Warm Weather in U.S. Bad for Liz Claiborne EARNINGS MARKETPLACE By Bloomberg
October 31, 2007
By Cotten Timberlake
Liz Claiborne, the maker of Kate Spade handbags and Juicy Couture, said that profit had declined for the eighth consecutive quarter on slowing apparel sales. The company cut its full-year forecast.
Third-quarter net income dropped to $33.1 million, or 33 cents a share, from $95.2 million, or 93 cents, a year earlier, the company, based in New York, said Tuesday. Sales fell to $1.26 billion.
Unusually warm weather in the United States during the quarter hurt demand for long-sleeved shirts and sweaters, prompting retailers to discount items.
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Cotten Timberlake
Originally published by Bloomberg News.
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