Suddenly, Liz Claiborne Inc. doesn’t want to be red…as in, in the red. According to WWD, losses have continued for Liz Claiborne Inc. in the first quarter, driven by
continued poor performance in the partnered brands segment as well as
restructuring costs. For
the three months ended April 5, Claiborne lost $31 million
for the quarter increased about 5% to $1.12 billion from $1.07
billion, saved by strong growth in all four direct brands, which made
up more than half of the company’s sales for the quarter. Juicy
Couture’s revenues increased 58% to $140 million, and Lucky
Brand sales rose 21% to $110 million. Kate Spade sales climbed
44% to $28 million. Helped by the strength of the euro, Mexx
sales grew 20% to $342 million.
According to the NYPost, the struggling apparel brand is hoping the addition of celebrity designer Isaac Mizrahi will revamp the aging line.
Read "Liz in Red, Wal-Mart Profits Rise" here
Sources: WWD, NYPostSee the Top Ten Summer 2016 Trends for Women Over 40