle East debut

BY Marianne Wilson

Canton, Mass. — Casual Male Retail Group announced that its first DestinationXL store in the Middle East will open this spring in Symphony Mall, Kuwait City, Kuwait, under a franchise agreement between one of its subsidiaries and The Standard Arabian Business & Enterprises Company (SABECO).

The franchise agreement governs the operation of the store and provides that within two years of the store’s opening to the public, the Casual Male Retail Group subsidiary has an option to purchase an equity interest in the store. The store is expected to open in April.

David Levin, president and CEO, stated, "We are looking forward to the store’s opening and we are excited about the prospects for the region. We believe that SABECO has the expertise to create a successful franchise and operate an outstanding DestinationXL store in the Middle East."

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