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By
Reuters
Published
Aug 12, 2009
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Liz Claiborne posts wider-than-expected loss

By
Reuters
Published
Aug 12, 2009

Aug 12 (Reuters) - Liz Claiborne Inc (LIZ.N) reported a deeper-than-expected quarterly loss on Wednesday 12 August as the lingering recession kept many shoppers from buying the company's clothing and accessories.


Liz Claiborne - Photo: www.lizclaiborne.com

The owner of the Juicy Couture, Kate Spade and Lucky Brand chains said its second-quarter net loss had widened to $82.1 million, or 87 cents a share, from $23.2 million, or 25 cents a share, a year earlier.

Excluding items, the loss was 48 cents a share. This compares with the analysts' average forecast of a loss of 39 cents, according to Reuters Estimates.

Net sales fell 29 percent to $684 million. (Reporting by Dhanya Skariachan in Bangalore; Editing by Lisa Von Ahn)

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