×
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
Nov 10, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Liz Claiborne's lean look yields surprise profit

By
Reuters
Published
Nov 10, 2011

Liz Claiborne Inc's (LIZ.N) new streamlined model helped the company post an adjusted quarterly profit, as the owner of the Juicy Couture, kate spade and Lucky Brands revamps itself to cut debt and focus on its core brands.

Liz Claiborne
Liz Claiborne Spring-Summer collection / Photo: Corbis

The New York-based company has sold, licensed, or closed a bunch of underperforming brands in recent years to switch its attention to its own retail stores.

In September, it sold its global Mexx business and in the next month, the company said it was selling its Liz Claiborne and Monet brands to J.C. Penney Co Inc (JCP.N) for $267.5 million.

Completed transactions were generating $471 million in cash proceeds since August, Liz Claiborne said.

October direct-to-consumer comparable sales were in line overall with the company's expectations as it heads into the Holiday season, Chief Executive William McComb said.

Gross profit margins at the company rose to 53.7 percent from 50 percent last year, as it made money from licensing its namesake brand to JC Penney and sold more products at its high-margin direct brands segment.

For the third quarter, the company earned $2 million, or 2 cents a share from continuing operations, compared with a loss from continuing operations of $42 million, or 45 cents per share, last year.

On an adjusted basis, it earned 5 cents a share from continuing operations, while analysts on average had expected a loss of 5 cents, according to Thomson Reuters I/B/E/S.

Sales fell 9.1 percent to $398 million. However, excluding the impact of a $31 million decline in net sales of brands that have been licensed or exited, sales decreased 1.9 percent, the company said.

Liz Claiborne shares closed at $8.37 on Tuesday on the New York Stock Exchange. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Gopakumar Warrier)

© Thomson Reuters 2022 All rights reserved.