×
1 313
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Boots, Fosse Park- 7.5 Hours - Part Time, Permanent
Permanent · Leicester
MICHAEL KORS
Sales Supervisor, Multrees Walk
Permanent · EDINBURGH
VASHI
Talent Acquisition Partner
Permanent · LONDON
LEVI'S
Senior Trade Compliance Analyst
Permanent · Northampton
FOOT LOCKER
Geo Marketing Manager United Kingdom
Permanent · London
VANS
Account Coordinator - French Speaking - Vans
Permanent · NOTTINGHAM
ESTÉE LAUDER
Tom Ford - Business Manager - Selfridges, Birmingham - 37.5 Hours - Full Time, Permanent
Permanent · Birmingham
ESTÉE LAUDER
Marketing Executive, Tom Ford Beauty, Kilian, Darphin And le Labo - Travel Retail Emea (Based London)
Permanent · London
ESTÉE LAUDER
Corporate Account Executive, Lagardere, Dfs, Inflight And Aquatic - Travel Retail Emea (Based London)
Permanent · London
ALEXANDER MCQUEEN
Collection Coordinator Assistant
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots, Oxford - 24 Hours - Part Time, Permanent
Permanent · Oxford
ESTÉE LAUDER
Clinique - Consultant - Boots, Sedley Place London - 37.5 Hours - Full Time, Permanent
Permanent · London
PAUL SMITH
Office Administrator
Permanent · NOTTINGHAM
FRASERS GROUP
Trainee Commercial Manager
Permanent · SHIREBROOK
FOREO
Key Account Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 26 Hours - Part Time, Permanent
Permanent · Edinburgh
BEARA BEARA
Marketing Executive (Taiwanese)
Permanent · LONDON
BRANDLAB 360 - HULA
Hula by Barbara Hulanicki – Wholesale Sales Manager
Permanent · LONDON
HOMEGOODS
Loss Prevention Detective
Permanent · Countryside
TK MAXX
10933-Loss Prevention Officer Sth Ruislip
Permanent · Ruislip
TK MAXX
10933-Loss Prevention Officer Haringey
Permanent · London
ESTÉE LAUDER
Aveda Haircare Category & Marketing Planning Manager
Permanent · London
By
Reuters
Published
Oct 2, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Fifth & Pacific slashes profit view on Juicy Couture

By
Reuters
Published
Oct 2, 2012

NEW YORK - Fashion company Fifth & Pacific Cos Inc (FNP.N) on Monday slashed its profit outlook for the year, citing difficulties at its struggling Juicy Couture brand in selling apparel at full price.



Image: Juicy Couture


Fifth & Pacific, known as Liz Claiborne Inc until May, lowered its forecast for 2012 earnings excluding items like interest, tax, depreciation and amortization (adjusted EBITDA) to a range of $100 million to $115 million, down from its prior range of $125 million to $140 million.

Juicy Court is Fifth & Pacific's fifth largest brand by revenue and store count, and the news prompted a sell-off that sent shares down 15.4 percent to $10.80 in after-hours trading.

Earlier this year, Chief Executive William McComb said Juicy Couture's business would start improving in the second half of 2012. The once-hot brand beloved for its velour track suits with an urban look has fallen out of favor with many shoppers.

In February, Fifth & Pacific said Juicy Couture's comparable sales would rise 10 percent in the second half of the year after declining last year. Instead, they fell 1 percent during the third quarter.

"Juicy is taking a step backwards," McComb said on a conference call on Monday afternoon.

McComb said there were "significant shortfalls in full-price" selling at Juicy Couture, a trend he expects will continue in the fourth quarter, which includes the holiday season.

"Clearly we've hit price resistance," he said.

Sales at the company's kate spade luxury shoe and accessories brand have been torrid, and sales have also continued to rise at Lucky Brand, but not enough to make up for the shortfall at Juicy. Comparable sales at kate spade rose 21 percent in the third quarter and were up 4 percent for Lucky Brand.

Fifth & Pacific raised its profit estimates for kate spade and Lucky Brand. But for Juicy Couture, the company now expects to earn $28 million to $38 million this year, compared with its previous range of $70 million to $73 million.

To address Juicy's problems, McComb said Fifth & Pacific would ship more merchandise to higher grossing stores, be quicker about getting unsold merchandise into outlets and out of its regular stores, and cut costs.

In the past several years, the company has sold off many of its brands, including Liz Claiborne, to lessen its debt load and focus on the brands where it sees the most potential.

(Editing by Leslie Adler)

© Thomson Reuters 2022 All rights reserved.